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.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

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. 155.91 +0.91 +0.59%

Boeing moved the simulators to Miami and the training to other facilities.

CLICK HERE TO READ MORE ON FOX BUSINESS

The complex was built on the site of the former Longacres horse-racing track which Boeing bought 31 years ago.