Boston firms pay $33M for Northborough Genzyme site
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Genzyme's operations center at 11 Forbes Road in Northborough is part of the I-290 Industrial Park.
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.
Equity Global Management bought the site in 2016 for just under $21 million. It was last assessed by the Town of Northborough at just over $22 million.
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