December 9, 2016
New York-based Thor Equities is acquiring a 100,325-square-foot medical office building in Cupertino, CA from Phoenix-based Vereit Inc. for $67 million, or $668 per square foot. The two-story building is leased by Kaiser Permanente until 2023, and would be Thor’s first asset in the Silicon Valley.
Vereit had acquired the MOB property in 2013 from MOF II Tantau Holdings Inc. for $62.5 million. The building houses Kaiser’s child and adolescent psychiatry, chemical dependency recovery and worksite wellness services.
The 6.6-acre site is located at 19000 Homestead Rd., and is across the street from the 176-acre Apple Campus 2. The 2.8-million-square-foot future Spaceship HQ of Apple is nearly complete, and expected to be ready for occupancy early next year.
For comments, questions or concerns, please contact Dennis Kaiser