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Natick Flex Building Has New Owner //Stoughton Church Buys 14+ Acres //JP Morgan Chase Bank in Rowley Going Forward //Hotel On Tap for University Station Lot //Fairfield Inn in Milford Trades Hands // Natick Flex Building Has New Owner //Stoughton Church Buys 14+ Acres //JP Morgan Chase Bank in Rowley Going Forward //Hotel On Tap for University Station Lot //Fairfield Inn in Milford Trades Hands // Natick Flex Building Has New Owner //Stoughton Church Buys 14+ Acres //JP Morgan Chase Bank in Rowley Going Forward //Hotel On Tap for University Station Lot //Fairfield Inn in Milford Trades Hands //

Sanofi Grows MetroWest Presence Via $8.1M Buy

January 06, 2012 — By By Mike Hoban

FRAMINGHAM — Genzyme Corp. strengthened its long-term commitment to the suburban MetroWest region by acquiring a 65,000-sf flex/office building here over the holidays, picking up 10 California Ave for $8.1 million. The trade was engineered by R.W. Holmes representing seller Columbia Electric Co. and Christopher Tosti of CBRE/New England advising Genzyme.

“Sanofi-aventis (which bought Genzyme last year) is making the decision to continue to grow in Framingham,” says R.W. Holmes Realty President Garry Holmes, who handled the exclusive listing for Columbia. “It’s great for the area and for Framingham to see (the company) continue to invest in the area and develop and expand here.”

Genzyme filed a master plan with state environmental officials in June 2010 that called for doubling its Framingham presence over the next decade to nearly two million square feet, but the takeover by France-based life sciences giant Sanofi last spring caused some to question whether the plans would be scaled back or might not proceed at all. The building is currently occupied by both Genzyme—which uses the facility’s 27,000 sf of office and lab space— and Staples. The office supply firm employs 10 California Ave.’s warehouse space to simulate new store design layouts.

Exactly how much term is left on the Staples lease is unclear, as were any strategies of the new ownership’s intentions for the building that dates to 1960. Holmes declined to weigh in on that matter. Given that Genzyme has a history of replacing aging stock with state-of-the-art lab and manufacturing space in the MetroWest, a demolition of the building would appear to be a viable possibility, speculated some industry watchers. New construction would also be in keeping with the biotech firm’s goal of maintaining a sustainable working environment that has delivered LEED-certified facilities to nearby sites.

Located off Route 9 at Exit 12 of the Massachusetts Turnpike, 10 California Ave. sits on approximately 4.7 acres. The site was originally zoned for manufacturing purposes, and features newly updated office space and an insulated metal & steel frame warehouse with 21-foot ceiling heights. .

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