Life science real estate developer Breakthrough Properties has finalized the sale of its 232 A Street development site in South Boston to P&G Gillette, following Gillette’s previously announced plans to establish its new Grooming Headquarters and Technical Innovation Center at the site. Gillette plans to invest nearly $1 billion in the new facility.
Breakthrough, a joint venture of Tishman Speyer and Bellco Capital, originally acquired the 2.4-acre site in 2021 for $80 million and subsequently secured approval for a 325,000-square-foot research and development campus with 1.5 acres of enhanced public realm, including a vibrant waterfront park on the Fort Point Channel.
Founded in Boston approximately 125 years ago, Gillette paid approximately $99,285,703 for the site. The sale was facilitated by Jonathan Varholak of CBRE.
“The sale of the fully approved 232 A Street development site to P&G Gillette underscores the enduring demand for best-in-class infill locations in the world’s leading innovation markets,” said Breakthrough Properties EVP and CIO Daniel D’Orazi. “We are proud of the thoughtful execution—from acquisition through design and entitlement—that positioned this prime waterfront site for its exciting next phase with P&G Gillette.”
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