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DivcoWest, Rockpoint Buying San Jose Towers for $284M
San Francisco-based DivcoWest and Rockpoint Group are acquiring Riverpark Towers in downtown San Jose from Foster City-based SteelWave for $283.5 million. The more than 600,000-square-foot, two-building office property is located at 333 West San Carlos St. and 300 Park Ave.
Riverpark Tower I, a 16-story, 300,224-square-foot building, was developed in 1987 and is currently 76% leased. Riverpark Tower II, also 16 stories and with 302,576 square feet, was built in 2009 and is 94% leased.
The granite-clad properties are situated alongside the Guadalupe River, and feature a central courtyard with landscaping, seating and fountains, providing a park-like feel in a CBD location. Riverpark Tower II earned LEED Gold certification from the U.S. Green Building Council in 2010, the first office building in San Jose to receive this distinction.
Eastdil Secured is handling the transaction on behalf of the seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


