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Foremost Companies Announces Acquisition Of 100,000-Square-Foot Commercial Building In Pomona, Calif
By: Foremost Companies
"The purchase of this property is part of our strategy to actively seek value-add income-producing properties in well-positioned locations across Southern California,"
The acquired property is part of the 50-acre University Corporate Center business park. Current owners and tenants at the business park include pharmaceutical, professional offices and businesses, educational, and state and county offices.
The property is centrally located at the intersection of the I-10, SR-57, and SR-71 freeways, convenient to employment nodes in Los Angeles County, San Gabriel Valley, North Orange County, and the Inland Empire. The property has excellent freeway visibility and is located directly east of Cal Poly Pomona, a major California university.
"The Pomona purchase expands our income-producing portfolio, yet we still remain very active in seeking residential land investments,"
Stonewood Properties was hired as property manager to undertake deferred maintenance and service current tenant needs. Newmark Knight Frank's John Ewart and John Daciolas have been hired as leasing agents.
About Foremost Companies
Foremost Companies is a premier real estate investment firm that acquires property in strategic locations to entitle and sell high-quality developments to homebuilders or commercial developers. The company and its affiliates have owned and/or managed more than 12,000 residential lots across California and over the last few years has sold over $350 million dollars' worth of residential land to home builders. The company's urban infill and redevelopment team is specifically focused on Los Angeles and Orange Counties in areas with underutilized commercial properties. For more information on Foremost Companies, visit www.foremostcompanies.com.
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