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Real Estate/Development

Jul. 2, 2016

Former US Bank building sold to Hammer Ventures

A broker said the plan is to take the Class C building and convert it into a tower that can compete with any office building in the city. The building's location near City Hall, Horton Plaza Park, and Horton Plaza is a major plus.

The 324,341-square-foot former U.S. National Bank Building in downtown San Diego has been sold for nearly $54.4 million to a unit of Hammer Ventures of San Diego.

The 1963-vintage building at 1010 Second Avenue was originally developed and owned by the late financier C. Arnholt Smith.

Tim Cowden of Colliers International represented the buyer, which was Tower 180, Owner LLC, a unit of Hammer Ventures.

The seller of the property was Executive Complex LP, an entity of ...

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