MassDevelopment and GE Pay $83 Million for Fort Point Land

MassDevelopment paid a total of $57.4 million for the properties at 5 Necco Ct. and 6 Necco St in Boston, and GE paid the remaining $25.6 million for a lot next door, to secure the site of the future GE headquarters.

MassDevelopment purchased the properties from Proctor & Gamble, which they plan to redevelop, with money granted to them by the state of Massachusetts. The properties are located at the north end of the Proctor & Gamble Gilette campus…