A Look at the Specifics of GE’s new Boston Office Market Headquarters
GE Co.’s (NYSE: GE) brand new headquarters in the downtown Boston office market will stretch an astonishing 410,000 square feet. All in all, the new working space will measure just under one acre. These measurements were obtained from documentation file with the Boston Redevelopment Authority.
GE’s Fort Point campus in the Boston office market will feature a lovely new 12-story office with 293,000 square feet of space. A pedestrian passageway will connect the office to Necco Street. The information was detailed in a letter written by GE’s Vice President of Global Operations, Ann Klee. She penned the letter to BRA back on June 23 in an attempt to provide specifics regarding the company’s upcoming three-building headquarters.
Klee’s comments built upon those previously made by company CEO Jeff Immelt. He was the first to announce GE’s campus’ incredible size. Immelt commented that it would cover 300,000 square feet in space, including historic warehouses located at 6 Necco Court and 5 Necco St. These unique buildings are actually former candy factories of the New England Confectionary Co. When combined, these candy factories span a total of 110,000 square feet. The company’s new Boston office market headquarters is a representation of the site’s historic industrial past and GE’s focus on a digitally-dominated future. In due time, the two Necco buildings will be owned by MassDevelopment, a state economic development agency. These buildings will be leased back to GE so that the company can take advantage of nearly $150 million worth of city and state tax credits. GE was provided with the incentives for its willingness to set up its corporate buildings within the Boston office market.
GE’s new headquarters sits on a 2.5 acre space that will be purchased from Procter & Gamble Co. (NYSE: PG). The sale also includes over 40,000 square feet worth of open space along with an additional 15,000 square feet worth of covered space. GE representatives have commented that they will be connecting the current brick warehouses with a shared communal space inside of an atrium along with a winter garden. Known as “GE Plaza”, this space will be partially sheltered by a transparent canopy. The Plaza could be used for a number of different purposes ranging from a coffee bar to a maker space, a co-work lounge, bistro-cafe or cafeteria.
If you would like more information regarding office buildings available in the greater Boston market, contact Jeremy Cyrier at [email protected] or by phone at 617-340-8520.