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Pfizer Sells 620 Memorial Drive To MIT For $30.5M

Jun 6, 2014 | Reprints | Unlock Link | Print

Pfizer has sold its 620 Memorial Drive property to Massachusetts Institute for Technology for $30.5 million.

The New York pharmaceutical company put the 91,500-square-foot property on the market in 2011 as it consolidates its real estate holdings in Cambridge in a cost-cutting maneuver. Pfizer is moving approximately 1,000 employees at five sites including 620 Memorial Drive to new facilities at 610 and 700 Main St. in Kendall Square.

An MIT spokesman did not immediately have details on MIT’s plans for the building. Pfizer bought the building in 2003 for $46.5 million.

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