May 17, 2019 Comments Off on Related Beal Bags Boston’s Fort Point Site for $218M Views: 252 Boston, Massachusetts, National News, Northeast

Related Beal Bags Boston’s Fort Point Site for $218M

Boston-based Related Beal acquired a 6.5-acre parcel along Boston’s Fort Point Channel from Procter & Gamble for a reported $218 million. Current zoning guidelines would allow development of more than one million square feet on a site that was part of Gillette’s long-held World Shaving Headquarters campus.

The property is also near where Alexandria Real Estate Equities and National Development just bought a pair of GE buildings, as well as a site envisioned for a 12-story office tower for $252 million.

Related Beal’s Kimberly Sherman Stamler said, “We are excited to start conversations with the community about the future of this parcel and a plan that enhances Boston. We believe this site offers a tremendous opportunity to create a diverse, mixed-use development close to public transit hubs, add to the environmental resiliency of Fort Point, and expand public waterfront access.”

Related Beal, the Boston arm of New York developer Related Cos., has not indicated plans for the site.

Read more at Boston Globe

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