Dedeaux Properties has acquired a 12-acre parcel of land to build a 250,000-square-foot industrial development in the Tejon Ranch Commerce Center in Tejon Ranch. The firm plans to develop a warehouse or distribution center with 32-foot clear heights and excess trailer parking. Construction will take nine to 12 months.

Tejon Ranch is an industrial hub located 75 miles from Los Angeles. Dedeaux’s Rishi Thakkar said that Tejon Ranch is “strategically located in the southern portion of California’s Central Valley… represent[ing] a superior value proposition for regional users who need to move goods throughout the Western United States.” This is especially true as industrial vacancy rates in Los Angeles have hit a record low. Last year, industrial leasing activity surpassed pre-pandemic activity, according to research from Marcus & Millichap. As a result, industrial rents increased 4.8% and the vacancy inched down 40 basis points, landing at 2.9%. While there is demand, only 4.4 million square feet of new industrial product came onto the market, supporting a need for large box developments in nearby markets, like Tejon Ranch.

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