Although terms were not disclosed, asking net lease rates at the 1-million-sf property at 1501-15 Woodfield Rd. are $16.50 per sf. PepsiAmerica, Inc. will take the top five floors of the 14-story third phase of the complex, completed in 2002. Four years ago, the bottling company signed a 122,701-sf lease at 3701 Algonquin Rd., where space in the Crossroads of Commerce complex can be had for $10.50 per sf.

NAI Hiffman senior vice president Dennis Redmond represented PepsiAmericas, Inc. in the deal, which raises occupancy to 90% at the three-building complex on 41 acres northeast of the intersection of Meacham and Higgins roads. Leasing director Candy Keiser handled negotiations for Manulife Financial.

PepsiAmerica now serves 19 states as well as Eastern Europe, Puerto Rico, Jamaica and the Bahamas from its Rolling Meadows headquarters.