Chino Industrial Park Fetches $12M

CHINO, CA-A five-building industrial complex has changed hands in Chino. The buyer, a Thousand Oaks-based investment group, has paid more than $12 million for the property.

Known as Hayward Industrial Park, the complex encompasses 266,000 sf. It stands at the northwest corner of Central Avenue and Edison Avenue.

The buyer was represented by Ron Washle and Mark Kegans of the Ontario office of the Grubb & Ellis Co. Washle and Kegans also acted on behalf of the seller, El Segundo-based Edison Avenue Partners LLC.

Inland Empire industrial product has remained a favorable investment for companies, as this market has attracted a steady stream of tenants even during the economic downturn. Industrial users continue to turn to the Inland Empire market for product, as this region boasts two key characteristics that are advantageous to companies of all size: low rental rates and a varied selection of new product.