Boston-area life science and industrial facility trades to JV for $33m

A joint venture partnership between Wheelock Street Capital and Camber Development has acquired 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, Mass.

The buyer was Chicago-based Capri Egm and the sales price was $33 million.

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 Good Manufacturing Practice regulations enforced by the FDA – for shipping and receiving, quality control and cold and high-bay racking storage, along with offices and a laboratory.

The Sanofi Genzyme facility is situated on a 19.33-acre site at 11 F