TEJON RANCH, Calif.--(BUSINESS WIRE)--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.
About Tejon Ranch Company (NYSE: TRC)
Tejon Ranch Company 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. For more information on the company, please go to www.tejonranch.com. For more information on the Tejon Ranch Commerce Center, please go to www.tejoncommerce.com.
About Rockefeller Group Development Corporation (RGDC)
RGDC is a national owner, developer, and manager of prestigious commercial real estate properties. Its development capabilities include corporate headquarters, landmark properties, multi-use urban complexes, multinational distribution facilities, suburban business parks, and foreign trade zones. RGDC, with developments in New York, New Jersey, Florida, Arizona and California, is an operating company of The Rockefeller Group, developer of the famed Rockefeller Center in New York City. For more information, please logon to www.rockefellergroup.com.
About Dollar General Corporation (NYSE: DG)
Dollar General Corporation has been delivering value to shoppers for more than 70 years. Dollar General helps shoppers Save time. Save money. Every day!® by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, house wares and seasonal items at low everyday prices in convenient neighborhood locations. With more than 9,800 stores in 38 states, Dollar General has more retail locations than any retailer in America. In addition to high quality private brands, Dollar General sells products from America's most-trusted manufacturers such as Procter & Gamble, Kimberly-Clark, Unilever, Kellogg's, General Mills, Nabisco, Hanes, PepsiCo and Coca-Cola. Learn more about Dollar General at www.dollargeneral.com.