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154 W. Holt Avenue, Pomona, Ca 91768

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154 W. Holt Avenue, Pomona, Ca 91768 +/-10,375 SF RETAIL/OFFICE OWNER/USER OPPORTUNITY For Sale BANQUET HALL, RETAIL, OFFICE OR RESIDENTIAL 154 W. HOLT AVENUE, POMONA, CA 91768 www.154HoltPomona.com AFFILIATED BUSINESS DISCLOSURE DISCLAIMER CBRE, Inc. operates within a global family of companies with many This Memorandum contains select information pertaining to the Property subsidiaries and related entities (each an “Affiliate”) engaging in a broad and the Owner, and does not purport to be all-inclusive or contain all or part range of commercial real estate businesses including, but not limited of the information which prospective investors may require to evaluate a to, brokerage services, property and facilities management, valuation, purchase of the Property. The information contained in this Memorandum investment fund management and development. At times, different has been obtained from sources believed to be reliable, but has not been Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, verified for accuracy, completeness, or fitness for any particular purpose. may have or represent clients who have competing interests in the same All information is presented “as is” without representation or warranty transaction. For example, Affiliates or their clients may have or express an of any kind. Such information includes estimates based on forward- interest in the property described in this Memorandum (the “Property”) looking assumptions relating to the general economy, market conditions, and may be the successful bidder for the Property. Your receipt of this competition and other factors which are subject to uncertainty and may Memorandum constitutes your acknowledgment of that possibility and not represent the current or future performance of the Property. All your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to references to acreages, square footages, and other measurements are disclose to you such Affiliates’ interest or involvement in the sale or purchase approximations. This Memorandum describes certain documents, including of the Property. In all instances, however, CBRE, Inc. and its Affiliates will leases and other materials, in summary form. These summaries may not act in the best interest of their respective client(s), at arm’s length, not in be complete nor accurate descriptions of the full agreements referenced. concert, or in a manner detrimental to any third party. CBRE, Inc. and its Additional information and an opportunity to inspect the Property may Affiliates will conduct their respective businesses in a manner consistent be made available to qualified prospective purchasers. You are advised with the law and all fiduciary duties owed to their respective client(s). to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and CONFIDENTIALITY AGREEMENT financial advisors, and carefully investigate the economics of this transaction and Property”s suitability for your needs. ANY RELIANCE ON THE Your receipt of this Memorandum constitutes your acknowledgment that (i) CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK. it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition The Owner expressly reserves the right, at its sole discretion, to reject any of the Property, (ii) you will hold it in the strictest confidence, (iii) you will or all expressions of interest or offers to purchase the Property, and/or to not disclose it or its contents to any third party without the prior written terminate discussions at any time with or without notice to you. All offers, authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. you will not use any part of this Memorandum in any manner detrimental to nor the Owner shall have any legal commitment or obligation except as set the Owner or CBRE, Inc. If after reviewing this Memorandum, you have no forth in a fully executed, definitive purchase and sale agreement delivered further interest in purchasing the Property, kindly return it to CBRE, Inc. by the Owner. The Offering: CBRE, as exclusive advisor is pleased to present the opportunity to acquire the fee simple building located at 154-160 W. Holt Avenue in Pomona, CA (“Property”). Approximately 10,375 SF of 2-story retail/office situated on the main thoroughfare of Holt Avenue, nearby Downtown Pomona. The property is well-located with numerous adjacent retail amenities and nearby public transportation. Previously used as a Banquet Hall and zoned for general commercial (to be reused as office, commercial or residential), this property offers an owner/user the unique ability to occupy a building nearby the rapidly improving Downtown Pomona corridor. Description Property Address 154-160 W. Holt Avenue, Pomona, CA 91768 Asking Price: $1,750,000 Total Building Area: 10,375 SF Land Area: 7,569 SF APN: 8336-022-002 Stories: 2 Year Built: 1929 Frontage: +/- 63’ (W. Holt Avenue) Percentage Vacant: 100% Zoning: Pomona Corridors Specific Plan – Neighborhood Center Uses*: Reuse for Office, Retail, or Residential Parking: Abundant Free Surface Parking directly behind the Property (City owned lot) *Please contact the City Planning Department to verify all zoning and use related questions. Property This 2-Story, +/- 10,375 SF building is located on a +/- 0.17-acre land parcel situated on the south side of W. Holt Avenue, just west of S. Garey Avenue. Built in 1929, this building features beautiful architectural elements to the façade, large open areas ideal for creative office/retail uses, and abundant window line on the north side of the building. The Property benefits from a large City owned surface parking lot to the rear of the building offering free parking for adjacent businesses and visitors. Approximately ¼ mile north of the Pomona Downtown Metrolink Station and minutes from Interstate 10 and California State Route 57, 210 and 71 Freeways, the Property offers excellent access to public transportation and is strategically located within the heart of the San Gabriel Valley. Touting a pedestrian friendly Walk Score of 92 “Walker’s Paradise,” nearby retail amenities and centralized within the densely populated area of Downtown Pomona, the Property is suitable for a number of end users including office, retail, specialty and mixed-use residential uses. Location Chino Hills Mission Promenade Pomona Shopping Center Public Library Pomona Courthouse The Downtown Center of Arts and Enterprise 2ND STREET The Village (former YMCA mixed use project) Pomona N PARK AVE Downtown GAREY AVE 154 W. Holt W HOLT AVE N GORDON ST N MAIN ST Parcel Map LAMBIE SUBDIVISION OF BLOCK 155 IN TOWN OF POMONA HOLT AVE. MAIN ST. GAREY AVE. CENTER ST. Pomona On January 6,1888, Pomona was incorporated as a City and DOWNTOWN POMONA became a charter City in 1911. Today, Pomona is the seventh Downtown Pomona is a safe, clean, friendly, historic mixed-use urban largest city in Los Angeles County, with a population of over 151,000 residents. Pomona boasts a progressive economy, neighborhood that serves as a regional destination for the arts, business opportunity, and a strong workforce with attractive antiques, retail and entertainment and is the center for commerce, shopping, recreational, and real estate offering. education and culture within the diverse community. The local community supports dynamic business enterprises including the annual Los Angeles County Fair which generates a national economic impact of over $250 million. A variety of lifestyle and recreational amenities are close to the Property, including a weekly Certified Farmers Market, monthly Artwalk gatherings, parks, and convenient access to the San Gabriel mountains. Metrolink’s Downtown Pomona commuter rail train platform is located a few blocks from the Property and provides direct access to Downtown Los Angeles/Union Station to the west and Downtown San Bernardino to the east. Top employers in the city are Pomona Unified School District, Pomona Valley Hospital Medical Center, California State Polytechnic University, Pomona, Lanterman Developmental Center, City of Pomona, Casa Colina Rehabilitation Center, Verizon, County of Los Angeles Department of Social Services, First Transit, and Cal Spas. History According to Los Angeles Assessor data, the building at 154 West Holt Avenue was constructed in 1929. The building permit for the building was filed by the Holt Avenue Investment Company in February 1929, and construction was started shortly after that date. CHARACTER-DEFINING In October 1929, the Stock Market Crash occurred, ARCHITECTURAL FEATURES and the investment group may have sold the OF THE BUILDING INCLUDE building (for pennies on the dollar) to Charles M. (BUT ARE NOT LIMITED TO): Gibson. Mr. Gibson appears to have owned and operated the St. Charles Grill from 1930 to the early 1940s. The St. Charles Grill was owned by a series of individuals for the next 60+ years. Many local social, political, fraternal, and business organizations held meetings and Marks and traces of the poured-concrete events at the St. Charles Grill, as noted in articles in the Los Angeles Times from exterior wall construction 1930 to the 1970s. The building was given a façade designed in the Spanish Revival style of architecture and applied to a commercial building. Wrought iron window tracery The building is an excellent example of a Spanish Revival styled retail property remaining in the City of Pomona. Archival research has revealed that the St. Wrought iron balconettes Charles Grill was one of the main meeting places for a variety of the City’s political, benefactor, and community organizations for over 40 years. Constructed Arched façade opening with wood doors in the early days of the Great Depression, the building conveys the exuberance of and surrounding glass the late 1920s, with a “high style” architectural design meant to attract not only the better customers of Pomona society, but to those persons driving through Half-round metal-framed windows with town on the newly designated “Sunkist Highway”.
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