Image courtesy of P&G GIllette
Gillette’s headquarters will relocate to a new office and R&D building next to its longtime South Boston campus developed by Breakthrough Properties.
In 2024, the joint venture of Tishman Speyer and Bellco Capital received approval for the new 324,315-square-foot development at 232 A St. The property bordering Fort Point Channel is a former Gillette employee parking lot.
Breakthrough Properties, a joint venture between Tishman Speyer and Bellco Capital, bought the surface parking parcels from Gillette Co. parent Procter & Gamble in 2021 for $80 million.
The development plan for the property includes 1.5 acres of public open space that will provide a “signature amenity” for tenants, developers said when seeking approval from the Boston Planning & Development Agency. Developers also agreed to install flood protection systems to protect the property from rising sea levels.
In an announcement today, P&G Gillette estimated acquisition and buildout costs at $1 billion.
“After a comprehensive search, we are pleased to have found a location that continues our longstanding history in this community, provides the right structure for our Technical Innovation Center, and supports neighborhood development,” CEO Gary Coombe said in a statement.
A CBRE brokerage team led by Vice Chairman Jonathan Varholak represented Gillette in the process.
“This new development will keep hundreds of high-tech research and development jobs in the city, and serves as a testament to the strength of our economy as a global hub for innovation and technology,” Boston Mayor Michelle Wu said in a statement.
The company previously announced it would move its razor manufacturing operations to an existing facility in Andover, freeing up its existing South Boston campus for redevelopment.
Expansion of the Andover campus began last spring.
The 31-acre South Boston campus is proposed for a mixed-use redevelopment including 20 buildings and approximately 5.7 million square feet of development.
Community benefits in the development approval included 17,300 square feet of public accommodations within the building. The public facilities would include an 8,000 square-foot component for civic and cultural uses, an $800,000 initial developer contribution for tenant buildout and heavily subsidized base rent.
Developers also agreed to contribute $250,000 for a public art installation and expenses related to electrification of the plaza to enable arts and cultural events.
Image courtesy of P&G GIllette
