trending Market Intelligence /marketintelligence/en/news-insights/trending/AVmovA8y9la0MLjDjaKf_g2 content esgSubNav
In This List

Report: San Jose, Calif., twin towers sold for $283.5M

Blog

Insights Weekly: Midstream sector gains; loan growth momentum; insurance M&A on the rise

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection

Video

S&P Capital IQ Pro | Powered by Advanced Visualization


Report: San Jose, Calif., twin towers sold for $283.5M

DivcoWest and Rockpoint Group closed the acquisition of downtown San Jose, Calif.'s Riverpark Towers for a combined price of roughly $283.5 million, the Silicon Valley Business Journal reported, citing county records.

The two nearly identical buildings were constructed roughly two decades apart and are fully leased.

The 16-story, 302,576-square-foot 300 Park Ave. building, which is the newer of the two towers, sold for roughly $164.7 million, or $544.31 per square foot, marking a record-breaking per-square-foot price for downtown San Jose, the Dec. 20 report noted.

The 1987-built tower at 333 W. San Carlos St., spanning 300,224 square feet, sold for roughly $118.8 million, or $395.57 per square foot.

The office properties are being sold by Steelwave, according to a recent report.