Genzyme Spends $8.1 Million for California Avenue Property

Genzyme has not announced plans for the property's use; but owns two abutting parcels.

purchased 10 California Ave. from Columbia Electric Corp. for $8.1 million, reported CoStar Group, headquartered in Washington, D.C.

The one-story, 62,666-square-foot, building was built in 1968. The property is on a 4.7-acre parcel in the Framingham Industrial Park. The building has a 21-foot clear height, seven loading docks and one drive-in bay.

Genzyme owns two abutting parcels to the property and has not set plans for its intended use.

Framingham assessed the 10 California Ave. property at $3.534 million last year and $3.380 million this year.

Brenda Crawshaw January 20, 2012 at 03:08 PM
OK - so once again we have a commercial property that sold for WAY more than the assessed value - where does the "income potential" factor work in THIS equation? Something smells in Denmark, I mean Framingham.................
Jim Rizoli January 20, 2012 at 04:24 PM
You mean something is rotten in Denmark.....but We get the point. Now the question what to do about it? Jim@ccfiile.com


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