Judd Everhart, spokesman for the WWF Entertainment Inc., says that the company is in the market for approximately 250,000 sf of space in Fairfield County as well as in Westchester County, NY. Everhart, who notes that the company has yet to discuss possible incentives with either New York State or Connecticut, says the company is looking to consolidate its office space holdings in the region into one building.
However, he admits, that the final decision on a corporate headquarters "is not imminent." He adds that, "A final decision could be as long as a year away."
As a short-term solution, the WWF signed a lease for 13,563 sf of space at W&M Properties' Soundview Plaza building across the street from the company's corporate headquarters at 1241 East Main St. The WWF owns and occupies the entire 1241 East Main St. property, which totals approximately 93,000 sf. The company also houses its TV studio and production facilities at 120 Hamilton Ave., where it occupies 38,000 sf of space.
The new lease at Soundview Plaza is for space on the fifth floor of the building and is for a five-year term. W&M Properties, the marketing and management agent for the seven story, 180,000-sf building, reported the lease deal at the building, which is owned by an entity of the Malkin family.
"Choosing Soundview was really quite easy for us. Convenience was a major driver, and the building has first-class space for our people," says Robert Mercurio, WWF's vice president of facilities and office services. "This move is part of a short-term strategy to alleviate crowding in our headquarters building and accommodate our growing business."
A total of 70 employees of the WWF's fledgling XFL business will be transferred from the corporate headquarters building to the Soundview Plaza space, according to WWF officials. Everhart notes that the corporate headquarters search has not been impacted by the fiscal woes of its XFL business, which recently concluded its first year of competiton with strong initial ratings, but saw viewer interest drop significantly during the remaining schedule of games. The professional football league is a partnership of the WWF and NBC.
W&M Properties' Executive Vice President Jeffrey H. Newman was assisted by JoAnn B. McGrath, W&M Properties' vice president of leasing and marketing, and Kathleen A. Caracappa, W&M Properties' leasing associate in the deal. Insignia/ESG's Executive Director Dean J. Shapiro, Director David J. Block and Consulting Director Robert Caruso represented the WWF in the lease transaction.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
