Kearny Real Estate Company and Dune Real Estate Partners have announced plans to develop the Harbor Logistics Center, a new 163,000-square-foot industrial facility in Santa Ana. Construction is projected to begin in the first quarter of 2024, highlighting the demand for quality industrial assets amid a weakening post-pandemic office market.
In 2018 Kearny acquired an eight-acre office campus at 3130 and 3100 S Harbor Blvd., completing a multimillion dollar renovation before returning it to market as Elevate@Harbor one year later. The property will now be razed to make way for construction of the Harbor Logistics Center.
“We were well on our way stabilizing when COVID hit,” said Dan Broder, assistant VP at Kearny “Taking into account ongoing weakness in Orange County’s office sector our analysis showed that despite what we had already invested long term use was best served by an industrial asset.”
