Sanofi Genzyme has reared its head again in the booming commercial real estate market in and around Cambridge, MA.
The Boston Globe reports that the French giant’s US arm is in the market for 400,000 square feet of space to house some 2,000 staffers. And the local daily’s news sources are putting their money on Cambridge Crossing, the sprawling campus project now being built on a former rail yard.
Tapping a network of brokers and real estate sources in the area, the Globe reports that the scuttlebutt indicates that Sanofi Genzyme wants to gather its 5,000 workers in the state into a cohesive set of central locations. And this comes just after Sanofi Genzyme moved into a new HQ building at 50 Binney Street on Kendall Square.
Cambridge, MA has been home to a growing roster of biotech companies and Big Pharma operations either being spun out of the local labs at Harvard or MIT or looking to be close to what amounts to ground zero in new drug science. The biotech ferment has made Cambridge into an increasingly expensive place to call home, but aside from seeing more moves in outward directions, companies have found the money to expand.
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