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| The Shoppes at Chino Hills, 13800---13920 City Center Drive, Chino Hills, CA |
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| Ryan Gallagher |
IRVINE, CA – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the $147 million sale of The Shoppes at Chino Hills, a
377,966-square-foot, trophy lifestyle center located in the Los Angeles suburb
of Chino Hills, California.
HFF marketed the property
on behalf of the seller, MX3 Ventures.
Dunhill Partners, Inc. purchased the asset. HFF handled the prior sale of this property
in 2010 from a bank consortium group led by Bank of America and the current
owner.
The Shoppes at Chino Hills
was originally developed by Opus West in 2008.
Located at 13800-13920 City Center Drive in Chino Hills, the open-air,
pedestrian-oriented center is part of a larger master-planned project that
includes the Chino Hills Civic Center, Chino Hills City Hall, Chino Hills
Police Station and the public library.
The 96-percent-leased property was designed by
Altoon + Porter architects and is anchored by Forever 21, H&M, Trader
Joe’s, Banana Republic, Victoria's Secret and Barnes & Noble.
The HFF investment sales
team representing the seller was led by Ryan
Gallagher and CJ Osbrink with assistance
from John Crump and Bryan Ley.
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| CJ Osbrink |
“We are very pleased with
the ultimate outcome of this transaction,” said Manouch Moshayedi of MX3 Ventures.
“We purchased the property in early 2010 while it was struggling due to
the downturn in the economy.
“We increased tenancy from
high 70 percent occupancy to more than 96 percent today. PMRG meticulously managed and maintained the
property. We have had a great team of
people help us grow our portfolio of real estate, and HFF and PMRG have played
a key role towards that outcome.
“We are very grateful to
both organizations. We congratulate
Dunhill in their acquisition of The Shoppes at Chino Hills."
"Dunhill Partners
continues to show its commitment to the California commercial real estate
market with our acquisition of the beautiful Shoppes at Chino Hills,” said William L. Hutchinson, president of
Dunhill Partners.
“We now have more than one million square feet
of some of the best retail space in California.
With our emphasis on tenant-friendly leasing and management, we hope to
continue to attract even more industry forward retailers to the Shoppes at
Chino Hills and to the rest of our California portfolio. We enjoyed working with Ryan and CJ and the
rest of HFF as we continue to grow our California presence.”
For a complete copy of the company’s news
release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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