By Bryce Meyers  August 23, 2013

San Francisco-based Rockwood Capital, along with Four Corners Properties, acquired the office property at 303 Almaden Blvd. in downtown San Jose, CA from Boston Properties for $40 million, or about $252 per square foot.The 158,499-square-foot, Class A property stands 11 stories tall and houses Ernst & Young, which currently occupies approximately 90,000 square feet in the facility.

Located across the street from the San Jose Convention Center and the Hilton Hotel, the property is within walking distance to the Caltrain and the VTA light rail.

Voit Real Estate Services, a full-service commercial real estate provider, has been brought on to manage the property.

Boston Properties will reportedly maintain a 3.6-acre development parcel next to the property. The land is entitled for 850,000 square feet of office, although it’s possible that Boston Properties will seek to re-entitle the land for residential.