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

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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.