Diamond Bar Retail Centers

Diamond Bar, Los Angeles County, CA

120,000 Sq. Ft. of Leasable Retail Area

Fast Facts

Acquired
May 2015

Project Description

The Diamond Bar Retail Centers total 10.4 acres and are located in the City of Diamond Bar. The property includes two adjacent retail centers on Diamond Bar Boulevard, in close proximity to the 57 Freeway. With over 120,000 square feet of leasable commercial space, the tenants include a bowling alley, restaurants, medical offices and various retail uses. The centers are also in close proximity to Cal Poly Pomona and Mount San Antonio College, with a combined enrollment of about 60,000 undergraduate and graduate students.

Background

As Foremost continues to pursue greenfield and infill residential development opportunities, it is also diversifying its real estate holdings by acquiring income-producing assets in well-located areas throughout Southern California.

Value Added

Foremost acquired The Ranch Center in an off-market acquisition from Preferred Bank which had recently foreclosed on the center. At the Oak Tree Plaza, Foremost acquired and consolidated the interests of the long-term ground lease tenant and the underlying fee ownership while restructuring a new lease with the anchor tenant. Preferred Bank provided acquisition financing for both centers. Foremost has hired Stonewood Properties as the new property manager to undertake deferred maintenance and initiate a comprehensive leasing plan to improve occupancy and rent rates.

Our Values

Excellence In Everything We Do
Integrity In The Conduct Of Our Business
An Environment Of Teamwork And Trust
The Value Of Each Employee
Commitment To Our Partners And Customers
The Importance of Profitable Operations