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Home Depot Acquires Watertown Store on Site Approved for Lab Development

Home Depot Inc. has paid $72 million to acquire a large portion of a Watertown, MA property that holds one of its stores, although Boylston Properties continues to have preliminary approval to put a lab building on part of the site. The Boston Business Journal reported that the site at 615 Arsenal St. is part of the Arsenal Yards mixed-use development. Boylston and a JPMorgan Chase unit had purchased the site in 2022 for $96 million.

The developer has planned a six-story, 175,200-square-foot lab building, named 300 Forge, for a corner of the property across the parking lot from Home Depot, reported the Business Journal. Boylston has found success in making Arsenal Yards a lower-cost alternative for biotech firms looking for a home outside Kendall Square and the Seaport District.

Like other developers, though, it has seen substantially less demand in the past couple of years.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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