A partnership between Alexandria Real Estate Equities and National Development has acquired General Electric Co.’s 2.7-acre headquarters property in Boston’s Fort Point for $252 million.
The sellers were General Electric and MassDevelopment.
GE will remain on the site as a tenant. The two brick buildings include 95,000 square feet of space, with a bistro on the first floor, and will house GE’s senior executive team and approximately 250 GE employees.
The vacant parcel is permitted for a new, 12-story building with approximately 297,000 square feet of space.
MassDevelopment is making back the $87 million it spent on the property, with an additional $11 million in profit, according to the
