P&G’s land sale near GE HQ could net more than $200M

The 6.5-acre block of property recently put on the market by Procter & Gamble Co. could sell for at least $216 million, if not more.

That’s based on P&G’s (NYSE: PG) sale of 2.5 acres to General Electric Co. (NYSE: GE) and MassDevelopment, a quasi-public state agency. That deal closed in late 2016 for $83 million, or $33.2 million per acre. A comparable sale of 6.5 adjacent acres would be $216 million, a price confirmed by a real estate industry source.

A P&G representative declined to discuss…

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