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GE Sells Innovation Point to Alexandria Real Estate Equities

October 25th, 2019

Originally in 2015, GE envisioned creating an 800-person addition to their property at “Innovation Point,” which would be a work space for tech start-ups and students. In the beginning of 2019, GE decided to scrap their original plans of adding this 12-story facility. In May 2019, GE made a headlining decision to have Alexandria Real Estate Equities acquire the property named “Innovation Point” for $252,000,100. Now, the company plans to have its headquarters at the 5 and 6 Necco Street locations, where it will hold 250 employees.

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GE Headquarters Pushing Forward

GE still plans to restore the two brick Boston Wharf Company warehouse buildings but instead of owning the 2.5 acre, 390,000 square foot facility; they have signed a 12-year lease for the Alexandria Real Estate Equities owned-buildings. Gensler is doing the architectural work on the building while Eversource is focused on making the building energy-efficient. The restored Necco bridge will have new metal beams within it and a glass shield facing towards Fort Point.

While the original plans for Innovation Point has changed; GE has stayed true to their goal of placing their stamp on the rapidly-expanding Boston Seaport District.

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The Seaport has quickly become a neighborhood filled with luxury residential housing and corporate infrastructure. For questions or more information on The Seaport or this project, contact Jordan Bray at 617-262-2600 or Jordan.Bray@C21.com