Seller Expects $150M for Shoppes at Chino Hills

IRVINE, CA—A private Southern California-based investment group that is selling The Shoppes at Chino Hills in Chino Hills, CA, expects to fetch close to $150 million for the trophy asset, Ryan Gallagher, senior managing director of HFF here, tells GlobeSt.com. Gallagher, along with managing director Bryan Ley and associate director CJ Osbrink, is marketing the 338,000-square-foot retail property. The firm also handled its prior sale in 2010 from a bank consortium group led by Bank of America to the current owner.

As GlobeSt.com reported in August 2013, PM Realty Group has provided third-party leasing and operations for the center since original developer Opus West filed bankruptcy in 2008. PMRG was retained by Bank of America as the center was put up for sale and was asked to stay on by new ownership, a family trust that purchased the center in spring 2010. Due to the Opus bankruptcy and downturn, the center got off to a rough start, but, as GlobeSt.com reported in May 2013, has seen a strong comeback with many months of increased sales.