WWE Signs 415,000 SF Global HQ Lease in Downtown Stamford
The wrestling entertainment giant has signed a 415,000-square-foot lease with New York City-based George Comfort & Sons, Inc. at 677 Washington Blvd., the former North American headquarters of UBS, for its global headquarters.
STAMFORD, CT—The WWE will be relocating and consolidating its headquarters, operations and production facilities to Downtown Stamford in a lease totaling more than 400,000 square feet.
The wrestling entertainment giant has signed a 415,000-square-foot lease with New York City-based George Comfort & Sons, Inc. at 677 Washington Blvd., the former North American headquarters of UBS, for its global headquarters.
WWE will lease the space for an initial term of approximately 16.5 years commencing no earlier than July 1, 2019, with five five-year renewal options thereafter. With the deal, the three-building complex is now 72% leased. 677 Washington Blvd. includes a 13-story office tower, a seven-story Pavilion and a three-story retail and ancillary building.
Peter S. Duncan, President and CEO of George Comfort & Sons, said of the WWE lease deal, “For the past 20 years, 677 Washington Boulevard has been regarded rightfully as downtown Stamford’s commercial centerpiece. It’s both logical and exciting to have WWE be located there. Local office market conditions are continuing to improve and our firm is pleased to play a major role in that progress.”
Representing the WWE in the transaction were Drew Saunders, Robert Ageloff, Allison Melichar and Joe Messina of Jones Lang LaSalle. Building ownership was represented in-house by Duncan and Dana Pike. Cushman & Wakefield’s Jay Hruska and Richard Jantz served as advisors to WWE in the lease negotiations at 677 Washington Blvd.
The WWE, which expects to take occupancy of its new Downtown Stamford space in early 2021 will relocate from its current headquarters space at 1241 East Main St., known as the Titan Towers adjacent to I-95.
The firm reports that it expects to sell 1241 East Main St., exit its leased spaces at 1266 East Main St. and “will evaluate options for its production studio facilities at 88 and 120 Hamilton Ave. based on strategic, operating and financial considerations.”
WWE officials state that the relocation will allow the company to bring together its operations, including its production studios and corporate offices at one location.
“One of the most important elements necessary to execute WWE’s long-term growth strategy is world-class talent collaborating seamlessly to create compelling content. Our workplace initiative will be the foundation to meet these objectives and underpins our ability to deliver long-term value,” said George Barrios, WWE co-president.
WWE adds in its announcement of the pending move that the Washington Boulevard location in Stamford’s central business district provides the company with greater access to various modes of transportation, floor plans that are well-suited to producing video content and greater flexibility in workplace design.
George Comfort & Sons joined AVG Partners in the property’s ownership in early 2018, taking on operating and leasing responsibilities, as well as developing and executing the plan to reposition and re-lease the buildings. Before WWE’s signing, leases were recently completed with KPMG and Perkins Eastman.