SOMERS, N.Y.—Cushman & Wakefield, Inc.'s Metropolitan Area Capital Markets Group has been retained to market One Pepsi Way in Somers for sale. The 206-acre campus and its 540,000-sq.-ft., class-A office building serve as the long-time corporate headquarters of Pepsi Bottling Group.
Constructed in 1987 by PepsiCo Inc., One Pepsi Way was sold in 1998 to the Witkoff Group under a short term sale-leaseback (approximately 4.5 years), which Cushman & Wakefield arranged. The property again sold, in 2006, to Murray Hill Properties. Through the years, Pepsi Bottling Group has continued to renew its commitment, most recently in 2011 when it net leased the entire building through December 2015.
One Pepsi Way serves as the Bottling Group's comprehensive corporate facility, housing executive, finance, senior team and human resources groups. The entire fourth floor, which has been renovated by the tenant, houses its mission-critical IT operations. A strategic business development center is also located at the property.
The nine-story building features a "C" shaped design and views of the Muscoot Reservoir. Corporate amenities include a 290-seat cafeteria, meeting/conference space, a fully equipped health club with locker rooms, sports fields and recreation areas, and on-site parking for 1,500 cars.
One Pepsi Way is located adjacent to and accessible from Routes 35 and 100; the two highways intersect less than one mile from the property. Interstate 684 and the Saw Mill Parkway, major highways providing access throughout the state as well as connections to key regional highways, are located within minutes of One Pepsi Way via Route 35.