Sanofi Inks Greater Boston's Biggest Office Deal Since 2011
Cambridge Crossing has landed its biggest tenant to date.
French drug manufacturer Sanofi leased 900K SF of office space at the DivcoWest-developed complex, the life science company announced Monday. Sanofi plans to employ 2,700 across two buildings at the complex. Sanofi, which is Massachusetts’ largest life science employer, could move in as early as the end of 2021.
The deal will consolidate Sanofi’s Greater Boston operations, which are spread across Cambridge and in several suburban locations, the Boston Globe reports. Consolidation also entails moving the 1,200 employees who work at the 50 Binney St. headquarters Sanofi opened only this year.
“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,” Sanofi Executive Vice President Bill Sibold told the Globe.
The Sanofi deal is the largest single office lease in Greater Boston since Vertex Pharmaceuticals leased 1.1M SF at Fan Pier in 2011.
Cambridge Crossing has already attracted Philips Healthcare, which is moving its North American headquarters from Andover to a building currently under construction. The complex, which straddles the Boston, Cambridge and Somerville borders, will also eventually include a relocated Lechmere MBTA Green Line station as part of the transit line’s extension project into Somerville.
“Cambridge Crossing has experienced significant momentum since breaking ground in October 2017 and is pleased to see this innovation-driven community move into its next phase of development with world-class tenants,” a DivcoWest spokesperson told Bisnow in a prepared statement. “This news is a step forward for Cambridge Crossing as we look to fulfill our collective goal to design and create a vibrant, state-of-the-art mixed-use community authentically integrated into the East Cambridge neighborhood and for the benefit of the surrounding area.”
