NEW YORK CITY-PepsiCo, whose brands range from Pepsi-Cola to Frito-Lay, has signed a five-year lease in Hudson Square. The food and beverage giant is taking 19,800 square feet at Trinity Real Estate's 350 Hudson St., representing its first Manhattan office presence. The space will house executive and administrative offices for the company's newly formed Global Design team, a PepsiCo spokesman tells GlobeSt.com.
“Hudson Square is increasingly becoming a destination for major international brands drawn by the energy and unique character of the neighborhood and the quality of the space,” says Jason Pizer, president of Trinity Real Estate, in a release. “We are delighted that PepsiCo has chosen to join our growing community.”
Trinity Real Estate was represented in-house by Pizer and Charles Laginestra, while PepsiCo was represented by Gerry Miovski and Sam King of CBRE Inc. Asking rents are in the high $50s per square foot.
PepsiCo's global headquarters are at 700 Anderson Hill Rd. in Purchase, NY. The company's spokesman says there are no plans to diminish its presence at 700 Anderson Hill, nor to relocate headquarters to New York City.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
