Somers Pepsi Site Sells For Nearly $87M; Carlos Slim Said To Be Owner

SOMERS, N.Y. -- PepsiCo's campus in Somers has been purchased by a little-known company for nearly $87 million, records from the town and Westchester County show.

The entrance to PepsiCo's Somers campus.

The entrance to PepsiCo's Somers campus.

Photo Credit: Tom Auchterlonie

The buyer is listed as an entity called One P Way LLC. Forbes reports that the buyer is linked to Mexican tycoon Carlos Slim, who is also known in the press by his formal name, which is Carlos Slim Helú. 

Forbes estimates that Slim's net worth is $75 billion and that he is the world's second richest person.

The transaction was completed in March, records show, with the exact purchase price at $86,964,200. The purchase included a hefty transfer tax of $347,858.

The purchase price represents a sizable premium over the site's full market value, which is an estimate from the town assessor's office of what the 206-acre site could sell for. The assessor's office lists the site's full market value at $70,270,270 and its assessed value at $9,100,000.

Slim owns the PepsiCo site as an investment, Forbes reports, citing a confirmation from his son-in-law and spokesman, Arturo Elías Ayub.

Forbes quotes Elías as calling the buyer a "privately owned-real estate company" and adds that he was not able to confirm the price.

County deed records show that the buyer's address is in a Mexico City office building called Plaza Carso, which is home to corporations including Telmex Internacional.

Telmex is among Slim's business holdings, according to a biographical site. Slim helped to develop Plaza Carso, according to a translated history section of the office complex's website.

Elías and PepsiCo could not be reached for comment. Somers Supervisor Rick Morrissey did not respond to a request for comment, nor did Norman Sturner, the site's previous owner.

Sturner, a founder and chief executive officer of MHP Real Estate Services, owned the campus indirectly; county records show that his connection was through intermediate companies. The direct owner of the campus was PSI Investments, LLC, according to county records. However, records from the town of Somers list the owner as PSI Holdings, LLC, which is a related company.

PepsiCo previously announced plans to move its workforce out of the campus, which is near the intersection of Routes 35 and 100, and transfer them to facilities in Purchase and White Plains. No layoffs are planned in connection with the move, a PepsiCo spokeswoman previously stated.

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