In today's Four on Friday, we spoke with Tom McCormick, Senior Vice President of Development for the Rockefeller Group Development Corporation, a private corporation specializing in commercial real estate, real estate services, and telecommunications services. Today, we delve into Tom's history with Rockefeller and their relationship with Tejon Ranch, who very recently opened "The Outlets at Tejon Ranch".
McCormick: I previously worked with Colliers for 20 years and served as President of Colliers/Macaulay Nicolls and later as COO of Panattoni Development Company. The Rockefeller Group, at the time, was looking to expand in the Western United States. I was offered a satellite office where I was essentially a one-man-shop. With some hard work, the satellite office expanded into a larger location for the company, and as it stands today I oversee a great team including a regional office in Arizona.
What is Rockefeller’s History with Tejon Ranch?
McCormick: I got to know some of the folks at Tejon Ranch during my brokerage and development days. I had known about Tejon originally because like most people, when driving North to South and South to North in California, you will have to pass through Tejon Ranch. Originally, the location had a few fast food restaurants and a substantial IKEA Distribution Center. When I joined The Rockefeller Group, I wanted to see if we could do work with Tejon Ranch. We did an analysis on the site and found that it was a great place for development. In partnering with Tejon, we agreed it was a good location within the state and kept talking about a partnership, which started with 500 acres. This led to a 600,000sf warehouse building leased by Dollar General.
What’s the Most Exciting Thing About the Outlets at Tejon Ranch Opening?
McCormick: I really can’t believe the lineup of tenants that we were able to get and I also didn’t realize what a challenge it would be all things considered. Lori (Kilberg) and Benno (Rothschild) did a great job of letting us know the challenges that we would encounter and offered financial and development expertise along the way. We were not a known Outlet Developer. The Rockefeller Group and Tejon had never done a retail project of this magnitude. Here we were, two companies new to the outlet business with a great location. After a lot of hard work we officially opened 100% pre-leased with a lineup of stores that people are excited to experience. It’s still amazing that we were able to change this bit of dirt into a quality land for use.
Take Any Fun Vacations This Summer?
McCormick: I went to Hawaii for five days, which was unusual for me. I travel so much for work (around 100 days a year), that I usually like to stay pretty close to home when I have time off. I live in Newport Beach, California, which many people visit on their vacations and like them. I enjoy going to the local beach and relaxing.
See below photos of Lori Kilberg and Benno Rothschild, along with the Rockefeller Group and Tejon Ranch at the opening for the Outlets at Tejon Ranch: