The Real Deal New York

Pepsi leases Manhattan space on Hudson Street

March 20, 2013 01:00PM

PepsiCo has signed a five-year lease for a 19,800-square-foot space at 350 Hudson Street — its first office space in Manhattan, the New York Observer reported.

Asking rents in the nine-story, 335,066-square-foot building, between Charlton and King streets, are $58 per square foot, Jason Pizer, president of Trinity Real Estate, the building’s landlord, told the Observer. Other tenants include PR Newswire.

Pepsi would like to occupy the space by the end of the year, Pizer said. However, the company will be building out the space, which will take about three to four months.

Gerry Miovski and Sam King of CBRE represented PepsiCo.

In February, Sam Chang’s McSam Group sold the lease on a development site in Hudson Square for about $50 million, as TRD previously reported.

“Hudson Square is increasing becoming a destination for major international brands drawn by the energy and unique character of the neighborhood and the quality of the space,” Pizer said in a statement. “We are delighted that PepsiCo has chosen to join our growing community.” [NYO] –Hayley Kaplan