World wrestling Entertainment announced that is moving to 677 Washington Boulevard in Stamford in 2021. (Google Maps)

STAMFORD, CT — world Wrestling Entertainment, i beg your pardon has called Stamford home for decades, announced Wednesday that it will move its global headquarters from 1241 eastern Main St. To 677 Washington Blvd. In downtown Stamford in at an early stage 2021.

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The move into the former UBS building will allow the entertainment giant to consolidate its this firm offices, operations and also production studios into one location.

"One that the most important elements necessary come execute WWE"s long-term expansion strategy is world-class talent collaborating seamlessly to develop compelling content," said WWE Co-President George Barrios in a statement. "Our rectal initiative will be the structure to meet these objectives and underpins our capacity to deliver long-term value."

The firm plans to market the 1241 eastern Main St. Site, move out that leased room at 1266 east Main St., and also consider choices for its present production studio facilities in Stamford in ~ 88 and also 120 Hamilton Ave.

Click right here for an ext information top top the move and the factors behind it.

From the WWE announcement:

The new headquarters will administer the company with work space suited come its growing and also evolving workforce. The site in Stamford"s main business district provides greater accessibility from various means of transportation, floor to plan which are well-suited come producing video clip content and greater versatility in rectal design. The company anticipates the it will relocate to the brand-new headquarters in early on 2021.

WWE will certainly lease the an are for an initial hatchet of roughly 16.5 years commencing no previously than July 1, 2019, with 5 five-year renewal choices thereafter. The lease will certainly be accounting for together a finance lease, with the development of a lease duty (equal come the present value the future lease payments, i beg your pardon would result in the recognition of interest expense over time) and a right-of-use lease heritage (equal to the lease obligation less tenant incentives, i m sorry is depreciated top top a straightline basis v depreciation expense). Accordingly, the audit for the lease commitment is not expected to have actually a material impact on adjusted OIBDA. Depreciation expense associated with the right-of-use asset will be reflect in operating income. The Company"s resources expenditure guidance mirrors this initiative. That guidance estimated funding expenditures of approximately $70 million to $90 million for 2019 with continued spending in 2020 over the historic range of approximately 4% come 7% of revenue. Additionally, the firm expects to sell its owned and operated corporate basic at 1241 eastern Main Street, exit its leased spaces at 1266 eastern Main Street, and also will evaluate choices for its manufacturing studio facilities at 88 and also 120 Hamilton Avenue based upon strategic, operating and also financial considerations.

Additional information is available on the Company"s website, corporate.wwe.com/investors.

WWE Announces move To new Stamford Location

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