ANAHEIM, CA—Jones Lang LaSalle has brokered a new 15-year, 205,887 square-foot industrial lease with Glenair Inc. at 500 E. Cerritos Ave. in Anaheim. Glenair will occupy the space for manufacturing and expects to add up to 300 new jobs over time.
Jones Lang LaSalle Orange County team members Zach Niles, Louis Tomasell and Garrett McClelland represented the landlord.
Glenair was represented by Bob Sattler and Jeff Gahagan of Lee & Associates.
“Glenair's long-term commitment is a testament that manufacturing remains strong in Orange County,” Niles said. “Manufacturers value Orange County's infrastructure, proximity to major transportation hubs, economic empowerment zones and its highly-skilled workforce, all elements that are very difficult to duplicate elsewhere.”
JLL notes that Orange County's industrial market continues to boast one of the lowest vacancy rates in the United States at approximately five percent and that demand continues to outpace supply. Such market conditions make for strong rent growth.
Tomaselli added that developers have taken note and have come off of the sidelines with more than four million square feet of new industrial product currently under construction or planned.
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Additionally, and more than half of the product under construction or planned is already spoken for.
500 E. Cerritos Ave., is ideally located in the Anaheim Stadium area of Central Orange County with strategic access to all major transportation and logistics hubs.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
