Connecticut Lottery Moving Headquarters to Wallingford
WALLINGFORD (May 31, 2023) — The Connecticut Lottery Corp. has signed a lease with the owner of 15 Sterling Drive to relocate and consolidate its operations in 136,000 square feet on the town’s east side.
The lease for the lottery’s current headquarters in Rocky Hill expires in June and executives were seeking a location that could house all its operations under one roof. The move to Wallingford is planned for August and the Rocky Hill headquarters will remain open to the public until then.
According to Mary Ellen Godin, Record-Journal staff, a spokesman for the quasi-public agency said the lottery will provide more details closer to its move-in date. The Lottery Corp. is expected to invest $9 million in renovations to convert the former warehouse and industrial space into offices and a television studio.
“We are not looking to move until August,” said Lottery spokesman Christopher Davis. “We’ll have more details later when we get closer.”
Davis said the Wallingford location was selected for its easy access off the highway for players and employees. There is also enough space to spread out and include all its operations, which are now scattered in four sites in Rocky Hill. Wallingford also has a municipally owned Electric Division, which translates to roughly 25 percent lower utility costs for commercial and residential customers.
“We’re pleased that active commercial space is filled,” said Mayor William W. Dickinson Jr. “And employees will be coming in. It’s a good sign of economic vitality. I’m not sure what their criteria was but I’m pleased we came out on top.”
The deal has been in the works for some time after the lottery searched about 15 sites in central Connecticut. The 10-year lease was signed in the fall, according to NewHavenBiz.com.
Mark Duclos, the founder of Sentry Commercial, represented the landlord, Sapphire Group 151 LLC of Lakewood, New Jersey. The building was the former home of financial services company Fiserv Inc. and the Arris Group, which left the building just as the brokers were working on the deal for the Lottery Corp. MRC Global already occupies 36,000 square feet in the building.
“It’s a win for the landlord,” Duclos said. “It’s nice to have the lottery in that building.”
Wallingford officials were also pleased with the deal.
“We’re looking forward to them coming to town,” said Economic Development Commission Chairman Joseph Mirra. “Any new industry is welcome and we love to see that building filled and it’s a boost to the downtown business community. They’re going to be a good neighbour.”
Town officials are meeting with lottery representatives next week on details of the pending arrival, Mirra said. He suggests the lottery selected Wallingford for its central location, highway access, electric rates, good schools, nearby airports, rebuilt train station and nearby medical facilities.
In addition to its headquarters and corporate offices, the Lottery Corp. will also bring its warehouse space, TV studio and online betting operations to 15 Sterling Drive.
The lottery employs more than 140 people and generated $1.6 billion in operating revenue in fiscal 2022, and has experienced growth after launching online and retail sports betting operations in 2021, according to NewHavenBiz.com.
CBRE of Hartford assisted the lottery in its site search. Representatives from CBRE could not be reached for comment Wednesday.
According to Rocky Hill land records, the current lottery headquarters at 777 Brook St. is appraised at $11,921,700 and generates $1.9 million in annual rental income.
By: Mary Ellen Godin, firstname.lastname@example.org, T: 203-317-2255, Twitter: @Cconnbiz
SOURCE: My Record-Journal.Tags: Connecticut Lottery Corporation, Wallingford, Rocky Hill, NewHavenBiz.com