TEJON RANCH, CA (November 7, 2013) Construction is well underway on The Outlets at Tejon Ranch, California’s newest outlet shopping center. Developed by Tejon Ranch Co. (NYSE: TRC) and The Rockefeller Group, the 320,000-square foot upscale outlet center is located just over the Grapevine on Interstate 5, one of California’s most traveled highways. The new center will occupy a 43-acre site within the historic and scenic landscape of Tejon Ranch and is easily accessible from Los Angeles, Bakersfield, Santa Clarita, the Antelope Valley and the San Fernando Valley.
“We are getting incredible interest from top retailers who realize the vast potential of this unparalleled location,” said Gregory S. Bielli, President of Tejon Ranch Co. “Research shows consumers are increasingly looking for designer brands at value prices and are therefore turning to outlet centers to do their shopping. For the first time, this unique stretch of California will have a first-class, accessible value retail destination within reach.”
“This location benefits from simply incredible demographics,” said Tom McCormick, a Senior Vice President of The Rockefeller Group’s western region development division. “Our research has shown that more than 3.2 million people live within an hour’s drive of the site at the Tejon Ranch Commerce Center. One of the top-five-performing Starbucks in the country is located just across the freeway. And 65 million travelers pass by annually, with 14 million of them stopping every year – all before the outlets are completed. It’s the perfect spot.”
Even with the success of the Tejon Ranch Commerce Center, the surrounding market is generally considered to be underserved when it comes to retail.
“We wanted to bring an offering to this region that was needed—and create something special in meeting that need,” added Hugh McMahon, Vice President of Commercial & Industrial Real Estate for Tejon Ranch Co. “A high-quality outlet center featuring designer brands at everyday value prices certainly fits the bill.”
Inspired by the history and dramatic landscape of the area, architects Ross Adams & Associates designed the center to seamlessly integrate into its natural surroundings. A replica of Bakersfield’s Beale Clock Tower—a historical landmark—will serve as a signature architectural feature at The Outlets at Tejon Ranch. Lushly landscaped grounds will create an oasis for visitors with large courtyards throughout accented with water features and relaxing furniture for guests to lounge and enjoy the scenery. The circular shape of the center will allow shoppers to easily navigate the more than 70 premier stores offering a wide selection of top designer and value retail brands in fashion, footwear, accessories, home goods and more. The open air layout is environmentally friendly, providing fresh air and sunlight and buildings will be topped with “cool roofs” to deflect heat and provide shade for shoppers.
Leasing of The Outlets at Tejon Ranch is being handled by EWB Development LLC, one of the country’s foremost experts in outlet leasing, marketing and development. Layton Construction Co., Inc., of Salt Lake City, Utah, is serving as general contractor.
The Outlets at Tejon Ranch is expected to welcome its first shoppers in August 2014.
About Tejon Ranch
Tejon Ranch Co. is a diversified real estate development and agribusiness company, whose principal asset is its 270,000-acre land holding located approximately 60 miles north of Los Angeles and 30 miles south of Bakersfield. More information about Tejon Ranch Co. can be found online at http://www.tejonranch.com.
About The Rockefeller Group
The Rockefeller Group is a leading global real estate owner, developer and investor. It was founded more than 80 years ago to develop Rockefeller Center in New York, one of the world’s premier examples of successful mixed-use development combining prime office and retail space in a superior location. Since that time, The Rockefeller Group has completed nearly 40 million square feet of development projects throughout the United States. The company is a wholly-owned subsidiary of Mitsubishi Estate Co. Ltd., one of the world’s largest real estate investment and development companies, which has completed eight outlet centers in Japan.
About EWB Development LLC
As the largest third-party provider of outlet center development consultation services in the industry, EWB Development, LLC provides strategic direction, marketing consultation, management and leasing to existing and prospective outlet properties in the United States and throughout the world. EWB has participated in and/or directed the development programs of more than 50 outlet centers in the U.S., Europe and Canada, and has overseen the ongoing marketing, leasing, and management of dozens more. For more information, visit the company’s website at www.ewbdevelopment.com