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ANAHEIM, CA

Longust Distributing Signs First Lease at 1.4 Million SF Anaheim Concourse


ANAHEIM, CALIF., October 6, 2014 – JLL represented Longust Distributing in a 10-year, 93,818-square-foot new industrial lease at Anaheim Concourse, a 1.4 million-square-foot master planned, three-phase industrial project  currently being developed by a partnership of Panattoni Development Company and Clarion PartnersLongust Distributing, a major wholesale flooring distributor serving the Southwest, will occupy the space upon completion in 2015 for its Southern California distribution center.

JLL Orange County's Senior Managing Director Louis Tomaselli, Senior Vice President Zach Niles and Senior Vice President Steve Wagner represented Longust Distributing.  The landlord, Panattoni Development and Clarion Partners, was represented by CBRE Senior Vice President, Brad Bierbaum.

“After a comprehensive market analysis, supply chain and logistics study, Longust Distributing decided that leasing state-of-the-art space at Anaheim Concourse was the most cost efficient alterative based on its 32-foot clear ceiling height, ability to rack five high, the most accessible transportation network, and the ability to remain in the business friendly City of Anaheim. " said Tomaselli.  “While the Orange County industrial market continues to tighten, JLL was able to negotiate lease terms that provided flexibility for growth and cost savings based on effective use of cube height."

Tomaselli added: "Orange County, along with Southern California, has broken through 2008 historical, pre-recession vacancy lows and lease rate highs. Orange County in particular is anticipated to enjoy strong occupancy levels based on the continuing story of strong and stable tenant and owner-occupier demand, complemented with a limited amount of new supply coming on line. Currently, the Orange County industrial market has a second quarter direct vacancy of 4.1 percent."

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About Panattoni Development Company
Panattoni is a privately held, full service real estate company  founded in 1986 and headquartered in Newport Beach, California,  Panattoni  has offices in major markets throughout the United States, Canada and Europe where it has developed industrial, office, and retail projects in more than 240 markets totalling in excess of  200 million square feet. The company has the depth, expertise and capacity to quickly respond to the demands of its clients. Panattoni provides users multi-market solutions completing quality projects on time and within budget.

About Clarion Partners, LLC
Clarion Partners has been a leading U.S. real estate investment manager for 32 years. Headquartered in New York, the firm has offices in major markets throughout the U.S., in São Paulo, Brazil and London, England, as well as a presence in Mexico. With more than $32 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.  More information about the firm is available at www.clarionpartners.com.

About Longust Distributing, Inc.
Since 1974, Longust Distributing, Inc. has been a major wholesale flooring distributor serving the South western U.S., supplying CA, AZ, NV, NM, and West Texas with a wide range of hard surface flooring products, delivered through a dedicated logistics network, bringing some of the best products available in the flooring market through partnerships including Crossville, Hallmark, Interceramic, Mannington and Vitromex.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $50.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.​