Real Estate (Tables)

12 Months Ended

Dec. 31, 2018

Real estate consisted of the following as of December 31:



($ in thousands)	2018			2017
Real estate development
Mountain Village	$	137,571		$	132,034
Centennial	100,311			94,271
Grapevine	31,175			28,139
Tejon Ranch Commerce Center	14,328			12,892
Real estate development	283,385			267,336

Real estate and improvements - held for lease, net
Tejon Ranch Commerce Center	21,327			21,123
Real estate and improvements - held for lease, net	21,327			21,123
Less accumulated depreciation	(2,374		)	(2,008		)
Real estate and improvements - held for lease, net	$	18,953		$	19,115