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P&G Plans to Market Parcel Near Gillette Campus in Fort Point

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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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).

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