Boeing sells its Commercial Airplanes headquarters for $100M
Its the latest in a series of real estate divestments made by the planemaker as it slashed costs during the pandemic-driven aviation downturn
Boeing has completed the sale of its Commercial Airplanes headquarters campus in a suburb of Seattle.
The complex was put on the market in April, according to The Seattle Times.
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Unico Properties, a subsidiary of a Seattle-based private equity real estate investment firm, is the buyer.
While the company did not disclose the purchase price, a person with knowledge of the sale put it at $100 million.
Unico said it bought the site for its location near commuter rail, the Southcenter mall and Seattle-Tacoma International Airport as a "transit-oriented investment," according to a news release.
A building owned by Boeing that was the Commercial Airplanes headquarters is seen in Renton, Washington, U.S., May 14, 2021. REUTERS/Karen Ducey (REUTERS/Karen Ducey / Reuters Photos)
It's the latest in a series of real estate divestments made by the planemaker as it slashed costs during the pandemic-driven aviation downturn.
Besides the headquarters building, the site included another building that once housed Boeing’s state-of-the-art training facilities and full-flight simulators.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 155.44 | +3.04 | +1.99% |
Boeing moved the simulators to Miami and the training to other facilities.
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The complex was built on the site of the former Longacres horse-racing track which Boeing bought 31 years ago.