TEJON RANCH, Calif.--(BUSINESS WIRE)--Jul 29, 2019--
On Tuesday, July 30, 2019, Tejon Ranch Co. (NYSE:TRC) will have the honor of ringing the Closing Bell at the New York Stock Exchange, in celebration of its 20 th anniversary as a member of the Exchange. At 4:00 pm Eastern Time/1:00 pm Pacific Time, Tejon Ranch Co. President and CEO Gregory S. Bielli will ring the bell, marking the end of the trading day on Wall Street.
He will be joined on the bell podium by two other Tejon Ranch Co. executives: Allen Lyda, Executive Vice President and Chief Operating Officer, and Barry Zoeller, Senior Vice President, Corporate Communications & Investor Relations.
Tejon Ranch Co. joined the New York Stock Exchange on July 28, 1999, having moved from the American Stock Exchange, where its stock had traded the previous 25 years. Tejon Ranch Co. incorporated as a public company in 1936.
The company’s principal asset is the 270,000-acre Tejon Ranch. Located 60 miles north of Los Angeles and 30 miles south of Bakersfield, Tejon Ranch is the largest contiguous piece of private property in California. Throughout its 175-year history, Tejon Ranch has played a significant role in the development of both California and the nation.
Situated at the center of California, connecting both north and south, Tejon Ranch is strategically located. It’s home to vital transportation and communications corridors, oil and gas pipelines, electrical transmission lines and more. Seventeen miles of the State Water Project crosses over or tunnels through the Ranch. The largest pumping plant in the system, critical to delivering water to Southern California, is also located on Tejon. Interstate 5, and before that, Highway 99, the Ridge Route, the Los Angeles – Stockton Road, the Butterfield Stage Coach line, currently pass or have passed through Tejon Ranch’s western boundaries.
Though a diversified company, with separate divisions dealing with agriculture, oil, water and minerals, ranching and other ranch operations, Tejon Ranch Co.’s primary focus is real estate development, both commercial and residential. Combined, those developments entail nearly 35,000 homes and more than 35 million square feet of commercial space, with opportunity for more in the future.
The Tejon Ranch Commerce Center and Outlets at Tejon, located at the junction of I-5 and Highway 99, have become a destination for those traveling north and south through California. The central location directly on Interstate 5 has proven ideal for companies distributing their goods throughout California and the west. The Commerce Center is already home to distribution centers for IKEA, Caterpillar, Dollar General, Famous Footwear, and L’Oréal USA’s professional salon distribution operation, Salon Centric, is in the process of relocating to Tejon from the nearby LA basin. Nearly 6 million square feet of commercial/industrial space has been developed to date, creating 4,000 jobs, with 14 million square feet, and thousands of additional jobs to go.
On the residential side, to address both the current housing shortage in California and to prepare for future population growth, Tejon Ranch is developing three master planned mixed-use residential communities, two in Kern County — Grapevine and Mountain Village — and the other in Los Angeles County — Centennial. Combined, the three communities will include a wide mix of housing types and price points to appeal to a wide variety of geographic and demographic market segments.
In 2008, Tejon Ranch Co. set the model for private conservation when it signed the Tejon Ranch Conservation and Land Use Agreement. This landmark agreement with five major environmental resource groups, Audubon California, Endangered Habitats League, Natural Resources Defense Council, Planning and Conservation League, and the Sierra Club, calls for Tejon Ranch to permanently conserve 240,000 acres of its property – 90% of the Ranch. The acreage includes millions of oaks and other trees, which play an important role in the sequestration of carbon. In 2009, the agreement was recognized with California’s most prestigious environmental honor, the Governor’s Environmental and Economic Leadership Award.
Tejon Ranch takes its responsibility to be a good corporate citizen seriously. In 2008, the Ranch donated 500 acres to the National Cemetery Association for the building of a new national veterans cemetery. The Bakersfield National Cemetery opened in 2009 and has subsequently been recognized as a National Shrine.
About Tejon Ranch Company (NYSE: TRC)
Tejon Ranch Co. (NYSE: TRC) is a growth-oriented, diversified real estate development and agribusiness company whose principal asset is its 270,000-acre historic land holding located approximately 60 miles north of Los Angeles and 25 miles south of Bakersfield. Celebrating more 175 years of history, Tejon Ranch is positioned for growth with its fully operational commercial/industrial real estate development and three master planned communities on the horizon.
More information about Tejon Ranch Co. can be found online at http://www.tejonranch.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190729005019/en/
CONTACT: Barry Zoeller, Senior Vice President
Corporate Communications & Investor Relations
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY
SOURCE: Tejon Ranch Co.
Copyright Business Wire 2019.
PUB: 07/29/2019 09:15 AM/DISC: 07/29/2019 09:15 AM