Skip to main content

Court Issues Opinion on Centennial at Tejon Ranch

Written by Customer Service on . Posted in Public Companies.

Ruling provides clarity on the future of master planned Los Angeles County community

TEJON RANCH, Calif., June 26, 2025 (GLOBE NEWSWIRE) — Tejon Ranch Co. (NYSE:TRC), (“Tejon” or the “Company”), a diversified real estate development and agribusiness company, today released the following statement in response to the California Court of Appeals’ decision to uphold the Los Angeles County Superior Court’s previous decision regarding the Company’s Centennial development.

We disagree with the Court of Appeals’ ruling and importantly note that the decision affirms that the Company prevailed on 20 of the 23 items resolved at the trial court. Furthermore, the ruling does not address any additional issues. In the coming days, we intend to work with Los Angeles County to evaluate how best to advance Centennial in a way that benefits the region and delivers value for our shareholders.

Centennial remains one of the most extensively studied, climate-forward and resilient master planned communities ever proposed in the state. It will bring much needed housing, jobs and open space preservation to a County that urgently needs all three.

Tejon Ranch has a decades-long track record of navigating California’s complex land use process. We are confident in our ability to move Centennial forward, generate value for our shareholders, and deliver housing, jobs, open space and above all, opportunity for the region.

About Tejon Ranch Co. (NYSE: TRC)
Tejon Ranch Co. 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.

About Centennial at Tejon Ranch
Centennial at Tejon Ranch is a future master-planned, mixed-use community located on approximately 12,000 acres of Tejon Ranch in northern Los Angeles County. Designed to be one of the most sustainably planned communities in California’s history, Centennial will deliver up to 19,333 homes, including more than 3,000 affordable units. Centennial builds on Tejon Ranch Company’s legacy of environmental stewardship, pairing large-scale conservation with forward-thinking, climate-resilient design

Forward Looking Statements

This communication contains forward-looking statements about future events and circumstances. Generally speaking, any statement not based upon historical fact is a forward-looking statement. In particular, statements regarding Tejon’s plans, strategies, prospects and expectations regarding its business and industry are forward-looking statements. They reflect Tejon’s expectations, are not guarantees of performance and speak only as of the date hereof. Except as required by law, Tejon does not undertake to update such forward-looking statements. You should not rely unduly on forward-looking statements. Tejon’s business results are subject to a variety of risks, including business conditions and the general economy, future commodity prices and yields, market forces, the ability to obtain various governmental entitlements and permits, interest rates and other risks inherent in real estate and agriculture businesses. For further information on factors that could affect Tejon’s business results, refer to Tejon’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and subsequent filings with the U.S. Securities and Exchange Commission.

Contacts:
Nicholas Ortiz
Tejon Ranch Co., Senior Vice President, Corporate Communications & Public Affairs
(661) 331-0313
nortiz@tejonranch.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.