{"id":1004160233,"date":"2016-11-28T11:49:05","date_gmt":"2016-11-28T19:49:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004160233"},"modified":"2022-12-08T16:37:25","modified_gmt":"2022-12-09T00:37:25","slug":"california-medical-facility-sells-for-almost-30m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/","title":{"rendered":"California Medical Facility Sells for Almost $30M"},"content":{"rendered":"<p>by Evelina Croitoru<\/p>\n<div id=\"attachment_1004160247\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004160247\" data-attachment-id=\"1004160247\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/paramit-corp\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg\" data-orig-size=\"1526,873\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Evelina Croitoru&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1480342871&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Paramit Corp\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg?w=1024\" class=\"wp-image-1004160247 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg\" alt=\"18735 Madrone Parkway, Morgan Hill, Calif.\" width=\"300\" height=\"172\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg 1526w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg?resize=300,172 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg?resize=768,439 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg?resize=1024,586 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004160247\" class=\"wp-caption-text\">18735 Madrone Parkway, Morgan Hill, Calif.<\/p><\/div>\n<p><strong>Morgan Hill, Calif.\u2014<\/strong>San Mateo, Calif.-based privately owned diversified investment firm Nazareth Enterprises Inc. secured \u00a0the 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\u2019s headquarters and research\/development operations.<\/p>\n<p>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.<\/p>\n<p>&#8220;This asset was highly sought after because of its headquarters, mission critical use for the tenant. While we received interest from all types of investors in multiple regions\u00a0of the country, ultimately the Seller selected an experienced local, private company who understands the market and the criticality of the property for the tenant moving forward,&#8221; Zachary Harris, associate director with Stan Johnson Co.,\u00a0 said in prepared remarks.<\/p>\n<p>\u201cFinancing was provided by Bank Leumi due to their ability to be creative in structuring debt to meet their clients\u2019 needs and their ability to consistently deliver for us on multiple occasions in the past,\u201d Mounir Kardosh, president &amp; CEO of Nazareth Enterprises Inc., said in a prepared statement.<\/p>\n<p>The undisclosed buyer was represented by Abe Matar, owner of Landmark Real Estate Services. The seller, a private equity firm, was represented by Jeff Hughes, Zachary Harris and Jonathan Ameen with Stan Johnson Co. \u00a0According to Property Shark data, the property traded for a significantly lower purchase price than the previous sales registered in the asset\u2019s history, dropping in value with approximately $4.7 million since the last transaction in February 2014.<\/p>\n<p><em>Image courtesy of user:Vista Solar, via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nazareth Enterprises Inc. arranged the acquisition of a 152,553-square-foot flex building that serves as headquarters for Paramit Corp.<\/p>\n","protected":false},"author":1055,"featured_media":1004160247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21742,1609,15],"tags":[32885,32877],"class_list":["post-1004160233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-latest","category-san-francisco","category-west","tag-bank-leumi","tag-stan-johnson-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>California Medical Facility Sells for Almost $30M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"California Medical Facility Sells for Almost $30M\" \/>\n<meta property=\"og:description\" content=\"Nazareth Enterprises Inc. arranged the acquisition of a 152,553-square-foot flex building that serves as headquarters for Paramit Corp.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-11-28T19:49:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:37:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1526\" \/>\n\t<meta property=\"og:image:height\" content=\"873\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelina Croitoru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/\",\"name\":\"California Medical Facility Sells for Almost $30M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg\",\"datePublished\":\"2016-11-28T19:49:05+00:00\",\"dateModified\":\"2022-12-09T00:37:25+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e9e65abbef696b705a028580e04c8c99\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg\",\"width\":1526,\"height\":873},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"California Medical Facility Sells for Almost $30M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e9e65abbef696b705a028580e04c8c99\",\"name\":\"Evelina Croitoru\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/82abe2674124359ad94c66dc8af2ae6002e67a0fd43aa3247fcdde8cc201d064?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/82abe2674124359ad94c66dc8af2ae6002e67a0fd43aa3247fcdde8cc201d064?s=96&d=mm&r=g\",\"caption\":\"Evelina Croitoru\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/evelinacroitoru\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"California Medical Facility Sells for Almost $30M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/","og_locale":"en_US","og_type":"article","og_title":"California Medical Facility Sells for Almost $30M","og_description":"Nazareth Enterprises Inc. arranged the acquisition of a 152,553-square-foot flex building that serves as headquarters for Paramit Corp.","og_url":"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2016-11-28T19:49:05+00:00","article_modified_time":"2022-12-09T00:37:25+00:00","og_image":[{"width":1526,"height":873,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg","type":"image\/jpeg"}],"author":"Evelina Croitoru","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/","url":"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/","name":"California Medical Facility Sells for Almost $30M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg","datePublished":"2016-11-28T19:49:05+00:00","dateModified":"2022-12-09T00:37:25+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e9e65abbef696b705a028580e04c8c99"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg","width":1526,"height":873},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"California Medical Facility Sells for Almost $30M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e9e65abbef696b705a028580e04c8c99","name":"Evelina Croitoru","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/82abe2674124359ad94c66dc8af2ae6002e67a0fd43aa3247fcdde8cc201d064?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/82abe2674124359ad94c66dc8af2ae6002e67a0fd43aa3247fcdde8cc201d064?s=96&d=mm&r=g","caption":"Evelina Croitoru"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/evelinacroitoru\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Paramit-Corp.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004160233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1055"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004160233"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004160233\/revisions"}],"predecessor-version":[{"id":1004616302,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004160233\/revisions\/1004616302"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004160247"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004160233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004160233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004160233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}