CalPERS Drops $198M For DC Office Building

Law360, New York (June 5, 2012, 1:58 PM EDT) -- CommonWealth Partners LLC has bought a nine-story landmark Washington office building one block from the White House for $198 million on behalf of the California Public Employees Retirement System, broker Eastdil Secured LLC said Tuesday.

The 248,495-square-foot Hamilton Square is a former department store rehabbed into a top-shelf commercial space, boasting IBM Corp., Capital One and Pepper Hamilton LLP as current tenants.

The seller was San Francisco-based realty firm Shorenstein Partners LLC, which bought the building in 2003 for $93 million and put it up for...
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