Boeing Co. has closed on a deal to sell 60 acres of industrial and office space it owns in Anaheim to Sacramento-based developer Panattoni Development Co.
Officials for Boeing said the sale, which had been in the works for several weeks, was completed on Friday. Terms of the deal weren’t immediately disclosed.
Some of the 60 acres that Panattoni is buying will be leased back to Boeing on a short-term basis.
Boeing had owned roughly 100 acres of industrial and office space in The Canyon, the 2,645-acre business park in east Anaheim. The company’s operations are the centerpiece of Anaheim’s industrial corridor along La Palma Avenue near the Riverside (91) Freeway.
The company has decided to keep the remaining 40 acres, running along the southwest corner of its campus, for the time being, according to Boeing officials.
Early plans call for Panattoni to head up a major campus-style redevelopment at the site it is buying, with offices as well as some industrial space.
Boeing last year announced plans to leave its decades-old Anaheim campus and shift local workers to Huntington Beach. At the time, the company said it would move about 3,700 employees to Huntington Beach during the next four years.
A good percentage of those workers are expected to move next year.
Boeing had been Anaheim’s second-largest employer, after Walt Disney Co. It and companies it acquired have had operations in the city since the late 1950s.
