General Electric has made an agreement with Proctor & Gamble to purchase 2.5 acres of the latter’s 44-acre South Boston property in the Seaport District to serve as GE’s new headquarters.
GE said Thursday the future headquarters at 5 and 6 Necco Way will feature a mix of existing and newly-constructed buildings that will house approximately 800 employees after the full move in 2018.
“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.”
GE said it will sell its Fairfield, Connecticut and 30 Rockefeller Plaza, New York City offices to compensate for the cost of the move that was first announced in January 2016.