Tejon Ranch

Fall's harvest on Tejon land starts the way it has for generations, in the orchards at the foot of the Grapevine.

The valley floor grows pistachios, almonds, and grapes, crops that take years of patient ground to establish and reward the growers who commit to them. This is farming at the scale California built its agricultural economy on, on some of the most productive soil in the state and beyond.

Farming is the oldest use of this land, older than the freeways and the freight, and it goes on the same way it always has. The trees are tended, the nuts come down, the fruit comes off, and the ground that has fed people for over a century feeds them still.

An orchard is a long bet, planted years before it pays and tended long after. The same foresight that plans a harvest shapes every long-term investment Tejon Ranch Company makes.

For sixty years, the limestone under Tejon Ranch has gone into the roads, foundations, and walls of a growing California.

National Cement mines this limestone at Lebec, in the I-5 corridor, and turns it into the cement the state is literally built from. More than 23 million cubic yards have come out of this ground, enough to pave 2,300 miles of road or pour the foundations for thousands of hospitals, schools, and homes.

Tejon Ranch Company doesn't quarry the limestone or fire the kilns, but it protects the ground the operation depends on. Operators stay because the resource is here, strong in quality and close to where it's headed next.

As National Cement continues to invest in new technologies and more efficient production, their Lebec operation remains well-positioned to help meet California’s long-term infrastructure needs.

Partnerships like this reflect the enduring value of our approach to development: a small portion of the ranch supports industrial activity that generates durable value, enabling long-term stewardship.
What this ground has produced for sixty years, it is built to keep producing.

Five thousand people clock in at the Tejon Ranch Commerce Center daily, and most of them stay year after year.

Turnover runs under 5% at a logistics hub this size, which is rare enough to mean something. When category leaders like Caterpillar, IKEA, and Nestlé build their distribution here, the jobs come with them, and the people who fill those jobs put down roots. Terra Vista at Tejon apartments has become a new option for a workforce whose only choice used to be a drive-in.

Now there is even more to do before and after a day at work. The Outlets at Tejon for shopping, dining within reach, a major hospitality investment drawing visitors to Southern Kern. The foothills of the Grapevine, where two freeways cross under the mountains, are becoming a place to live.
What we invest in today, people call home tomorrow.

Most people driving the I-5 and 99 corridor see the freight, the industrial buildings, and families stopping for a much-needed road-trip break. What you don't see is the layer underneath, where the same ground earns again and again.

Aqueduct, transmission, fiber, solar, and battery storage all cross Tejon Ranch land, including Calpine's 105-megawatt Pastoria Solar Project generating power on the ranch. Each one is a counterparty paying to operate on the corridor, and each one signs for the long term.

Every year, the state needs somewhere to put what it builds next, whether that's a fiber route, a water line, or a system that doesn't exist yet. This land sits where those systems have to connect, so the next build routes through the same ground as the last. The land was here first, and California keeps arriving at it.

As California builds toward its energy and water future, the next decade is already taking shape here, one system at a time. TRC carries that infrastructure while keeping 90% of the ranch in permanent conservation, holding and stewarding this ground long after the building is done.

Build more. Risk less.

Smart growth for a land company starts with the partners it picks.
Building 1B sits on land we entitled years before we broke ground, then held until the right partner came. That partner is Dedeaux Properties, and together we're putting up 510,000 square feet of Class A industrial space at the Tejon Ranch Commerce Center.

This structure expands our industrial footprint and adds recurring revenue, without holding traditional development risk on our balance sheet.

The land gives us leverage. Disciplined capital allocation determines how we best create value from it.

Saturday at Terra Vista starts at the pool and stays there a while.

Cabanas, sun, the foothills rolling out past the deck. Later there's a workout that doesn't need a gym membership, dinner that doesn't need a reservation, and the Outlets a few steps from the front gate. The dog has a park. The kids have grass to run across. The fire tables come on when the sun drops behind the Grapevine.

This is what it looks like when a community gets built whole, not piece by piece. The pool, the shops, the trails, the neighbors, all of it arriving together at the center of California. People are putting down roots here, in a place that was open ranchland a few years ago and now holds a Saturday worth slowing down for.

The Tejon Ranch Commerce Center has absorbed 8.9 million square feet of commercial and industrial space, anchored by a 7-million-square-foot industrial portfolio that sits 100% leased. Foreign Trade Zone status pulls in distribution, logistics, and industrial supply from companies that operate worldwide.
Caterpillar in heavy equipment, IKEA in home goods, L'Oréal in beauty, Nestlé in food, Dollar General in retail. Category leaders across critical industries chose TRCC as their logistics hub in the San Joaquin Valley, each one after understanding what this unique location in California offers.
A 100% leased portfolio means recurring income that holds. When operators of this caliber commit for the long term, they are betting on the same corridor TRC has held for generations, and that bet pays in leases that renew and demand that grows. What the land earns today strengthens what it can earn tomorrow.

Back-to-school starts at the Outlets at Tejon!

With mainstays like Nike, Adidas, Levi's, Tommy Hilfiger, Old Navy, and Carter's, families can do it all in one stop. The Outlets sit where I-5 meets Highway 99, with 3.2 million people within an hour's drive and 80,000 travelers passing through daily. The same crossroads that moves California's freight brings families in to fill their carts and check the lists.
Nearly sixty stores, one stop.

For the families putting down roots at Terra Vista, it's the shop next door. For the region, it's the reason to make the drive. Every list gets shorter here, and every fall starts at the same place.

Tejon Ranch Co. (NYSE: TRC) reported a strong second quarter, reflecting disciplined ex*****on and continued momentum across its diversified business.

Driven by strategic commercial real estate activity, growth in mineral resources and ranch operations, and disciplined cost management, the company returned to profitability while delivering year-over-year revenue and Adjusted EBITDA growth.

"Last year we committed to a clear strategy of cost discipline and capital efficiency, and this quarter's improved performance reflects a company executing its plan," said President & CEO Matthew Walker.

With Terra Vista leasing surpassing 80%, a fully leased industrial portfolio, and continued investment at Tejon Ranch Commerce Center, the company remains well positioned for long-term growth.

The full earnings release, conference call information, and replay are available on our Investor Relations website at ir.tejonranch.com.

Drive the southern San Joaquin Valley and you cross the most productive farmland and freight country in California, the ground that feeds markets across the country and around the world. Follow it to where Interstate 5 meets Highway 99, and the Valley hands off to Southern California at a single point.

That point is Tejon Ranch. 270,000 acres where the Central Valley's output, the state's freight, its energy, and its water all cross the same footprint.

This is the crossroads itself, not a parcel near it. Goods, energy, water, and people move through this land in every direction, and every other part of the business stands on that geography.

We don't take that responsibility lightly. We inherited this land, and every decision we make is meant to protect what makes it as special as it is strategic.