Paramit Acquisition Leads to Immediate Expansion Needs

Posted by Megan Toeniskoetter
Mar 2, 2017 | Keywords: Leasing  Morgan Hill  


Things move fast in Silicon Valley, and with Paramit Corporation’s recent acquisition of Lathrop Engineering, it needed to quickly expand its Morgan Hill operations. Looking to Toeniskoetter Development, Inc. to find the right building, Paramit has leased a 25,000 square foot facility at Cochrane Business Ranch, one of Toeniskoetter’s master-planned business parks.

“Our business relationship with Paramit dates back 20 years to when they first leased space for their headquarters,” said Toeniskoetter President and CEO Brad Krouskup. “Bringing their design activities to Cochrane Business Ranch enables them to provide a full-range of services from one consolidated location in Morgan Hill.”

Paramit’s Morgan Hill headquarters are located in Madrone Business Park, another master-planned business park developed by Toeniskoetter.

“When considering our expansion, we knew we’d have a partner we could depend on in Toeniskoetter Development,” said Rick Kent, Paramit’s CFO.

The property will be customized for Paramit’s design needs, which requires not only a remodel of the exterior and outside common spaces but a complete renovation of the building’s interior. With an April move-in target, time is of the essence.

If the time frame was ambitious, so is the building design. Fortunately, Paramit’s long relationship with Toeniskoetter has come in handy. Because it had designed and built the original building, Toeniskoetter was able to bring in the original design engineer, who was able to solve the problem of re-orienting a load bearing wall supporting the HVAC system. “Even though there were tough issues to address, the Toeniskoetter team went above and beyond to make sure we met our timeline,” said Kent.

The architect for the project is Habitec Architecture, and Toeniskoetter Construction, Inc. is the general contractor.

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