Subway’s new corporate slogan should read “Lease Fresh.”
The sandwich chain relocated its Connecticut corporate headquarters from Milford to Shelton, CT Post reported. The company is occupying 90,000 square feet across three floors of 1 Corporate Drive in the Enterprise Corporate Park, owned by R.D. Scinto.
The property is only 10 miles from the company’s old haunt. To some, however, it may feel a world away, considering the Milford hub was fittingly on Sub Way.
Subway announced its plan to leave Milford last June. The move will bring some perks, according to the Hartford Courant, including child care centers, health care providers and spas. There will also be dining options for those who don’t want a meatball marinara hero every day, and fitness centers for those desperate to sweat out their $5 footlongs.
Financial terms of Subway’s office lease haven’t been disclosed, though the Shelton Herald previously reported the deal is for 15 years.
Meanwhile, there’s already a project in the works to redevelop Subway’s former headquarters at 325 Sub Way, according to Patch. That property is also owned by Rob Scinto of R.D. Scinto fame. The plans call for the construction of a 160,000-square-foot industrial facility. FCP Euro, an online auto parts company, would be the primary user.
Subway has dual headquarters. In addition to its Connecticut office, the sandwich chain has an office in MIami, where chief executive officer John Chidsey lives.
Chidsey’s days with Subway may be numbered, though. In August, Roark Capital announced its $9.6 billion acquisition of the chain, adding to a portfolio of restaurant brands that includes Dunkin’, Arby’s, The Cheesecake Factory, Jimmy John’s and Sonic.
Executive Trevor Haynes’ departure was announced prior to the Roark Capital revelation and Chidsey himself has departed as chief executive officer of a food chain — Burger King — after its sale to an investment firm.
— Holden Walter-Warner
Read more
Commercial
National
CT office complex sold for $30M
Commercial
National
Lego letting go of Connecticut office
Commercial
National
Large office complex up for auction in Connecticut