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Former Genzyme office in Framingham sells for $3M

A 25,000-square-foot office building in Framingham that formerly housed the drugmaker Genzyme has sold for $3.2 million.
The buyer is a limited liability corporation, called 11 Pleasant Street Connector, LLC, which is registered in Palm Springs, Fla. The registered manager of that entity is Kirill Vesselov, who is CEO of Haven Health Management, which is also based in Palm Springs, Fla.
It was sold by Fafard Commercial Real Estate of Milford. The sale closed March 15. The 1.6-acre site at 9-11 Pleasant Street Connector was last assessed by the City of Framingham at roughly $3.3 million.
The office building at 9 and 11 Pleasant Street Connector is one of a few MetroWest office buildings that Genzyme has left in the past few years, along with 1 Research Drive in Westborough. An adjacent building at 15 Pleasant Street Connector that Genzyme left in 2012 was bought by U-Haul for $4.4 million in 2018 for a storage facility. ....

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Central Mass. by the Numbers

Central Mass. by the Numbers
telegram.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from telegram.com Daily Mail and Mail on Sunday newspapers.

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Boston firms pay $33M for Northborough Genzyme site

The site of a Northborough operations center for the biotech firm Genzyme has been bought by two Boston firms for $33 million.
Boston s Camber Development and real estate investment firm Wheelock Street Capital, which has offices in Boston and Greenwich, Conn., bought the site in a deal closed Feb. 17. The seller was the Chicago real estate investment firm Capri EGM. The deal was announced by the Boston offices of JLL Capital Markets, which represented the buyers.
Camber and Wheelock Street Capital didn t return messages seeking comment.
The 19-acre site at 11 Forbes Road includes a building spanning more than 200,000 square feet. Genzyme, part of the French company Sanofi, has a long-term lease for the building, which includes shipping and receiving, specialized storage, offices and a laboratory, according to JLL. The company, whose headquarters are in Cambridge, uses the site for testing, packaging and distribution. ....

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Northboro life sciences building sold for $33M

Northboro life sciences building sold for $33M
NORTHBORO Sanofi Genzyme’s Northboro Global Operations Center, a 212,000-square-foot life sciences building located at 11 Forbes Road, sold for $33 million last month.
The property was purchased from CEGM Northborough, a subsidiary of Chicago-based Capri EGM, to a joint venture between Connecticut real estate investment firm Wheelock Street Capital and Boston real estate investor Camber Development.
The Northboro Assessors Office values the 19.3-acre property to be worth $22,430,400.
Sanofi Genzyme, a biotechnology company based in Cambridge, has a long-term lease at the property and uses the two buildings as a packaging, testing and distribution facility. ....

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Jones Lang LaSalle Inc. (via Public) / Boston-area life science and industrial facility trades to JV for $33M

Boston-area life science and industrial facility trades to JV for $33M
BOSTON, March 2, 2021 - JLL Capital Markets announced today that it has closed the $33 million sale of Sanofi Genzyme s Northborough Global Operations Center, a fully net-leased, 212,000-square-foot GMP-certified industrial facility in the suburban Boston community of Northborough, Massachusetts.
JLL represented the buyer, joint venture partnership between Wheelock Street Capital and Camber Development, which acquired the asset from Chicago-based Capri Egm. Additionally, JLL has been engaged by the new owner to source post-acquisition financing.
Sanofi Genzyme s Northborough Global Operations Center is occupied by Sanofi Genzyme, a biotechnology company based in Cambridge, Massachusetts, under a long-term net lease, and the company uses the property as a packaging, testing and distribution facility. The building was completed in 1987 and features a cGMP-warehouse space - which refers to the Current ....

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