The defense giant — part of General Dynamics — plans to expand its engineering, training and software development work at the site.
Electric Boat says it has closed on the acquisition of the former Sears store in Waterford’s Crystal Mall.
This was the last piece of the overall property that the submarine builder was looking to acquire to complete its ownership of the mall. The value of the deal was not disclosed.
The defense giant — part of General Dynamics — plans to expand its engineering, training and software development work at the site as it ramps up submarine production at its Groton and Rhode Island shipyards.
Renovations are expected to begin at the mall property in mid-2026, and the company hopes to have employees on site in 2027.
In June, Electric Boat bought the Macy’s store in the mall,
followed by the bulk of the rest of the property in October.
“The Sears location is an important addition that will facilitate Electric Boat’s ability to accelerate submarine production,” said Mark Rayha, president of Electric Boat. “This is our third and final acquisition of property at this location, which will address the increasing demand signal for submarines by our nation.”
The Waterford site is about five miles away from EB’s main waterfront property in Groton.
The new facility will eventually house several thousand workers, including some new hires and some relocated from Groton or New London.
Rayha said the company intends to hire a further 300 to 400 people before the end of the year, and another 2,000 next year.
