Investment company Capri EGM has divested from the Sanofi Genzyme Global Distribution Facility, one of its life science and logistics assets, located in the Boston-Cambridge market. The sales price and buyer were undisclosed.
The Sanofi Genzyme building is located at 11 Forbes Road adjacent to Interstate 290. The immediate area is a location of choice for many of the world's top names in technology, pharmaceuticals, and life sciences. More than 100 life science companies are located within 10 miles of the property. Sanofi Genzyme is a fully owned subsidiary of global pharmaceutical conglomerate Sanofi.
"Life science, logistics, and R&D corporate real estate remain high conviction themes for us and we are actively investing in these areas throughout the US in innovation-oriented markets,” said Shelby Pruett, CEO at Capri EGM. “Our sale of the Genzyme assets was the result of our accomplishing the objectives of our business plan for this particular asset and we were happy to recycle the capital into new opportunities. We believe the pandemic has only increased the need for these types of assets and have highlighted their importance. As we look to current investments, the Boston-Cambridge market, as well as other innovation-oriented markets with leading research universities, will remain areas of focus for our investment activity as we believe these markets will continue to experience strong demand from corporations interested in participating in their local ecosystems."
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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