World Wrestling Entertainment Inc. struck a deal with Stamford Washington Office LLC to lease about 415,266 rentable square feet in two attached buildings at 677 Washington Boulevard and 707 Washington Boulevard in Stamford, Conn.
WWE plans to bring its operations, including its production studios and corporate offices, to the new site, which it has leased for about 17 years, the company said in a Form 8-K filed March 20.
Stamford Washington Office will construct base building improvements at the site, with delivery of the site to WWE expected to happen no earlier than July 1. The landlord will provide an allowance of up to $40.3 million for tenant improvements at the site, which WWE plans to carry out.
WWE will pay a base rent of about $19.1 million per year initially; about $20.9 million per year on the sixth anniversary of the rent commencement date; and about $22.8 million per year on the 11th anniversary of the rent commencement date.