Santa Ana offices entitled for redevelopment sell for $19.2M Harbor Associates, LLC has sold a more than 111,000-square-foot office building at 2020 E. First Street to a homebuilder, the company announced late last month. 

Rendering of 2020 East First Street townhomesKevin L. Crook Architect Inc.

Meritage Homes acquired the site, which was initially developed in the 1980s. The property has seen occupancy crater in the wake of the COVID-19 pandemic. The property has already been approved this year for redevelopment with 86 two-, three-, and four-bedroom townhomes.

“The COVID pandemic changed the way users live and work. Our recent adaptive reuse business plans are reflective of markets that have an excess supply of office inventory, but are dramatically undersupplied for housing, industrial and life science uses,” said Harbor principal Paul Miszkowicz.  “We anticipate more change in the built environment over the next 10 years than in the previous 30 years combined and are prepared to meet the needs of our local communities head on.”

Harbor Associates has also secured approvals for the redevelopment of an office property in the City of Los Angeles with 228 homes, and is developing several other projects within Los Angeles County and the City of Denver.

Site plan for 2020 East First Street townhomesC2 Collaborative

Greg Sullivan and Anthony Delorenzo of CBRE advised Harbor on the sale of the property.

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