Sanofi’s North American headquarters was sold to California investment firm AVG Buyers for $260.65 million, CBRE announced Jan. 24.
CBRE procured the buyer and represented seller American Finance Trust in the deal.
The building at 55 Corporate Drive in Bridgewater totals approximately 675,000 square feet, and the transaction is the largest single tenant deal in the state since 2016, according to CBRE. Sanofi has a lease in place through Dec. 31, 2032.
“We pride ourselves on executing not only the largest and most complex transactions in the market, but more importantly, providing our clients with thoughtful advice on timing and execution,” said CBRE Vice Chairman Jeffrey Dunne. “This closing helps American Finance Trust realize the goal of rebalancing its portfolio as this was the largest single owned asset.”
CBRE Executive Vice President Neuer added, “The quality of the building, the amenities, and the workplace environment along with the creditworthiness of Sanofi attracted a deep buyer pool. Capital clearly understands that trophy buildings will continue to be in demand in our market.”