A $35-million business park is planned on 53 acres of industrial property on Sampson Avenue, Corona, purchased by Cove Development Co. of Newport Beach.
Cove Development and its joint-venture partner, Continental Land Research, acquired the land for $5 million in six separate transactions, the two largest with Magnolia Partnership and B. C. E. Development. Grubb & Ellis, Newport Beach, was the broker.
The master-planned park will include about 200,000 square feet of industrial buildings from 51,000 to 82,520 square feet, targeted for completion in the third quarter of this year. Lots will offer signage adjacent to the Riverside Freeway.