In the first phase of operations at its new headquarters at 707 Washington Blvd., WWE plans to open offices within the downtown property’s 13-story tower “towards the end of” the first quarter of 2023, according to a WWE spokesperson. The remainder of the office and production space in the new hub, which will cover about 400,000 square feet, is scheduled to open in mid-2023.
WWE is planning to move all of its Stamford-based employees to the new headquarters in 2023, with more than 800 people working there once all of the company’s space has opened, according to the spokesperson. The company is not planning to keep any employees at its current headquarters, at 1241 E. Main St., on the city’s east side; or at its production center at 88 Hamilton Avenue, a few blocks from 1241 E. Main.
The current headquarters is not for sale, but WWE would “entertain discussions with interested parties,” according to the spokesperson.
The new headquarters is the centerpiece of the revival of the complex at 677-707 Washington Blvd., which stood entirely empty for a couple of years after banking giant UBS in 2016 relocated its local offices across the street to 600 Washington. WWE’s production space will be housed in a seven-story pavilion, which once hosted one of the world’s largest trading floors when UBS was based there.
Tobacco giant Philip Morris International is the property’s second-largest tenant. In November, it opened its new offices, which cover about 71,000 square feet. PMI was formerly headquartered in midtown Manhattan.
There are a number of other tenants, including professional-services firm KPMG and architecture firm Perkins Eastman. With their respective arrivals in the fall of 2018 and spring of 2019, PE and KPMG became the first companies to take space at 677 Washington following the departure of UBS.
WWE is relocating its home base at a time of significant change for the company. For the third quarter of 2022, WWE’s revenues jumped 19 percent year over year to about $305 million. But a decline in quarterly profits reflected nearly $18 million in costs related to its recently completed investigation of alleged misconduct by former Chief Executive Officer Vince McMahon, who announced his retirement in July.
Stephanie McMahon, McMahon’s daughter and formerly the company’s chief brand officer, and Nick Khan, formerly president and chief revenue officer, replaced McMahon as CEO, while Stephanie McMahon also became chairwoman. Vince McMahon remains a WWE stockholder with a controlling interest.
pschott@stamfordadvocate.com; twitter: @paulschott