Majestic Realty breaks ground on 629,274 square-foot project in California
In June 2021, Majestic Realty broke ground on its fourth joint venture agreement with Tejon Ranch Co. in Tejon Ranch, California. The 629,274-suqare-foot industrial building is designed for single-tenant or multi-tenant use. The site will have 36-foot clear height and 185-foot cross-dock truck courts. The building is scheduled for occupancy in mid-2022. Given the current trend in both commercial and residential rents, this completion and occupancy is expected in increase company revenue performance.
New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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