Word: pepsico
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Dates: during 1967-1967
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...weeks ago, Pepsico Inc., the parent company of Pepsi-Cola, announced that it will move its headquarters from midtown Manhattan's Park Avenue to the 112-acre grounds of the Blind Brook Polo Club in suburban Westchester County, which it purchased. Nearby Greenwich, Conn., last week gave preliminary approval to American Can Co.'s plan for shifting its 1,300-employee international headquarters to a 141-acre tract by 1970. Olin Mathieson Chemical Corp. bought 60 acres in Stamford, Conn., for its chemical division, along with 700 white-collar workers. Uris Buildings Corp., builder of dozens of Manhattan...
Olin Mathieson and Pepsico blamed their departures primarily on an inability to find enough midtown space for their staffs. Vacant office space is so scarce in Manhattan today that other companies have grabbed eagerly at the forsaken quarters. Most of the demand comes from expanding businesses already on the scene, notably the headquarters of 26% of the nation's 500 largest corporations. In fact, Mayor Lindsay insisted that the city, with some 8,000,000 sq. ft. of office space due to be completed this year, is still amidst "a boom in corporate growth...