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Real Estate Rumors: DivcoWest, Wells Fargo, Cornerstone

By Andrew McIntyre (December 18, 2015, 11:26 AM EST) -- DivcoWest Properties is under contract to buy a downtown San Jose office tower from CBRE Global Investors, and is likely paying roughly $480 a square foot — or $161 million — for the property, the Silicon Valley Business Journal reported on Friday, citing sources with knowledge of the matter. The deal is for 50 W. San Fernando St., which CBRE bought three years ago for $93 million, according to the report. If the property trades for $480 a square foot, the sale would set a record for most ever paid per square foot for a downtown San Jose office property, the journal said....

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