Genzyme sells Framingham offices for $20.5M
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Genzyme has sold a pair of office buildings at a site on Mountain Road in Framingham, a short walk from a larger, new facility on New York Avenue.
Drugmaker Genzyme has sold two Framingham office buildings for about $20.5 million.
The facilities at 1-5 Mountain Road was sold in a transaction closed May 22 to a limited liability company with New York and Washington, D.C., addresses for the Carlyle Group, an international investment firm.
Genzyme said it will remain at the offices in a sale-leaseback agreement. The six-acre site includes a pair of office buildings, one four stories and the other three, with a total of about 65,000 square feet of space.
Genzyme bought the offices in 1994 for $26.9 million, according to city property records.
The sale comes as a former Genzyme office, which the company vacated in 2012, is being proposed for a U-Haul self-storage facility. U-Haul is planning 600 units at the five-story building at 15 Pleasant Street Connector.
U-Haul bought the property last April for $4.4 million.
Sanofi, Cambridge-based Genzyme's French parent company, is building a major new office at Cambridge Crossing, a development a short distance from Kendall Square. Sanofi said in December it will keep its presence in Framingham while it consolidates other Massachusetts operations into the new 900,000-square-foot complex expected to open in 2021. It has offices at One Research Drive in Westborough that may be affected by the consolidation.
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