Tejon Ranch Co. is a diversified real estate and land management company anchored by the Tejon Ranch Commerce Center, a large-scale commercial and industrial development in California's interior positioned along a major interstate corridor. The company generates revenue through industrial and commercial real estate leasing to major tenants, multifamily residential rentals, long-term master-planned community development entitlements, mineral royalties from oil and gas and aggregate operations, permanent crop farming including wine grapes and tree nuts, and ranch operations encompassing grazing leases and ancillary uses across approximately 270,000 contiguous acres. The business model emphasizes net-lease rental income as the primary revenue driver while developing long-term real estate projects and monetizing natural resources and land assets to create shareholder value.