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Pepsi Bottling Group Signs Lease, But Downsizes Space at 1 Pepsi Way

SOMERS, NY-After exploring options in Connecticut and New York, the Pepsi Bottling Group has signed a new lease, but has downsized its presence at 1 Pepsi Way by more than 170,000 sf.

By John Jordan | Updated on February 21, 2001

SOMERS, NY-The Pepsi Bottling Group has decided to retain its cooperate headquarters here and has signed a lease renewal for approximately 350,000 sf. The new deal ensures the retention of the company and its 1,100 employees in Westchester County. However, the new commitment does free up more than 170,000 sf of space at the 522,800-sf 1 Pepsi Way building, which is owned by the Witkoff Group of New York City.

Kelly McAndrew, a spokesman for The Pepsi Bottling Group, says that the company notified its workers yesterday, Tuesday, Feb. 21, that it was staying put at the building. She notes that the new lease, which went into effect at the closing on Monday, Feb. 19, expires on Dec. 31, 2009. Its prior lease for the entire building was to expire at the end of 2002.

The Staubach Company represented Pepsi Bottling Group in the transaction. Julien J. Studley represented the Witkoff Group.

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