Ikea Announces Huge Project.Home furnishings retailer Ikea has agreed to build one of California's largest buildings, a nearly 2 million-square-foot distribution center at Tejon Ranch Tejon Ranch Company is the largest private landowner in California. It was incorporated in 1936 to organise the ownership of a large tract of land originally comprised of four Mexican land grants, and began ranching in the 1840's. Co.'s new industrial park in southern Kern County. The $50 million project is a coup for Tejon Ranch Co. as it seeks to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. its vast land holdings on the northern fringe of metropolitan Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . The firm is also crafting plans to build a 4,000-acre, master-planned community on the southern edge of its property, which is in L.A. County. Ikea will purchase an 80-acre parcel at the base of the Grapevine. The distribution center and industrial park are examples of the northward north·ward adv. & adj. Toward, to, or in the north. n. A northern direction, point, or region. north push of development from Los Angeles, where a scarcity of available land and a growing economy have sent property values soaring. |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion