BOSTON (AP) — General Electric has pinpointed the site of its new Boston headquarters.
The company announced Thursday that it purchased land in South Boston from Procter & Gamble.
The site along the Fort Point Channel includes two older and mostly empty buildings and a parking lot, and is currently part of P&G's Gillette campus. It's across the channel from a central U.S. Postal Service facility and the South Station transportation hub.
Terms of the deal weren't disclosed. GE plans to build a new building and move to the site in 2018.
GE CEO Jeffrey Immelt discussed the move at the Boston College Chief Executives Club.
GE announced in January it was moving its corporate headquarters to Boston from Fairfield, Connecticut.
GE is talking with Rhode Island officials about opening a branch office in the state.