The Tejon Ranch Vision Video.
APPELLATE COURT UPHOLDS TEJON MOUNTAIN VILLAGE
Court rules in favor of Kern County, Tejon Ranch Company, & DMB Pacific Ventures, joint developers of Tejon Mountain Village
TEJON RANCH, CA (April 26, 2012) Tejon Ranch Company and its partner, DMB Pacific Ventures, announced today the 5th District Court of Appeals in Fresno has affirmed in its entirety the ruling of Kern County Superior Court Judge Kenneth Twisselman that the County of Kern properly analyzed and evaluated the environmental effects of Tejon Mountain Village. In its unanimous ruling, the court again rejected each and every claim by the opponents, ruling that the environmental impact report for Tejon Mountain Village was adequate.
“Following the December 2010 decision by Judge Twisselman, the 5th District Court of Appeals has further validated both the level of analysis and adherence to the law, as well as the process followed by Kern County leading to the Board of Supervisors’ unanimous approval of this project in October 2009,” said Robert A. Stine, President and CEO of Tejon Ranch Company.
“We are obviously very pleased with the ruling and believe it’s a further affirmation of the quality and environmental sensitivity of Tejon Mountain Village, and again vindicates the outstanding work of Kern County in preparing and evaluating the environmental report,” said Eneas Kane, President and CEO of DMB Pacific Ventures, LLC.
“It took an extraordinary team of professionals to craft the vision and produce such a thorough and comprehensive plan, and the court’s resounding ruling is validation of the level of detail and science-based approach used in designing the community,” said Stine.
“The appellate court’s decision represents a significant step forward in our efforts to achieve our vision for Tejon Mountain Village, which was first approved by the County, then affirmed by the Superior Court, and now reaffirmed at the appellate level – something almost unprecedented in California,” added Kane.
Tejon Mountain Village will play a key role in the overall conservation of Tejon Ranch, and it was an important consideration during negotiations that led to the historic Tejon Ranch Conservation and Land Use Agreement. Under the Agreement, executed in 2008 by Tejon Ranch Company, Natural Resources Defense Council, Sierra Club, Planning and Conservation League, Endangered Habitats League, and Audubon California, the Ranch agreed to conserve up to 90% of its land and establish the Tejon Ranch Conservancy. The sale of homes within Tejon Mountain Village will generate an on-going funding stream for the operation and activities of the independent Tejon Ranch Conservancy.
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About Tejon Mountain Village
Tejon Mountain Village is located on Tejon Ranch, a 270,000-acre working ranch located about 60 miles north of Los Angeles and 30 miles south of Bakersfield. At more than 26,000 acres, Tejon Mountain Village preserves more than 80 percent of its land as natural open space, making it one of California’s most remarkable, environmentally sensitive mountain resort communities. Tejon Mountain Village is being developed by Tejon Ranch Company and DMB Pacific Ventures, LLC. www.TejonMountainVillage.com.
About DMB Pacific Ventures, LLC
DMB Pacific Ventures LLC is a company formed to manage real estate investments throughout the western United States. More information about DMB Pacific Ventures, LLC can be found online at www.dmbpacificventures.com.
About Tejon Ranch Company
Tejon Ranch Company is listed on the New York Stock Exchange under the symbol TRC. Tejon Ranch 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 Company can be found online at www.tejonranch.com.
CONTACT:
David Crowder – (661) 599-9176, Tejon Mountain Village LLC
Barry Zoeller – (661) 663-4212, Tejon Ranch Company.
TEJON RANCH TO SERVE AS THE HUB OF DOLLAR GENERAL’S WESTERN SUPPLY CHAIN
Dollar General leases large warehouse facility to serve as its California distribution center
TEJON RANCH, Calif. (January 10, 2012) – The partnership of Tejon Ranch Company (NYSE: TRC) and Rockefeller Group Development Corporation, together with Dollar General Corporation (NYSE: DG), today announced the discount retailer is leasing 439,000 square feet of warehouse space in the building the partnership owns at the Tejon Ranch Commerce Center. Dollar General will use the facility to support its expansion into California.
“The Tejon Ranch distribution center is strategically located to serve our supply chain needs as we continue to expand westward,” said John Flanigan, Dollar General’s executive vice president of global supply chain. “From its central location, our supply chain team can deliver goods to stores in northern and southern California in a day.”
Dollar General currently has more than 9,800 stores in 38 states. The discount retailer is adding California as its 39th state and plans to open 50 stores throughout the state in 2012. The distribution center at the Tejon Ranch Commerce Center will be the company’s 11th distribution center in its extensive, cross-country supply chain network. The new facility, which is anticipated to begin operations in April, will eventually employ approximately 250 people. Hiring begins in March.
The Tejon Ranch Commerce Center is Tejon Ranch Company’s 1,450-acre master planned commercial/industrial development located at the junction of Interstate 5 and Highway 99, at the southern end of California’s San Joaquin Valley – the gateway to Central California’s Golden Empire. The Commerce Center is already home to major distribution centers for IKEA and Famous Footwear and last month, Caterpillar Inc. (NYSE: CAT), announced it was purchasing 46 acres at the site to build a 400,000-square-foot parts distribution facility.
“We are excited to welcome Dollar General to the Tejon Ranch Commerce Center,” said Robert A. Stine, president and CEO of Tejon Ranch Company. “Following on the heels of the Caterpillar transaction, Dollar General’s decision to locate here is further validation of the Commerce Center’s premier status as one of California’s best and most strategic locations for distribution.”
“The Rockefeller Group would also like to welcome Dollar General to the Tejon Ranch Commerce Center,” said Tom McCormick, senior vice president for Rockefeller Group Development Corporation. “We see signs that consumer confidence is increasing and that will buoy the industrial market as goods begin to move. Dollar General will be strategically positioned to take advantage of that confidence.”
Tejon Ranch Company and Rockefeller are joint venture partners on up to 500 acres within the Commerce Center, including the warehouse facility being leased by Dollar General. The building already has an existing tenant who will share use of the facility with Dollar General. The acreage has also been designated as a Foreign Trade Zone.
The Tejon Ranch Company/Rockefeller partnership was represented in the transaction by Doug Sonderegger, Executive Vice President of CBRE. Dollar General Corporation was represented by Joseph J. Howell and Brett B. Spitzer, Executive Vice Presidents of NAI Global, and Chad Brock, President of NAI Central Cal. The Kern Economic Development Corporation also assisted Dollar General and provided important information during its site selection process.
