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CHINO HILLS, CALIF. — Los Angeles-based Grand Gateway I, II and III LLC has purchased Gateway Village, a 96,959-square-foot shopping center located at 3560-3670 Grand Ave. in Chino Hills. Newport Beach, Calif.-based Gateway Village I, II and III LP sold the property for $47.2 million or $487 per square foot. The eight-building property was 100 percent occupied at the time of acquisition. Current tenants include Henry’s Market (Wild Oats Market Inc.), Baja Fresh, Bank of America, Chevron, Coffee Bean & Tea Leaf, Chick-fil-A and Chili’s. Edward Hanley of Hanley Investment Group Real Estate Advisors represented both parties in the transaction.