Nazareth Enterprises Pays $29.8M for Medical Device Manufacturing Building in Morgan Hill
San Mateo-based Nazareth Enterprises acquired a 152k SF flex building in Morgan Hill for $29.8M. The building on a 10.4-acre site at 18735 Madrone Pkwy is 100% occupied by Paramit Corp as its headquarters and R&D operations. The property was developed in 2002 as a build-to-suit for Paramit and significant renovations were done in 2014. The building features concrete construction, solar power, four dock doors and parking.
The buyer was repped by Landmark Real Estate Services owner Abe Matar; the seller, a private equity firm, was repped by Stan Johnson Co managing director Jeff Hughes, senior director Sam Alison, associate director Zach Harris and associate Jonathan Ameenn. Bank Leumi provided financing.
Published in Biznow