Hidden Jewel In Opportunity Zone | 280 W 3rd Street, Pomona, CA

We’ve been “softly” marketing this restaurant property at 280 W 3rd Street in Pomona for the past several months in anticipation of updated news on the development of a major project in downtown Pomona – The Maya Theaters.

ACTIVITY IS PICKING UP…TIME TO SECURE NOW

I accepted an invitation and attended the ribbon-cutting ceremony for the North Las Vegas Maya Theater on January 10, 2019. I had the pleasure of meeting with their senior management members. Really nice first class facility and a team of professionals. A similar property is on track to break ground in Pomona the early part of this year and open doors by mid to late 2020. This will be a big upgrade to the neighborhood. Activity in Pomona is definitely picking up with Opportunity Zone tax benefits.

The City of Pomona also confirmed the progress. They passed Disposition & Development Oversight on August 6, 2018:

https://pomona.legistar.com/LegislationDetail.aspx?ID=3588208&GUID=1D900F02-CF1F-4499-91A5-F16222578274&Options=&Search

 Site of Maya Theaters (from the front door of the restaurant)

 

280 W 3rd Street is literally cross corner from the Maya Theater project. The theater will be a 12 to 14 big screen state of the art 50,000+ square foot facility. Foot traffic in the area will increase considerably.

The building is a 7,500 sq. ft restaurant. The current layout is a 200-seat casual eatery. However, it is the perfect location to divide and convert into 2 or 3 separate concept dining/retail stores. The property is mixed use permitted and the city will approve 3 to 9 stories – if high-rise residential/retail development is preferred.

280 W 3rd Street

 

https://www.dailybulletin.com/2018/08/27/new-movie-theater-for-downtown-pomona-moves-forward/

Lots of activity in the area including 2nd & Main 350 residential project.

Seeking equity partners or cash buyer. Contact me for more details:

Pete@MPiCRE.com | 949.244.2555

2019 CBRE Real Estate Market Outlook | “The strongest performance next year will be in the western markets of Phoenix, Las Vegas, Inland Empire, San Diego, Los Angeles/Southern California, and the Bay Area….”

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SEATTLE, Oct. 18, 2018 /PRNewswire/ — Rents declined nationwide on an annual basis for the first time in more than six years. The median U.S. rent is $1,440, according to the September Zillow® Real Estate Market Report [i] . That’s down 0.2 percent (which translates to $36 in annual rent) from last September, the first annual nationwide decrease since July 2012.

Investment Opportunities

Hidden Jewel In Opportunity Zone | 280 W 3rd Street, Pomona, CA

We’ve been “softly” marketing this restaurant property at 280 W 3rd Street in Pomona for the past several months in anticipation of updated news on the development of a major project in downtown Pomona – The Maya Theaters.

ACTIVITY IS PICKING UP…TIME TO SECURE NOW

I accepted an invitation and attended the ribbon-cutting ceremony for the North Las Vegas Maya Theater on January 10, 2019. I had the pleasure of meeting with their senior management members. Really nice first class facility and a team of professionals. A similar property is on track to break ground in Pomona the early part of this year and open doors by mid to late 2020. This will be a big upgrade to the neighborhood. Activity in Pomona is definitely picking up with Opportunity Zone tax benefits.

The City of Pomona also confirmed the progress. They passed Disposition & Development Oversight on August 6, 2018:

https://pomona.legistar.com/LegislationDetail.aspx?ID=3588208&GUID=1D900F02-CF1F-4499-91A5-F16222578274&Options=&Search

 Site of Maya Theaters (from the front door of the restaurant)

 

280 W 3rd Street is literally cross corner from the Maya Theater project. The theater will be a 12 to 14 big screen state of the art 50,000+ square foot facility. Foot traffic in the area will increase considerably.

The building is a 7,500 sq. ft restaurant. The current layout is a 200-seat casual eatery. However, it is the perfect location to divide and convert into 2 or 3 separate concept dining/retail stores. The property is mixed use permitted and the city will approve 3 to 9 stories – if high-rise residential/retail development is preferred.

280 W 3rd Street

 

https://www.dailybulletin.com/2018/08/27/new-movie-theater-for-downtown-pomona-moves-forward/

Lots of activity in the area including 2nd & Main 350 residential project.

Seeking equity partners or cash buyer. Contact me for more details:

Pete@MPiCRE.com | 949.244.2555

What if there was a way to experience tax deferral benefits like a 1031 Exchange but receive cash instead….

Is your 1031 Exchange in jeopardy because you can’t find an acceptable replacement property?

What if there was a way to experience tax deferral benefits like a 1031 Exchange…

But receive cash instead of having to buy a replacement property?

Well…there actually is such a strategy…and we’ve got the answer

 

 

 

 

 

Maya Downtown Pomona Theater Moves Forward

Great investment opportunity literally across from the new Maya Theaters in Pomona.

New movie theater for Downtown Pomona moves forward

It’s a question Mayor Tim Sandoval gets asked a lot: How’s the movie theater coming along? For 17 months, there wasn’t much he could say about the plan to bring a multiscreen movie house to Pomona’s downtown. The deal, after all, was held up in negotiations.

 

Why Multifamily Housing Will Dominate the Future of Real Estate

The Real Estate Market in Flux | Capital One

See our summary of long-term trends that will transform-and, in some cases, disrupt-real estate markets.

 

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