Colliers International Completes the Sale of 78,021-Square-Feet Industrial Property for $3.9 Million in Chino, Calif.
Chino, CA – May 17, 2011 – (RealEstateRama) — Colliers International, the second largest global real estate services organization, has completed the sale of a 78,021-square-feet industrial building located at 5740 Schaefer Ave., Chino, Calif. to a Massachusetts-based aerosol cans manufacturing and distribution company, Shield Packaging of California. The transaction is valued at $3.9 million.
Brad Yates, vice president, and Richard Schwartz, vice president, based in Colliers International’s Inland Empire office represented the buyer. The seller, MRC Properties, LLC, was represented by Larry Null and Douglas Earnhart of Lee & Associates.
“Shield Packaging has been out in the market for several years in search of another facility for overflow storage of existing product,” said Yates. “Richard and I brought the Schaefer building to Shield late last year and discussed an opportunity to move their storage requirement to the Schaefer facility.”
“With several offers in play, Shield was willing to make a full price offer on the property. The seller accepted the offer, and we were able to successfully close escrow in under 90-days,” added Schwartz.
Built in the 1970s, the property is an older metal building with 78,021-square-feet of industrial space and 5,622-square-feet of office space. It offers seven ground level doors, two dock high doors with 2,000 Amps of Power, 20’clear height, and 5.5 acre parcel size.
Contact:
Angela S. Hwang
Regional Marketing Coordinator | Greater Los Angeles
Dir +1 213 532 3258 | Mob +1 310 867 4105
Main +1 213 627 1214 | Fax +1 213 327 3258
angela.hwang (at) colliers (dot) com
Colliers International
865 S Figueroa St., Suite 3500 | Los Angeles, CA 90017 | USA
www.colliers.com
