Bryce Druzin

Kaiser Permanente medical offices in Cupertino are changing ownership for the third time in six years. Thor Equities and Vereit Inc. have reached an agreement for Thor to buy a two-story, 100,325-square-foot medical office building at 19000 Homestead Road for $67 million, according to industry sources. That pencils out to $668 per square foot. The property is leased out by Kaiser Permanente through Feb. 2023 and is right across the street from the under-construction Apple Campus 2.

The future of a former U.C. Davis test farm in Santa Clara just came into sharper focus. The Core Companies submitted a planning application on Monday to redevelop the now empty, city-owned, six-acre lot at 90 N. Winchester Blvd., located a couple blocks north of the intersection with Stevens Creek Boulevard.

A new hotel brand has taken over the former site of Beverly Heritage Hotel in Milpitas. The 236-room hotel is now Sonesta Silicon Valley. Sonesta International Hotels Corp. has more than 60 hotels in seven countries, including 37 in the United States, but the Milpitas location at 1820 Barber Lane is their first hotel on the West Coast. "We've had aspirations on California for a long time," said Carlos Flores, Sonesta president and CEO.