August 14, 2020
Procter & Gamble, parent company of Gillette, said this week it plans to sell a 2.5-acre parking lot on Binford Street alongside Gillette’s World Shaving Headquarters complex in Fort Point, the Boston Globe reported.
P&G has been selling former Gillette-owned land near the South Boston facility, and reportedly is also “re-assessing” its ownership of the Fort Point complex. However, the reassessment has been slowed by the pandemic, and the decision to sell the Binford Street parcel is separate from it, the Globe reported.
In 2019, Procter & Gamble sold 6.5 acres next door for $218 million to Related Beal. The developer plans a three-building complex on the property.
Another former Gillette-owned site nearby was sold last year for $252 million, after winning city permits for a 12-story office building. The Globe reported that the Fort Point land is now valuable real estate as developers seek alternatives to Cambridge’s Kendall Square.
Photo credit: Dave Walsh.
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