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Undisclosed Buyer Snags Bay Area Medical Device Facility for $29.8 Million



11/29/2016 7:23:50 AM

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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.

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