PepsiCo confirmed earlier reports that it will move its Chicago office to the Old Post Office building. Located at 433 W. Van Buren Street, the redeveloped property will serve as the headquarters for its sports drink, juice and Quaker Foods portfolios—including the Gatorade, Tropicana and Quaker Oats brands—as well as PepsiCo Beverages’ North America Central Division.
The food and beverage giant signed an eight-year, 192,000-square-foot lease for its 1,300 Chicago employees, making PepsiCo the third-largest office tenant in the Old Post Office. PepsiCo is partnering with Cresa, IA Interior Architects and Skender on this project and anticipates opening the new space in the winter of 2020.
“As a CPG powerhouse with world-class talent, Chicago is an essential hub for accelerating PepsiCo’s growth and realizing our vision to be the global leader in convenient foods and beverages by winning with purpose,” said Ramon Laguarta, chairman and CEO, PepsiCo. “This state-of-the-art workspace will enable our company to grow our brands faster, strengthen our capabilities with enhanced facilities and resources, and continue to serve as community partners to Chicago and across North America.”
The project will meet the growing needs of current and future talent by creating a more agile and productive working environment for employees. The open-floor, amenity-rich space will play an important role in increasing collaboration, innovation and growth.
“PepsiCo’s renewed commitment to Chicago is a testament to our shared talent, vision, and values for the future that have served as the foundation for our relationship through all these years,” said Mayor Lori E. Lightfoot. “PepsiCo’s move to the beautiful, historic Old Main Post Office solidifies its strategic position throughout the region, enabling it to grow into new areas, create new jobs, expand opportunity, and take our partnership to even greater heights, while furthering Chicago’s position as a global hub for the food and beverage industry.”
New-York-based 601W Companies is in the midst of an $800 million renovation on the 2.8 million-square-foot, Art Deco building. Gensler is leading the design efforts, Bear Construction is the general contractor and The Telos Group is the brokerage tasked with bringing tenants to the rejuvenated property. The building’s first tenant, Ferrara Candy, moved in earlier this month; other tenants to follow include Uber, Cboe, Walgreens, the Chicago Metropolitan Agency for Planning, AbelsonTaylor and Kroger subsidiaries Home Chef and 84.51°, among others.
