Real Estate (Tables)

12 Months Ended

Dec. 31, 2017

Real estate consists of the following at December 31:



($ in thousands)	2017			2016
Real estate development
Mountain Village	$	132,034		$	126,096
Centennial	94,271			89,381
Grapevine	28,139			23,917
Tejon Ranch Commerce Center	12,892			8,871
Real estate development	267,336			248,265

Real estate and improvements - held for lease, net
Tejon Ranch Commerce Center	21,123			21,643
Real estate and improvements - held for lease	21,123			21,643
Less accumulated depreciation	(2,008		)	(1,617		)
Real estate and improvements - held for lease, net	$	19,115		$	20,026