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Commercial Real Estate in Pomona, California

Retail

  • A new retail building has been proposed to be built at 46 Rio Rancho Rd. within the Pomona Ranch Plaza Shopping Center. One of the proposed units will be occupied by Pomona Pizza Company.
  • 7th & Garey: A new shopping center anchored by Smart & Final is being developed. 
  • Maya Cinemas will be building a 15-screen movie theater at the southeast corner of Second St. and Park Ave. This will be the first movie theater in downtown Pomona since the Fox Theater closed in 1977. Construction is expected to begin in August 2019.
  • The former Mission Family Restaurant at 888 W. Mission Blvd will be torn down, and the entire block on the southeast corner of Mission and White will be redeveloped to contain a 7-11, Family Dollar, a laundromat, and a restaurant.
  • A subdivision of the existing CVS Pharmacy on 775 E. Foothill Blvd has been proposed. The site would be split up into a smaller CVS and Smart & Final Grocery store. A new CVS drive-through could come as a result of the project on the northwest corner of Towne Avenue and Foothill Boulevard.

Hotel projects:

  • A new three-story, 132 room hotel is in the planning stages at 700 East Foothill Boulevard.
  • The Hilltop Suites hotel has reopened as a DoubleTree by Hilton.
  • A new five-story, 149-room Hilton Garden Inn is under construction on Rancho Valley Drive.
  • A six-story, 200-room Hyatt Place hotel in Pomona Ranch Plaza will be breaking ground soon.

Residential Projects

  • A 334 unit mixed use apartment complex with ground floor retail is coming to the area along the north side of 2nd Street from Park Avenue to Diamond/Thomas Plaza. Two new buildings will be constructed in addition to a reuse of the former Vault Club. The buildings will cater to students, faculty, and the existing academic community.
  • Phillips Ranch area: Lennar Corp has purchased a 13.9-acre site in Phillips Ranch and is building 124 homes and 6,000 SF of retail space there.  It was formerly a grocery store.
  • Beazer Homes: New townhome project called Bonita Village at 860 E Bonita Ave.  Priced from $389k.
  • Melia Homes: New community called The Avenue at Garey & LaVerne Ave. They are east coast style homes with the front doors directly on the sidewalk, priced from the mid 400s.
  • Olivera Senior Apartments at 600 S. Dudley St. were recently completed.
  • Park Avenue Veterans Apartments – Veterans housing on Park & Monterrey – coming soon
  • Monterrey Station Phase II (180 E Monterey Ave.) has been completed.
  • Richmond American Homes has completed a community called the Grove at the southwest corner of Towne and Harrison. The homes are 1530-1850 square feet, and all have been sold.

Western University and Fuller Theological Seminary Real Estate transactions

  • Western University of Health Sciences is rapidly expanding in Pomona. They purchased the Chase Bank building and will occupy most of the building.
  • Western University is also constructing two dormitories with 320 units each.
  • Fuller Theological Seminary has operated in Pasadena for over 70 years.  The seminary will move to Pomona by 2021 and recently has been purchasing several properties in downtown Pomona.  Some of the properties they recently acquired include:
    • Former Crocker Bank – SWC of Holt and Garey, $2.55MM
    • Arcade, which was the former Sunkist Theater, $1.25MM
    • Office building at 411 N. Garey, $1.4MM
    • Former St. Charles Grill, 154 W. Holt, $1.4MM
    • Former Bob’s Big Boy, 221 W. Holt Ave, $1.35MM

(source: dailybulletin.com, 7/14/18)

LA Metro expansion

  • The Foothill Gold Line from Glendora to Montclair will extend the Metro Gold Line 12.3 miles and add stations in the cities of Glendora, San Dimas, La Verne, Pomona, Claremont, and Montclair.
  • Substantial completion is anticipated in 2028. Currently, the project is in the phase of relocating utilities.  Major construction will begin in 2020.
  • Once completed, a trip from Montclair to downtown Pasadena will take just over 40 minutes and further to Los Angeles will take approximately 75 minutes.
  • In Pomona, new light rail bridges will be built over Garey and Towne Avenues.