Undisclosed Buyer Snags Bay Area Medical Device Facility for $29.8 Million
Morgan Hill, Calif.—San Mateo, Calif.-based privately owned diversified investment firm Nazareth Enterprises Inc. secured the purchase of a 152,553-square-foot medical device manufacturing facility in Morgan Hill, Calif., for the price tag of $29.8 million. At the time of the deal, the facility was 100 percent leased by Paramit Corp. and serves as the company’s headquarters and research/development operations.
Located at 18735 Madrone Parkway, in the San Jose-Sunnyvale-Santa Clara MSA in Santa Clara County, the property is situated on 10.44 acres and was developed in 2002 as a build-to-suit building for Paramit Corp. The asset features concrete construction, solar power, four dock doors and ample parking with extensive renovations completed in 2014.
Located at 18735 Madrone Parkway, in the San Jose-Sunnyvale-Santa Clara MSA in Santa Clara County, the property is situated on 10.44 acres and was developed in 2002 as a build-to-suit building for Paramit Corp. The asset features concrete construction, solar power, four dock doors and ample parking with extensive renovations completed in 2014.