Watertown’s Arsenal Yards Retail and Residential Portions Put Up for Sale

By the Editorial Team · Sunday, October 4, 2026

Watertown’s Arsenal Yards retail and residential components, including over 257,000 square feet of retail space and more than 300 luxury condos, have been listed for sale by current owner Boylston Properties. This sale is notable because Arsenal Yards remains a highly frequented and successful mixed-use development in the Boston metro area, attracting millions of visitors annually despite challenges faced by many shopping centers.

Watertown’s Arsenal Yards retail and residential components have been put on the market, according to a listing distributed by commercial real estate firm CBRE last week. The property, formerly the site of the Arsenal Mall and previously a U.S. Army arsenal, includes approximately 257,000 square feet of ground-floor retail space spread across seven buildings along with over 300 luxury condominium units. No asking price was disclosed.

Boylston Properties, the current owner and developer of Arsenal Yards, confirmed the sale listing but declined to provide additional details in a brief email response. Representatives from CBRE did not immediately respond to requests for comment. The Watertown News first reported the offering.

Arsenal Yards occupies a historically significant location, originally home to brick warehouses and factories dating back to 1816 that served as the U.S. Army’s Watertown arsenal for the storage and manufacture of military technology and weaponry. The Arsenal Mall opened on the site in 1983 and operated until its closure in 2018 to make way for redevelopment. The mixed-use complex reopened as Arsenal Yards in 2019, featuring retail, laboratory, and office spaces, with residential units added starting in 2021.

CBRE’s marketing materials describe Arsenal Yards as one of the Boston metropolitan area’s most vibrant retail destinations, attracting nearly 4.8 million shopper visits in the last 12 months. Average visit duration is reported to be over 50 minutes, indicating strong consumer engagement.

Greg Reibman, president and CEO of the Charles River Regional Chamber, characterized the potential sale as significant in scale, noting that Arsenal Yards stands out in an era when many malls and shopping centers face challenges in maintaining tenant occupancy and drawing customers. “It’s really big news,” he said. Reibman highlighted the development’s curated mix of retail, laboratory, office, and residential spaces as a key to its success.

The retail lineup at Arsenal Yards includes major tenants such as Marshalls, Ulta, Old Navy, Shake Shack, Warby Parker, J. Crew Factory, and a Roche Bros. supermarket. The complex also features a seven-screen movie theater. Nearby, Watertown’s traditional mall anchored by a Target store and a Home Depot location provide additional shopping options.

The marketing brochure emphasizes Arsenal Yards’ appeal as part of one of metro-Boston’s most desirable submarkets, drawing customers from affluent and densely populated suburbs including Watertown, Cambridge, Belmont, Waltham, and Newton. The local residential population within a five-mile radius exceeds 870,000, swelling to 1.1 million during daytime hours, according to the brochure.

While the retail and residential elements are on the market, the adjacent Hampton Inn & Suites hotel, as well as the science laboratories and office suites, are excluded from the sale.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.