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New Distribution Facility to Sprout on the Grapevine

LOS ANGELES-Tejon Ranch Co. and Nevada's Dermody Properties plan a 650,000-sf speculative project on Interstate 5, as industrial space closer to Downtown LA gets harder to find.

By David W. Myers and Erin Cassin | Updated on March 16, 2001

LOS ANGELES-A partnership of Tejon Ranch Co. and Nevada-based Dermody Properties has announced plans to build a speculative 650,000-sf distribution building in Kern County, an area that is starting to grow as big industrial space-users get priced out of the red-hot LA market.

The spec distribution building will rise on a 33-acre site near the intersection of Interstate 5 and US 99, a Tejon Ranch executive says. When completed, the facility will encompass 650,000 sf and stand near the 1.8-million-sf Western North American Distribution Center that is currently under construction for home-furnishing giant IKEA.

The development partnership is known simply at Tejon/Dermody Industrial. Land construction value for the new project is estimated at $19 million.

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