TEJON RANCH, CA—The Rockefeller Group hascompleted its first dedicated retail project, theOutlets at Tejon in Tejon Ranch, CA. In anearlier story, GlobeSt.com reported that the Outletsat Tejon, a $90 million shopping center between Los Angeles andBakersfield developed by the Rockefeller Group and TejonRanch Co., held its grand opening ceremony yesterday.

Although Rockefeller has never developed a dedicated retailproperty, the company is familiar with retail product because ofits experience and success developing mixed-useproperties throughout the country. “We're focusedprimarily on office andindustrial investment and development, but we havea long history with mixed-use development and retail that extendsback to the development of Rockefeller Center,”Atsushi Nakajima, president and CEO of theRockefeller Group, tells GlobeSt.com. “In the case of this project,there were a number of contributing factors that made us want to bea part of it. For one, we're very comfortable with the producttype. Second, we have a great industrial partnership withTejon Ranch Co., and the opportunity to partner with them on aretail project seemed like a great way to continue a businessrelationship that we really appreciate and enjoy.”

Additionally, the retail project, which was already fully leasedat the opening to 70 retail tenants, is in a fantastic“destination” location, making it all the more attractive to thetwo developers. “Demographics and location drive the success ofretail, and we think the Outlets at Tejon present the demand fromresidents and visitors in the surrounding area that will make for avery successful retail project,” Nakajima says. “The fact thatwe're 100% occupied on opening is a strong response that theretailers agree with our projections.”