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Chino council authorizes purchase of 2.38-acre site at 13272 6th Street for $2.5 million
Summary
The City Council approved acquisition of approximately 2.38 acres improved by a ~67,000 sq. ft. commercial building at 13272 6th Street for $2,500,000, including a $60,000 deposit and a 90-day due-diligence period; the Planning Commission previously found the acquisition consistent with the general plan.
The Chino City Council on April 21 approved a purchase-and-sale agreement to acquire a 2.38-acre parcel at 13272 6th Street for $2,500,000, with a $60,000 deposit and customary due-diligence protections.
City attorney Fred Galante briefed the council on the proposal, saying the seller’s appraisal and the city’s comparative analysis supported the $2.5 million valuation. The property is improved by an approximately 67,000-square-foot commercial building and includes a current tenant engaged in cabinet manufacturing; the purchase agreement requires the property be delivered free of tenants.
Under the agreement described to council, the city will place a $60,000 deposit and have a 90-day due-diligence period to review site documentation; if the city terminates within that period for unsatisfactory conditions it may recover the deposit. The standard escrow period was described as 70 days after due diligence, with the seller retaining the right to extend to complete tenant vacation if necessary.
Galante said the purchase is proposed for future civic uses complementing the adjacent civic center and noted that a Planning Commission hearing on April 15 found the acquisition conforms with the city’s general plan (6–0, with one abstention).
Councilman Flores moved to authorize the purchase and joint escrow instructions; Councilman Lucio seconded. The council voted unanimously to approve the acquisition.
The council’s approval directs staff and the city attorney to complete escrow and due-diligence steps consistent with the purchase agreement. If issues arise during due diligence the city may withdraw and recover the deposit within the 90-day window; otherwise the deposit may be forfeited if the city terminates after that period.
