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Industrial Will Replace Renovated Santa Ana Offices
Kearny Real Estate Company and Dune Real Estate Partners announced plans to develop Harbor Logistics Center, a new 163,000-square-foot industrial facility to replace a recently renovated office campus in Santa Ana.
With construction projected to begin in the first quarter of 2024, the development underscores the demand for quality industrial assets amid a further weakening post-pandemic office market.
Kearny acquired the eight-acre office campus at 3130 and 3100 S Harbor Blvd. in 2018, returning it to market a year later after completing a multimillion-dollar renovation and rebranding it as Elevate@Harbor. The office campus will be razed to accommodate the construction of the Harbor Logistics Center.
“We were well on our way to stabilizing the campus when the pandemic hit,” said Kearny assistant VP Dan Broder. “Taking into account the ongoing weakness in the Orange County office sector, our analysis showed that, despite what we’ve already invested, the optimal long-term use for the property was industrial.”
- ◦Development
