wwe is selling its old production studio in Stamford, Conn., to a Darien developer for $7.5 million. The site, once a key home for WWE, will now serve as an enhancement to the buyer’s neighboring property, creating a larger holding. With this, WWE takes another step forward in the process of restructuring its real estate portfolio. The old studio that has been the core of WWE for decades has abandoned its glorious legacy and thrown itself into the market.
WWE Stamford Studios sold for $7.5 million
WWE recently sold its iconic Stanford Studios. Development Company in Darien, V20 Grouppurchased the former WWE production studio on Hamilton Avenue in Stamford. The property, which includes two nearby lots, sold for nearly $7.5 million, according to city records.
V20 Group plans to convert the site into prime warehouse space for distribution or other uses. The company owns multiple industrial, commercial and residential properties in Fairfield County, including a newly established industrial park on West Stamford Avenue.
WWE’s former production facility on Hamilton Avenue occupies 33,000 square feet of space on three acres. Two parcels adjacent to 128 and 102 Hamilton Avenue add an additional 4 acres, creating a sizable complex. New owner V20 Group has confirmed there are no plans for residential development on the site. The Darien-based company is also behind the Heights Crossing project, a mixed-use apartment and retail complex set to open next year near the Noroton Heights Metro-North station.
V20 Group’s managing partner exclusively told CT Insider that the company has been keeping an eye on the Hamilton Avenue property since WWE put it up for sale a few years ago.
The company has been an active player in the Stamford real estate market. They recently purchased the former Channel Market on Canal Street. The group plans to attract a new grocery store to the site. “There’s so much development happening from an apartment growth perspective, but there really isn’t a lot of infrastructure in this part of the state to support it,” V20 partner Joe Vaccaro told CT Insider. “
“It’s really hard to build last-mile or critical warehouse infrastructure in southern Fairfield County because everything is so expensive,” Vaccaro added.
So far, V20 has no specific properties planned for the Hamilton Avenue property. “We’re going to be very aware of the neighbors around us,” Vaccaro told the outlet. “Everything we build, we try to design it beautifully as opposed to just building a metal building… We like to spend a little Extra money to make it look nice.”
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About two years ago, WWE moved its headquarters to a new location at 677-707 Washington Blvd. at Stanford. Last April, the company launched a state-of-the-art production center with five studios.
