Image courtesy of Procter & Gamble

With average asking rents for lab space nearing triple digits, life science developers have won bidding wars for recent sites hitting the market in Boston’s Seaport District.

Gillette’s 232 A St. parcel proved to be no exception, with Breakthrough Properties paying $80 million to acquire 2.5 acres of parking lots from Procter & Gamble Co.

JLL represented Procter & Gamble on the transaction. In marketing materials, JLL said the site is zoned for a minimum 500,000 square feet of commercial development.

In a statement, CEO Rob Speyer said the development plans will include waterfront accessibility and climate resiliency.

The property sits next to the 244-284 A St. former Gillette Co. parcel where Related Beal is seeking approval for a three-building, 1.1 million-square-foot development including a 419,000-square-foot life science building.

Procter & Gamble division Gillette Co. announced in 2019 that it is assessing its Massachusetts real estate footprint and existing facilities both in South Boston and Andover. That process is still under way and has been slower than anticipated because of the pandemic, Gillette spokeswoman Kara Buckley said.

Breakthrough Properties, a partnership of Tishman Speyer and Bellco Capital, already is pursuing two major projects in Boston. Construction began in July 2020 on The 105 office-lab project at 105 West First St. following a 263,500-square-foot lease by CRISPR Therapeutics, and Breakthrough is partnering with Harvard Allston Land Co. on its planned Enterprise Research Campus on Western Avenue in Allston.

The firm also picked up a major holding in the growing East Cambridge lab market, buying 1 Canal Park in June for $133 million.

Asking triple-net rents for lab space in the Seaport District hit $95 per square foot in the second quarter, according to Newmark’s second-quarter life science report.