Johnson & Johnson Vision Facility In Milpitas Changes Hands For $50M
Nazareth Enterprises just bought the Johnson & Johnson Vision facility in Milpitas for about $50M. The 180K SF flex building at 510 Cottonwood Drive is 100% occupied by Johnson & Johnson Vision. Landmark Real Estate Services owner Abe Matar repped Nazareth. Financing was arranged by BluePoint Commercial Mortgage and provided by Deutsche Bank.
The property was developed in 1981 with significant renovations in 2008. The property features concrete construction, solar power, four dock doors and parking.
Nazareth has been on a buying streak within the past 12 months, purchasing two properties at Madrone Business Park and the Paramit Building in Morgan Hill. All three of Nazareth's recent transactions total about $95M.