Tejon Ranch Co. operates as a diversified real estate development and agribusiness company. The company operates through four segments: Commercial/Industrial Real Estate Development, Resort/Residential Real Estate Development, Mineral Resources, and Farming. The Commercial/Industrial Real Estate Development segment is involved in the entitling, planning, and permitting of land for development; construction of infrastructure; construction of pre-leased buildings; construction of buildings to be leased or sold; and sale of land to third parties for their own development. Its activities also include communications leases, landscape maintenance, game management, and ancillary land uses, such as grazing leases. This segment leases land to 2 auto service stations with convenience stores, 10 fast-food operations, 2 full-service restaurants, 1 motel, an antique shop, and the United States Postal Service facility; microwave repeater locations, radio and cellular transmitter sites, and fiber optic cable routes; 32 acres of land for an electric power plant; and 1 office building in Rancho Santa Fe, California. The Resort/Residential Real Estate Development segment engages in land entitlement, land planning and pre-construction engineering, land stewardship, and conservation activities. The Mineral Resources segment consists of oil and gas royalties, rock and aggregate royalties, royalties from a cement operation leased to National Cement, and the management of water assets and water infrastructure. The Farming segment farms permanent crops, including wine grapes in 1,566 acres, almonds in 1,683 acres, and pistachios in 1,053 acres. This segment also manages farming of alfalfa and forage mix on 775 acres in the Antelope Valley; and periodically leases 810 acres of land for growing vegetables. Tejon Ranch Co. was founded in 1936 and is based in Lebec, California.