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California  + Bay Area  + Office  | 

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

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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