ANAHEIM, CA—Glenair Inc. has signed a 15-year lease to occupy 205,887 sq. ft. of industrial space at 500 E. Cerritos Ave. in Anaheim, Calif. The company plans to use the space for manufacturing, which will add up to 300 jobs to the area over the years.
“Glenair's long-term commitment is a testament that manufacturing remains strong in Orange County,” said Zach Niles of Jones Lang LaSalle’s Orange County team, in a statement. “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.”
Niles, as well as Louis Tomaselli and Garrett McClelland represented the landlord. Bob Sattler and Jeff Gahagan of Lee & Associates represented Glenair.
According to JLL reports, the Orange County industrial market has one of the lowest vacancy rates in the country at five percent and demand continues to outpace supply. There is currently more than four million sq. ft. of industrial projects in the planning or construction stages.