Boeing has finalized the sale of its Professional Airplanes headquarters campus at Longacres, which was put on the market in April.
The purchaser is Unico Attributes, a subsidiary of a Seattle-based mostly private fairness true estate expenditure agency. The corporation did not disclose the acquire rate but a person with knowledge of the sale gave it as $100 million.
In a information release Unico explained it bought the internet site for its area in the vicinity of commuter rail, the Southcenter shopping mall and Seattle-Tacoma Global Airport as a “transit-oriented investment decision.”
The sale completes a collection of large actual estate divestments by Boeing this 12 months, driven by its have to have to drastically slash expenses throughout the pandemic-pushed aviation downturn.
The internet site involved not only the headquarters building but a different setting up that when housed Boeing’s point out-of-the-art training services and total-flight simulators. Pilots and airline mechanics utilized to occur there from all-around the globe just before Boeing moved the simulators to Miami and dispersed the schooling to other services.
Boeing acquired the web page 31 a long time ago, displacing the former Longacres horse-racing track.
The lavish flight schooling middle opened first and cost $65 million to create, according to previous Boeing Vice President Peter Morton, who finalized the aspects.
Morton rented a grand piano and commissioned music by Seattle-based pianist and composer Walt Wagner to be performed at the opening ceremony in 1995.
Before this calendar year Boeing experienced now bought off:
For the Bellevue places of work, Boeing agreed to a lease to continue on occupying that workplace park for two years.
The only Boeing assets remaining on the marketplace is a very small, quarter-acre parcel on Beacon Hill, the web-site of a previous radio tower.
Ned Carner, Unico main investment decision officer, in a assertion touted the 150-acre Longacre campus’s “enviable connectivity and a park-like environment,” which consists of two substantial ponds, an apple orchard and a 1-mile going for walks trail.
It encompasses 962,800 business sq. toes involving two big office buildings as properly as a day treatment facility and about 2,150 parking stalls. It is situated 3 miles from the Tukwila Transit Middle with up coming-stop access to downtown Seattle.
Unico plans cash investments to refresh and modernize the attributes, the enterprise mentioned.
Correction: A previous variation of this story mistakenly conflated two separate situations when Boeing VP Peter Morton ordered a piano for the company.
For the 1995 opening ceremony of the flight schooling centre at Longacres, Morton rented a grand piano for pianist Walt Wagner, who done with the Bellevue Philharmonic Orchestra and The Boeing Choir.
It was 4 years afterwards that he bought a $17,000 Baldwin grand piano, which he mounted at the Boeing Management Heart in St Louis for the social facet of the govt retreats there.