SAN JOSE, CA-Fund manager BPG Properties Ltd. has acquired ParkCenter Plaza, a nine-building, 600,000-sf office and retailproperty here for $169.5 million or $282 per sf. The mix of low-and mid-rise buildings is 74% leased. The seller was a JV of DivcoWest and Rreef.

Park Center Plaza is located between Market Street and AlmadenBoulevard in the center of the San Jose CBD. Adjacent to the siteare the Center for the Performing Arts, the Tech Museum, the805-room Fairmont Hotel and the world headquarters of Adobe. TheSan Jose Convention Center is located a block away, multiple masstransit options are within walking distance, freeways are verynearby and San Jose International Airport is three miles away.

Most of the office space is housed in the development's threelargest buildings: 150 Almaden, a 15-story class A office buildingwith 202,000 sf; 125 S. Market, a 13-story, 160,000 sf class Abuilding; and 100 Park Center, a five-story, 128,000-sf class Boffice building. Most of the retail is in the six other buildings,which range in height from one- to five stories and in size from7,000 sf to 33,000 sf.