Sanofi is concentrating its forces in Cambridge hub, inking a massive lease for 2,700 staffers
The siren call of the ever-growing Cambridge, MA biosystem has never been louder.
Sanofi has now inked a massive, 2-building, 900,000 square foot lease at the Cambridge Crossing development to house 2,700 employees who will be brought in from various offices around the region. And the workforce will cover the gamut from research and development to medical, commercial and “global function” employees.
The new offices raise the profile of an already prominent Sanofi Genzyme group. And like every other Big Pharma that has executed a move like this, the Paris-based Sanofi spotlighted the location as a great place to work more closely with other biopharma collaborators which have sprung up in Cambridge.
They’ll have to wait, though. The 45-acre mega-project along the Cambridge-Somerville line is still under construction and the Sanofi staffers won’t be able to move until 2021.
When it’s finished, the sprawling complex will offer 2.1 million square feet of office and lab space that’s already attracted Philips NV, which is moving in their North American headquarters from Andover.
The influx of companies and jobs into Cambridge has significantly raised rents for biotech tenants, pushing some out into surrounding towns where lease space is less pricey.
Bill Sibold, the EVP for Sanofi Genzyme, noted in a prepared statement that this new location and consolidation will anchor the company to the local biopharma community for years to come. He added: “Cambridge Crossing is a critical investment in our infrastructure and our people, and the move will allow us to reimagine the way we work together to develop transformative treatments for patients.”
Image: The Cambridge Crossing development, a 45-acre project in East Cambridge formerly called NorthPoint. bldup