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5/01/25
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Meritage Homes has purchased a vacant 111.5k sf office building at 2020 E. First St in Santa Ana, between I-5 and the 55 Fwy, for a residential conversion project. The asset was sold for $19.2 mil by Harbor Associates LLC after having secured entitlements for the multifamily redevelopment.
Harbor received approvals last quarter to convert the 1980’s vintage office building into an 86-unit townhome community that is planned to offer a mix of two-, three-, four-bedroom and live/work units.
Greg Sullivan and Anthony Delorenzo of CBRE advised Harbor in the sale to Meritage.
In other recent activity, Harbor secured approvals to demolish a 118.8k sf office building in the Santa Clarita area of unincorporated Los Angeles County and replace it with a 115k sf industrial building. The firm is currently finishing up the final touches of a 119k sf, R&D-to-life science campus conversion in the City of Agoura Hills, 35 miles west of downtown Los Angeles. The firm is also planning for an office-to-116 residential unit conversion in the City of Denver and a 6.75 acre industrial-to-IOS business plan in the Harbor Gateway area of unincorporated Los Angeles.
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