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Chamber Building Fetches $20 Million

SAN DIEGO-Los Angeles-based Hamilton Capital Partners, an affiliate of Barker Pacific Group, acquires the office facility from Charter Building Ltd. The acquisition of the 173,682-sf asset marks Hamilton Capital's first foray into the San Diego market.

By Erin Cassin | Updated on April 28, 2003

SAN DIEGO-Los Angeles-based Hamilton Capital Partners, an affiliate of Barker Pacific Group, has made its first foray into the San Diego market with acquisition of The Chamber Building. The office asset has been purchased from Charter Building Ltd. for approximately $20 million.

“We have been looking for a great opportunity to acquire a key asset in this market,” says Michael Barker, managing director for Barker Pacific Group. “The Chamber Building fit our portfolio profile, and we felt there was good value in the price.”

Constructed in 1963, the facility is called The Chamber Building because the San Diego Chamber of Commerce was headquartered here until 1990. Encompassing 173,682 sf, the 23-story property stands on the corner of First Avenue and C Street. Located just one block from the San Diego County Courthouse and City Hall, the facility houses a number of law firms, as well as professional and legal service businesses. It is currently more than 90% occupied.

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