Hamilton Place Lands 68,000-SF, $22M Tenant

The new Hamilton Place tenant is a tax and business information specialist that has been around since 1913, the year the federal income tax was created, according to its website. It markets books, software, on-line courses and other products, including more than 700 publications in print and electronic form.

Chase Partners, which bought the Hamilton Place last year, was represented in the CCH lease by John Anthony and Robert Wood of Charles Dunn's Los Angeles office along with Bill Bloodgood of CB Richard Ellis. CCH was represented by Greg Gill, Greg Bendis, Eugene Page and Kim Emery of Charles Dunn's Long Beach office.

The CCH Inc. lease follows a 40,000-sf lease with Applied Signal Technologies at Hamilton Place, a deal inked last year. Chase Partners, which is based in L.A., acquired the three-story class A office development for $43 million in a deal that was brokered by Dunn.

When Chase bought the property, Bloodgood told GlobeSt.com that the new owner was taking over the building at a time of increasing demand for quality office space in the 190th Street Corridor. He pointed out that demand in the submarket grew significantly in 2007 after lagging in the previous several years and that Hamilton Place lays claim to being "the best low-rise office alternative in this area."

Built in 1985, Hamilton Place is designed in the shape of a diamond, with an interior courtyard and water feature that serve as the centerpiece of the building. The new ownership's business plan for the property includes upgrading the common areas and adding on-site retail amenities to the building, which already features extras such as a raised floor computer room and high-quality existing improvements. It also provides above average parking ratios and extensive free on-grade parking.