Thor Enters SV Market with $67M MOB Buy

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.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Thor Enters SV Market with $67M MOB Buy

Inside The Story

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Sub Markets

National

Property Sectors

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National CRE News In Your Inbox.

Thor Enters SV Market with $67M MOB Buy

Inside The Story

About Dennis Kaiser