Development Watch: Related Beal to purchase 6.5 acres in Fort Point

Boy oh boy!  Even more changes coming to the Fort Point neighborhood.  Last week we reported that Developers Alexandria and National Development purchased the 2.7 acre General Electric headquarters for $252 million.  Well, developer Related Beal has just purchased 6.5 acres of waterfront property right next to the General Electric Co. headquarters.  Boston Business Journal is reporting that Procter & Gamble Co is selling the property for $218 million. It’s located at 244-284 A St. which is currently a large parking lot. 

Marketing material for the site displayed five buildings on the 1 million square foot property.  The buildings could range in height from 110 feet to 180 feet. 

This is not the first piece of property that P&G has sold. Last year, it sold a 30,000-square-foot building and a quarter-acre parking lot for a a total of  $11.5 million.

Lots of changes coming our way!   

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Maureen Dahill

Maureen Dahill is the editor of Caught in Southie and a lifelong resident of South Boston sometimes mistaken for a yuppie. Hockey mom, yoga enthusiast, lover of red wine and binge watching TV series. Mrs. Peter G. Follow her @MaureenCaught.