HFF senior managing director Ryan Gallagher, who heads HFF'sSouthern California investment sales team, tells GlobeSt.com thatthe 380,000-square-foot lifestyle center is being offered unpriced,but pricing is expected to be in the neighborhood of $100 million.The property, which is cash-flowing and is 87% occupied, isexpected to draw bids from REITs, institutional investors,opportunity funds and high-net-worth individuals, Gallagher says.He notes that the shopping center is believed to be the largest REOnow on the market in Southern California in terms of value.

"This is a really rare opportunity to pick up a trophy asset, ata discount, 18 months after it was developed," Gallagher says."This is an asset that would not be available if it hadn't been foran entity-level bankruptcy." The center and the Commons at ChinoHills were both developed by OpusWest, which filed for Chapter 11 bankruptcy lastsummer.

Located at the intersection of Grand Avenue and Peyton Drive,the Shoppes at Chino Hills was designed by the architectural firmAltoon + Porter and is part of a 750,000-square-foot master-plannedproject that includes Chino Hills Civic Center, Chino Hills CityHall, the Chino Hills Police station and a public library. The cityhas $40 million invested in the 50-acre master-planned project.