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Another piece of Gillette’s World Shaving Headquarters complex in Fort Point is hitting the market.

Gillette’s parent, Procter & Gamble, said Tuesday that it plans to sell a 2.5-acre slice of parking lot alongside its longtime home in South Boston, with likely buyers being the sort of developers who are remaking the eastern edge of Fort Point Channel into an extension of downtown.

For now, Procter & Gamble is simply hiring a broker to market the site. But a spokeswoman said it aims to list the land — along Binford Street between A Street and the channel — for sale in the coming months. That would most likely mean a deal next year, with development plans to follow.


It’s valuable real estate in a part of the city that’s becoming increasingly popular with life-sciences companies looking for alternatives to Kendall Square in Cambridge.

In 2019, Procter & Gamble sold 6.5 acres next door for $218 million to the development company firm Related Beal. It plans a three-building complex on the property, with roughly a million square feet of housing and lab space. Another former Gillette-owned site up Necco Street — once the site of GE’s ill-fated world headquarters project — was sold last year for $252 million, after winning city permits for a 12-story office building.

The Binford Street site is the last Procter & Gamble parcel in the city’s so-called 100 Acres Plan, a 2006 document that calls for a roughly equal mix of housing, office space, and other uses in the area along the eastern edge of Fort Point Channel. A spokeswoman said P&G supports the broad aims of that plan and decided to sell the property to capitalize on the wave of development rolling through the neighborhood.

“It made sense to act now given the development happening in the area at this time,” wrote P&G spokeswoman Kara Buckley in an e-mail. “It is a chance to bring the full vision for this portion of the neighborhood to life.”


What might get built there, however, remains to be seen, and it could be constrained by the Massachusetts Turnpike, which runs in a tunnel directly beneath the site. The area has also been seen as a focal point for defensive measures against rising sea levels, with neighboring developers such as Related Beal and GE being urged to build resilient sites raised well above Fort Point Channel’s waters.

After long holding its South Boston real estate close, Procter & Gamble has in recent years begun offering more of it for sale ― not just the parking lots along Fort Point, but also odd lots closer to Broadway Station on the MBTA’s Red Line, which have then been developed.

In late 2019, the company said it was “re-assessing” its Fort Point campus, where it runs sophisticated machinery to make razor blades. That reassessment has been slowed by the pandemic, Buckley said, and the decision to sell this parcel is separate from it.

Tim Logan can be reached at timothy.logan@globe.com. Follow him on Twitter at @bytimlogan.