Western University of Health Sciences has purchased The Armstrong Building in downtown Pomona, acquiring a prominent mixed-use property as an expansion of its nearby campus. The 27,980-square-foot building, described as iconic, traded for $2.98 million. Progressive Real Estate Partners arranged the transaction.
The property is located at 150-196 E. Third St. and 345 S. Locust St. in Pomona. Western University plans to use the asset as an extension of its downtown Pomona campus, adding to its existing footprint in the area. The building provides a mix of street-level commercial space and residential lofts that can support a variety of university-related uses.
The Armstrong Building was previously owned by David Armstrong, the late founder of the Museum of Modern Ceramic Art. Under his ownership, the property became associated with Pomona’s cultural and arts community, and it now transitions into institutional hands as part of a growing higher-education presence downtown.
The building includes seven ground-level commercial units, which offer storefront visibility along the surrounding streets, and eight modern residential lofts above. This configuration gives Western University the option to incorporate both academic or administrative functions and housing or live-work space into its campus expansion strategy, depending on future needs.
Progressive Real Estate Partners led the sale process on behalf of the seller, a private investor based in Los Angeles. The firm announced the closing of the $2.98 million transaction and highlighted that its team provided investment sales expertise for the disposition. The deal underscores ongoing investor interest in mixed-use assets with embedded residential and commercial components in established downtown corridors.
Progressive Real Estate Partners’ senior vice president of retail leasing investment sales, Roxy Klein, and senior vice president and managing director, Greg Bedell, represented the seller in the transaction. Their involvement covered marketing the asset and negotiating terms with Western University of Health Sciences to bring the sale to completion.
Commenting on broader market dynamics, Bedell noted that limited availability of properties suitable for owner-occupiers, coupled with rising lease costs, is encouraging many users to consider buying rather than leasing. He added that, for some occupiers, the economics of ownership compared with leasing can be roughly equivalent, even under current interest rate conditions. The Armstrong Building sale reflects that environment, in which institutional owner-occupiers are active buyers of well-located mixed-use assets.
