{"id":1004184861,"date":"2017-07-24T05:30:59","date_gmt":"2017-07-24T13:30:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004184861"},"modified":"2022-12-08T02:26:32","modified_gmt":"2022-12-08T10:26:32","slug":"nazareth-snags-16m-silicon-valley-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nazareth-snags-16m-silicon-valley-industrial-asset\/","title":{"rendered":"Nazareth Snags $16M Silicon Valley Industrial Asset"},"content":{"rendered":"<p>By Ariela Moraru<\/p>\n<div id=\"attachment_1004184871\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Madrone-Business-Park-Morgan-Hill-Calif..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004184871\" data-attachment-id=\"1004184871\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nazareth-snags-16m-silicon-valley-industrial-asset\/madrone-business-park-morgan-hill-calif\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Madrone-Business-Park-Morgan-Hill-Calif.-e1500901025245.jpg\" data-orig-size=\"1080,753\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Ariela Moraru&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1500911752&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=\"Madrone Business Park, Morgan Hill, Calif.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Madrone Business Park, Morgan Hill, Calif.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Madrone-Business-Park-Morgan-Hill-Calif.-e1500901025245.jpg?w=1024\" class=\"wp-image-1004184871 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Madrone-Business-Park-Morgan-Hill-Calif.-e1500901025245.jpg\" alt=\"Madrone Business Park, Morgan Hill, Calif.\" width=\"300\" height=\"209\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Madrone-Business-Park-Morgan-Hill-Calif.-e1500901025245.jpg 1080w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Madrone-Business-Park-Morgan-Hill-Calif.-e1500901025245.jpg?resize=300,209 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Madrone-Business-Park-Morgan-Hill-Calif.-e1500901025245.jpg?resize=768,535 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/Madrone-Business-Park-Morgan-Hill-Calif.-e1500901025245.jpg?resize=1024,714 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004184871\" class=\"wp-caption-text\">Madrone Business Park, Morgan Hill, Calif.<\/p><\/div>\n<p>Nazareth Enterprises Inc. has acquired two properties in the Madrone Business Park in Morgan Hill, Calif., for $15.6 million. Together with its property at 18735 Madrone Parkway, a <a href=\"https:\/\/www.commercialsearch.com\/news\/california-medical-facility-sells-for-almost-30m\/\">medical device manufacturing facility<\/a> acquired in November 2016, Nazareth now leases 332,500 square feet on the 20-acre parcel.\u00a0<\/p>\n<p>The two flex buildings of 60,000 and 120,000 square feet are located at 18705 and 18715 Madrone Parkway on 10 acres. The Class B properties built in 2001 have easy access to Highway 101 and are\u00a024 miles southeast of Norman Y. Mineta San Jose International Airport.<\/p>\n<h2>Stance\u00a0in the market<\/h2>\n<p>The Morgan Hill\/Gilroy industrial submarket has a vacancy rate of 0.6 percent and a total inventory of 7.3 million square feet, according to a Cushman &amp; Wakefield report.<\/p>\n<p><em>\u201cWith their acquisition of the Paramit Building [18735 Madrone Parkway] late last year, Nazareth is now one of the single largest landlords in Morgan Hill,\u201d<\/em> said Abe Matar of Landmark Real Estate Services, who represented Nazareth Enterprises, in prepared remarks.<\/p>\n<p>Stan Johnson Co. worked on behalf of the seller, a private equity firm. Sterling Bank &amp; Trust provided acquisition financing.<\/p>\n<p><em>Image courtesy of Nazareth Enterprises Inc.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two flex buildings total 180,000 square feet, making the company one of the single-largest landlords in Morgan Hill, Calif.<\/p>\n","protected":false},"author":960,"featured_media":1004508788,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,36079,15],"tags":[36921,36920,32877,36922],"class_list":["post-1004184861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-san-jose","category-west","tag-landmark-real-estate-services","tag-nazareth-enterprises","tag-stan-johnson-company","tag-sterling-bank-trust"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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