Harbor Associates Makes Big Office Buy in OC
The investor has acquired a two-property 365,000-square-foot office portfolio for $80 million.
Harbor Associates has acquired a two-property 365,000-square-foot office portfolio in Orange County for $80 million. The properties include Anaheim City Centre, a 10-story 195,000-quare-foot tower in downtown Anaheim and Crown Cabot, a six-story 173,000-quare-foot property in Laguna Niguel.
Harbor plans to execute capital improvements on both properties. It will immediately begin renovations across the portfolio which will include lobby enhancements, building exterior improvements, new signage, move-in ready suites, EV charging stations, LED lighting retrofits and restroom and corridor updates.
This portfolio represents the 25th office acquisition in the last five years for Harbor. The firm intends to build on its recent momentum by sourcing new opportunities and pursuing similar strategies throughout Southern California with the goal of acquiring $250M over the next 12 months.