PARAMIT MOVING HEADQUARTERS, MANUFACTURING TO MADRONE BUSINESS PARK IN MORGAN HILL

MORGAN HILL - Toeniskoetter & Breeding, Inc. (TBI) is completing work on a new, 152,000-square-foot headquarters for contract manufacturer Paramit Corp. in the Madrone Business Park in Morgan Hill. Paramit plans to move approximately 300 employees to the new building this month.

The building for Paramit is adjacent to two new buildings totaling 160,000 square feet that TBI built for Condor Systems and completed in October 2001. Both Paramit and Condor Systems have moved to Morgan Hill from San Jose. Paramit provides turnkey electronic manufacturing services and fully integrated testing. Paramit manufactures and tests products for leading OEM's in the telecommunications and networking, medical instrumentation, digital media, R.F. and semiconductor equipment industries.

Condor Systems designs and manufactures signal intelligence and electronic warfare systems for the United States and military allies.

Last summer, TBI completed three buildings in the Madrone Business Park totaling 350,000 square feet for the new headquarters of Media Arts Group Inc., which manufactures and markets the art works of Thomas Kinkade and others. A Courtyard by Marriott, a Marriott Residence Inn and a Chevron Service Station were completed this fall near the intersection of Highway 101 and Cochrane Road.
"Five sites totaling 24 acres remain uncommitted, and we are entertaining proposals for build-to-suits," said Brad Krouskup, president of TBI Development, developing partner for TBI-Mission West LLC, developer of the 110-acre Madrone Business Park. "We also have available two, new single-story office/R&D buildings, totaling 100,000 square feet."

Founded in 1983, Toeniskoetter & Breeding, Inc. Development has developed more than two million square feet of buildings and serves as managing general partner for a number of diversified real estate properties throughout Santa Clara and Santa Cruz counties. In addition to the Madrone Business Park, TBI Development has developed the adjacent Cochrane Business Ranch in Morgan Hill. Other projects include 450 West Santa Clara Street, the O'Connor Health Center and the western headquarters for Integrated Circuit Systems, all in San Jose; Gateway Square in Campbell and the Granite Creek Business Center in Scotts Valley.

In 1999, TBI Development strengthened its 15-year relationship with developer Carl Berg through the formation of TBI-Mission West LLC. This company was formed to pursue the development of the Madrone Business Park, where TBI acts as the development and managing general partner.

Created in 1998 and based in Cupertino, Mission West Properties is a is a real estate investment trust (REIT) engaged in the management, leasing, marketing, development and acquisition of commercial R&D properties, primarily in Silicon Valley. Mission West Properties includes substantially all of The Berg Group's operating properties, which total more than five million square feet of buildings. Mission West Properties is listed on the American and Pacific Coast exchanges under the symbol MSW.