LONG BEACH, CA—San Diego-based Parallel Capital Partners has named JLL as the exclusive leasing agents for Shoreline Square, a 383,652-square-foot, 20-story class-A office property in Long Beach that overlooks the Queen Mary, GlobeSt.com reports exclusively. Parallel Capital purchased the property in April of this year for $101.7 million. Now, JLL will seek to lease the remaining square footage.

The property currently has 90% occupancy, which it has maintained since 2008. According to JLL, there is an immediate availability for users needing anywhere from 616 square feet to 24,500 square feet. The building's tenants include UBS Financial Services, Comerica Bank, Apriso, Long Beach Convention and Visitors Bureau and U.S. General Services Administration.

JLL SVP George Thompson, SVP James Estrada and VP Eric Adamswill lead the leasing efforts on behalf of JLL. The team was chosen for its knowledge of the Long Beach market. According to Estrada, the market has a declining vacancy rate and the market fundamentals are ever improving. They plan to market the property to class-A tenants looking for an urban setting and nearby shops and restaurants, which is in line with Parallel's plans for the building.

At the time of the sale, the company's CEO Matt Root said, “Downtown Long Beach is undergoing a significant renaissance and transforming from a maritime-centric economy into one of Southern California's most diversified and dynamic waterfront urban destinations to live, work and play." With the revived market and first-rate amenities, the two believe they will attract additional high-profile tenants to lease out the remainder or the space.