L’Oréal USA to relocate professional salon
distribution operation to TRCC, the logistics hub located at the
gateway to Kern County--California’s fast-growing distribution
region
Tejon Ranch Co. (NYSE: TRC) today announced that it has agreed
to terms on a lease with L’Oréal USA, the largest subsidiary of
L’Oréal, the world’s leading beauty company, that will bring
SalonCentric, L’Oréal USA’s professional salon distribution
operation, to the Tejon Ranch Commerce Center (TRCC). SalonCentric
will occupy the remaining 240,000 square feet of space in a
480,000-square foot building TRC developed in partnership with
Majestic Realty Co.
As part of the move, SalonCentric will relocate its Valencia,
California, distribution center to Tejon. SalonCentric,
headquartered in St. Petersburg, Florida, and operating in 48
states, is the premier distributor of salon professional
products.
“SalonCentric’s decision to move its Valencia operations to
TRCC, which is located just 40 minutes north of its current
facility, underscores Tejon Ranch’s value as a proven and opportune
place for companies wanting to locate and/or expand in California,”
said Joseph N. Rentfro, executive vice president of real estate at
Tejon Ranch Co. “It’s also further evidence of Kern County’s
emergence as a major distribution region with the ability to serve
California and the western U.S.”
“We believe Tejon Ranch is the ideal location from which we can
serve our professional salon customers throughout the west,” said
Bertrand Fontaine, president of SalonCentric. “Its central location
directly on Interstate 5 provides great access, and given the size
of TRCC, we have room to expand operations to further realize our
vision of modernizing the professional beauty industry.”
“Majestic Realty is proud to welcome L’Oréal USA as the second
tenant of our building developed in partnership with Tejon Ranch
Co.,” said Brett Tremaine, senior vice president at Majestic Realty
Co. “This is just the tip of the iceberg, as we believe many more
companies currently located in the Los Angeles basin, like
SalonCentric, will want to avail themselves of the Tejon Ranch
Commerce Center’s strategic location and outstanding labor
pool.”
Earlier this year, Dollar General (NYSE: DG) leased the initial
240,000 square feet of space within the partnership’s building as
it increased its footprint at TRCC by nearly 40 percent.
“It makes perfect sense for L’Oréal USA to move its professional
salon distribution operation within California to Tejon Ranch,”
says John DeGrinis, SIOR, senior executive vice president of
Colliers International, who represents TRCC. “It’s all about
access. Tejon’s central location with direct access to Interstate
5, allowing SalonCentric to distribute to its operations throughout
the west; the ability to offer their current employees – and any
future employees – a great, easily accessible location to work;
access to a wide variety of adjacent amenities for employees and
professional drivers alike; and access to total operating costs
that are among the lowest in the state, all add up to some pretty
compelling reasons why TRCC represented a great opportunity for
L’Oréal USA,” he explained.
“More and more companies are taking notice of what’s happening
in Kern County, and at Tejon Ranch specifically,” said Craig
Peters, executive vice president of CBRE, who represented
SalonCentric in the transaction. “As available space is at a
premium in Northern Los Angeles County—and commanding premium
prices—Tejon Ranch represents an attractive alternative for
companies needing additional space and seeking value for their
businesses.”
L’Oréal USA is also applying for economic incentives
administered through the County of Kern’s “Advance Kern” policy,
which provides eligible companies the opportunity to seek
reimbursement for a portion of the property and sales taxes they
generate. The policy is only applicable to unincorporated areas of
Kern County, like the Tejon Ranch Commerce Center.
The Tejon Ranch Commerce Center is Tejon Ranch Co.’s 1,450-acre
master planned commercial/industrial development located at the
junction of Interstate 5 and Highway 99 in Kern County, about an
hour north of the Los Angeles basin. It’s entitled for more than 20
million square feet of commercial and industrial space, with about
15 million square feet still available. In addition to the
previously mentioned Dollar General, the Commerce Center is also
home to major distribution centers for IKEA, Famous Footwear and
Caterpillar Inc. (NYSE: CAT).
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 Majestic Realty Co.
Celebrating its 70th Anniversary in 2018, Majestic Realty Co. is
the largest, privately-held developer and owner of master-planned
business parks in the United States. With more than
78-million-square-feet in its portfolio, Majestic provides real
estate solutions for tenants large and small, creating jobs, tax
revenue and community benefits across the
country. Headquartered in Southern California, Majestic has
regional offices in Atlanta, Bethlehem, Penn., Dallas, Denver, Fort
Worth and Laredo, Texas, Las Vegas and Phoenix, Ariz.
About SalonCentric
SalonCentric, headquartered in St. Petersburg, Fla., is the
premier distributor of salon professional products in the U.S.
Created by L’Oréal USA in 2008 and operating in 48 states,
SalonCentric has more than 636 sales consultants, 565 SalonCentric
stores and 261 State and RDA stores. SalonCentric’s vision is to be
an inspirational force in the development and success of beauty
professionals by providing the best brands, the best education, the
best technology and the best business-building support. Our
commitment to the industry also extends to proactively fighting
diversion, and protecting authorized channels of distribution.
Brands distributed by SalonCentric include: Alterna, Amika,
Bioelements, Bio Ionic, Creative Nail Design, Design.ME,
Dermalogica, Fatboy, FHI, Hempz, Kenra, L’ANZA, label.m, L’Oréal
Professionnel, Matrix, Mizani, Moroccanoil, Olaplex, Pravana,
Product Club, Pulp Riot, Pureology, Redken 5th Avenue NYC, Sam
Villa, Sebastian, Sexy Hair, Surface, Tressa and many other fine
brands. For more information, visit www.saloncentric.com.
About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ: CIGI)
(TSX: CIGI) is a top tier global real estate services and
investment management company operating in 69 countries with a
workforce of more than 13,000 professionals. Colliers is the
fastest-growing publicly listed global real estate
services and investment management company, with 2017 corporate
revenues of $2.3 billion ($2.7 billion including affiliates). With
an enterprising culture and significant employee ownership and
control, Colliers professionals provide a full range of services to
real estate occupiers, owners and investors worldwide, and through
its investment management services platform, has more than $20
billion of assets under management from the world’s most respected
institutional real estate investors.
Colliers professionals think differently, share great ideas and
offer thoughtful and innovative advice to accelerate the success of
its clients. Colliers has been ranked among the top 100 global
outsourcing firms by the International Association of Outsourcing
Professionals for 13 consecutive years, more than any other real
estate services firm. Colliers is ranked the number one property
manager in the world by Commercial Property Executive for two years
in a row.
Colliers is led by an experienced leadership team with
significant equity ownership and a proven record of delivering more
than 20% annualized returns for shareholders, over more than 20
years.
For the latest news from Colliers,
visit Colliers.com or follow us
on Twitter: @Colliers and LinkedIn.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500
company headquartered in Los Angeles, is the world’s largest
commercial real estate services and investment firm (based on 2017
revenue). The company has more than 80,000 employees (excluding
affiliates), and serves real estate investors and occupiers through
approximately 450 offices (excluding affiliates) worldwide. CBRE
offers a broad range of integrated services, including facilities,
transaction and project management; property management; investment
management; appraisal and valuation; property leasing; strategic
consulting; property sales; mortgage services and development
services. Please visit our website at www.cbre.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180816005127/en/
Tejon RanchCorporate CommunicationsBarry Zoeller, (661)
663-4212bzoeller@tejonranch.comorFor Majestic Realty Co.Marty
Schechter, (303) 987-8163marty@schechterpr.comorSalonCentric - A
Subsidiary of L’Oréal USACorporate CommunicationsRebecca Bray,
(727) 369-2352rbray@saloncentric.com
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