The thriving retail and residential hub Arsenal Yards, former home to the old Arsenal Mall, and long before that the US Army Arsenal in Watertown, is for sale, according to a marketing brochure.
This week CBRE listed the property — 257,000 square feet of ground floor retail space, across seven buildings, and more than 300 luxury condominiums. No asking price was listed.
The attached hotel, a Hampton Inn and Suites, science laboratories, and office suites are not for sale.
A spokesperson for Boylston Properties, the owner and developer, confirmed that the property is for sale but declined to comment further in an email to the Globe Friday.
The brokers at CBRE did not immediately respond to a request for comment.
The Watertown News was the first to report the offering.
Brick warehouses and factories dating back to 1816 were once part of the U.S. Army’s Watertown Arsenal where the military stored and manufactured cutting-edge military technology and weaponry.
In 1983, the Old Arsenal Mall opened at the location, lasting until 2018 when it closed for redevelopment. Arsenal Yards opened in 2019 with retail, lab, and office space. Residential units followed in 2021.
“Arsenal Yards has rapidly established itself as one of metro-Boston’s most vibrant retail destinations, generating incredible traffic with 4,800,000 shopper visits in the past 12 months,” CBRE’s marketing brochure said.
On average, shoppers spend more than 50 minutes each time they visit the complex, the brochure said.
“It’s really big news,” Greg Reibman, president and chief executive officer of the Charles River Regional Chamber, said Friday afternoon. “This is an enormous real estate deal.”
At a time when so many malls and shopping complexes are struggling to find and maintain tenants, and “remain relevant,” Arsenal Yards has been “a huge success story,” Reibman said.
The mixed-use site is occupied by retail powerhouses — Marshall’s, ULTA, Old Navy, Shake Shake, Warby Parker, J. Crew Factory, and a Roche Brothers Supermarket — and includes a seven-screen movie theater.
The Watertown Mall, anchored by a Target store, is across the street, as is a Home Depot.
“They curated a great mix of businesses, lab space, offices and residential units,” Reibman said.
The marketing brochure touts Arsenal Yards as “one of metro-Boston’s most desirable submarkets,” drawing shoppers from Boston’s “most affluent and densely populated suburbs” of Watertown, Cambridge, Belmont, Waltham and Newton.
The local population is more than 870,000, and the daytime population is even greater, swelling to 1.1 million people, within five miles, the brochure said.
Tonya Alanez can be reached at tonya.alanez@globe.com. Follow her @talanez.