Kearny, Dune Deliver Orange County Project

Kearny Real Estate Co. and Dune Real Estate Partners have completed Harbor Logistics Center, a 163,000-square-foot Class A industrial facility in Santa Ana, Calif.

The warehouse came online on the site of a former 200,000-square-foot office campus, which was demolished nine months prior. TDA Investment Group provided a $50 million construction loan for this project, with a maturity date set in 2027, according to CommercialEdge. CBRE will oversee the leasing efforts at the industrial property.

Harbor Logistics Center is at 3100 S. Harbor Blvd., close to John Wayne Airport and one mile from Interstate 405. Ports of Los Angeles and Long Beach are both within 30 miles from the property, while Los Angeles International Airport is 37 miles away.

The facility is the only industrial building with 36-foot clear heights within a 4-mile radius. The property features ESFR sprinkler systems, a 7,000-square-foot office component, 17 dock-high doors, two grade-level doors and heavy power capacity, as well as 241 vehicle parking spots and a 185-foot-deep truck court. CBRE Senior Vice President Keith Greer, together with Executive Vice Presidents Ben Seybold and Sean Ward, are its leasing brokers.

Orange County, the tightest industrial market

At the end of 2024, Orange County was the tightest industrial market in the nation for occupancy, a recent CommercialEdge report shows. The region closed the year with a 4.2 percent vacancy rate, way below the national rate of 8 percent. Orange County was also the most expensive market in the U.S. for rent prices, asking rents averaging $16.20 per square foot.

Meanwhile, the county’s under-construction pipeline was the second-smallest in the nation, totaling just 1.5 million square feet. One of the underway projects is Bake Freeway Business Park, a 380,000-square-foot campus in Irvine, Calif., developed by Tishman Speyer and Mitsui Fudosan America.