Closest Class A to Diridon Set for Reposition

Riverpark Towers is a 600,000-square-foot class-A office complex near Diridon Station.

SAN JOSE—Sources tell GlobeSt.com that DivcoWest and its joint venture partner Rockpoint Group have completed the purchase of Riverpark Towers, a 600,000-square-foot class-A office complex near Diridon Station in downtown. The deal closed Wednesday and the recorded price is $283.5 million or $473 per square foot.

One tower includes 300 Park Ave., which is 2009-era construction, and 93.5% leased. The other tower at 333 W. San Carlos was built in 1987 and is 77% leased. The property overlooks the land proposed for Google’s campus and until Google builds, is the closest class-A office complex to the main transit hub, Diridon Station. This is where Caltrain, the VTA and eventually BART will connect. It is adjacent to the Guadalupe Freeway (SR-87).