SAN JOSE -- The Knight Ridder sign, an icon of the skyline in downtown San Jose, will be removed as part of a revamp of the office tower on which it is displayed.

CBRE Global Investors Strategic Partners bought the 18-story building, located at 50 W. San Fernando near South First Street, at the end of 2012 for an estimated $95 million.

"We will invest capital into the building to remodel it and upgrade it," said Darla Szalla, a principal executive with CBRE Global Investors. "The Knight Ridder name will go away. We are exploring our options."

Among the options: Use a tenant name, or display the tower's new moniker, 50 West, Szalla said.

The Knight Ridder name has remained atop the building even though the company, which owned the Mercury News, was bought in 2006 by McClatchy, which owns a number of newspapers, including the Sacramento Bee. The parent company of the Mercury News is now the MediaNews Group.

Contact George Avalos at 408-373-3556 or 925-977-8477. Follow him at twitter.com/george_avalos.