GE has chosen 5 and 6 Necco Way as the site for its new headquarters in Boston and has reached an agreement to be purchased from P&G. The acquisition of the 2.5 acre site includes two historic buildings, which will be renovated, and an adjoining parking lot, on which GE will construct a new building. Employees will move to a temporary location in Boston on Farnsworth Street starting in the summer of 2016, with a full move into the new facility expected by 2018.
GE announced the move of its headquarters for 800 employees (200 corporate staff and 600 digital industrial product managers) to Boston this past January. GE plans to sell its offices in Fairfield, CT and at 30 Rockefeller Plaza in New York City to offset the cost of the move.
“South Boston is a major hub for innovation and development and GE is excited to be a part of such a dynamic and creative ecosystem that is leading the future,” said GE Vice President Ann Klee. “This centrally-located property presents an excellent opportunity to enhance the Seaport District and the surrounding community. We look forward to bringing our headquarters to South Boston.”
