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Kearny and Dune JV to develop warehouse and distribution center in Santa Ana, Calif.
Kearny Real Estate Company and Dune Real Estate Partners have announced plans to develop Harbor Logistics Center, a new 163,000-square-foot state-of-the-art industrial facility, which will replace a recently renovated office campus in Santa Ana, Calif., conveniently located near U.S. Interstate 405 and California State Route 55.
With construction projected to begin in the first quarter of 2024, the development underscores the demand for quality industrial assets against a backdrop of 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, which will be razed to accommodate the construction of the Harbor Logistics Center, features two midrise office buildings, outdoor amenity space, indoor/outdoor fitness facility with showers and locker rooms, on-site