Innovation Point Update

05/09/19


Innovation Point Acquired for $252 Million

Alexandria Real Estate Equities has acquired the property at Innovation Point in Boston, MA for $252,000,100 from GE and MassDevelopment.

The parcel consists of two historic six-story brick Boston Wharf Company warehouse buildings at 5 and 6 Necco Street and a section of the existing Gillette parking lot. Designed by Gensler, GE's approximately 2.5-acre, 390,000 square foot campus will restore the existing warehouses. Approximately 1.5 acres of public space will be constructed at Innovation Point, including a Harborwalk extension. The campus will also include a coffee bar and waterfront restaurant space on the ground floor.

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