PepsiCo. Takes 75,090 SF at Reckson-Owned Business Park

VALHALLLA, NY-Global convenience food and beverage giant PepsiCo. has leased 75,090 sf at 100 Summit Lake Dr., a 249,551-sf property at the three-building Reckson Summit office complex here.

Details of the lease at the Reckson Associates Realty Corp.-owned business park were not released, but according to Salvatore Campofranco, managing director, Westchester/Connecticut division for Reckson, Pepsico’s rate is typical for class A space in the Westchester area. “The deal was done at a rate that approximates asking rents in this market,” Campofranco tells GlobeSt.com. Asking rents at Reckson Summit are $27 per sf.

PepsiCo. is slated to move its Information Technology division into the Summit Lake Drive space next month. Robert Bundy of the Staubach Co. represented the tenant in the transaction.