By Holly Dutton
Primior, a developer and investment management firm, has broken ground on First Harbor Plaza, a two-building commercial development in an opportunity zone in Santa Ana, Calif. Contour Real Estate is the co-developer of the project, which is the first of two opportunity zone developments for the two companies in the city.
Located at the intersection of North Harbor Boulevard and West First Street, the existing 67,953-square-foot property has been owned by the same family for nearly 70 years and will be revitalized into a 40,129-square-foot property that will feature restaurants, retail, office and medical space. Construction is slated to begin in the third quarter of this year, with completion anticipated by early 2020.
Building 1 at First Harbor Plaza will be a two-story structure consisting of 14,400 square feet split between two large anchor suites and five smaller spaces, with the same configuration for both floors. Chase Bank will be the anchor tenant of the property. Building 2 is slated to have approximately 3,880 square feet on the first floor, 3,778 square feet on the second floor split between two suites and 3,778 square feet on the third floor, which will be occupied by Optima Salon Suites.
First Harbor Plaza is in the heart of Orange County, near major thoroughfares, including interstates 5 and 405 and is about 9 miles from John Wayne Airport. Orange County’s office market has been growing steadily since 2015, led by the gaming, software, engineering and cybersecurity industries.