Procter & Gamble’s Gillette has acquired the 232 A Street development in South Boston for $99.29 million, taking over the entire site previously owned by Breakthrough Properties, which had originally purchased it for $80 million in 2021. This new campus project, which aligns with Gillette’s long-standing presence in Boston for almost 125 years, plans to support significant operational transformations and includes a commitment of nearly $1 billion investment. The life science real estate sector is showing signs of recovery, particularly in Boston and other key markets, with nearly 8 million square feet absorbed in the first quarter, driven by increased biotech funding and M&A activity.
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Link to original article source: https://finance.yahoo.com/real-estate/articles/gillette-buys-south-boston-life-145625067.html
