Sandwich chain Subway announced this morning that it will be moving its headquarters from Milford, but it will be staying in-state.

The company said it had signed a 15-year lease for 90,000 square feet at 1 Corporate Drive in Shelton. Subway currently owns its 87,345-square-foot headquarters building at 325 Sub Way in Milford, built in 1988. The 2-story, 7.58-acre property is appraised at $7.76 million and sits just off Exit 35 on Interstate 95.

The company has not announced its plans for its soon-to-be-former headquarters space, although the southwestern Connecticut office market remains significantly depressed.

“We explored multiple options as we started on the journey to refresh our offices in Connecticut, taking into consideration the community we’ve been a part of for nearly 50 years, while also ensuring we’re able to provide our employees an exceptional workplace experience both professionally and personally,” CEO John Chidsey said in a statement. “We’re extremely excited about our new location in Shelton that will feature an upgraded, modernized workspace as well as outstanding amenities within the corporate complex.”

The new headquarters will offer employees multiple dining options, “state-of-the-art” fitness centers, recreational activities, such as tennis and basketball, medical facilities, covered parking and childcare centers.

“This move is all about enhancing our employee experience,” Subway Director of Business Services Bill Ekstrom said in a statement. “In addition to being able to offer many additional features and an elevated, contemporary space, it was of utmost importance that we found a location that would provide minimal disruption to our employees. The close proximity to our current Milford home – just 10 miles down the road – will help us do just that, plus provide more services that will allow employees to take care of errands and personal needs on site.”

The company expects to complete the transition to its new location next spring.

The move comes a year after Subway announced it was opening a second headquarters in Miami, Florida for some consumer-facing functions.