TEJON RANCH, CALIF. — Dallas-based Covington Group has purchased a 606,000-square-foot warehouse distribution facility. The property is located within the Tejon Ranch Commerce Center in the 1,450-acre master-planned commercial and industrial development located at the junction of Interstate 5 and Highway 99 in Kern County, Calif. The development is approximately an hour north of the Los Angeles basin.
A joint venture between Tejon Ranch Co. and Rockefeller Group sold the asset for an undisclosed price.
Dollar General has occupied the warehouse facility since 2012. Other tenants at Tejon Ranch Commerce Center include IKEA, Famous Footwear, L’Oréal USA and Caterpillar.
The master-planned area is entitled to more than 20 million square feet of commercial and industrial space, with approximately 6 million square feet already in development and 14 million square feet of entitled space still available.