R
ubenstein Partners has put the former PepsiCo office campus in Plano on the market after a $20 million renovation. The Philadelphia-based private equity firm is working with Lincoln Property Company to find a buyer for the 250,000-square-foot building at 5600 Headquarters Drive. The property was developed in 1999 and housed PepsiCo's logistics and technology teams until last year.

    Rubenstein acquired the 27-acre campus in April 2022, after PepsiCo announced its plans to relocate. The firm invested $20 million in upgrades, including a redesigned lobby, new entrance facade, tenant lounge, fitness center, and outdoor area with kitchen and pickleball court. The renovations were partially financed by Happy State Bank and supported by a City of Plano grant program.

    The modernization aligns with Plano's incentives to attract companies seeking distinctive office settings, according to Doug McDonald, the city's economic development director. Plano is a hub for corporate and industrial activity, with companies transforming office spaces into hubs for growth and employee engagement. Tech firm Simplilearn Solutions is moving its U.S. headquarters from San Francisco to Plano, citing the area's "diverse talent pool."

    Other developments in the area include Foundry Commercial's office-to-industrial redevelopment at 2700 West Plano Parkway, expected to be completed by early 2026, and Raising Cane's purchase of a 400,000-square-foot property at 5320 Legacy Drive. The fast-food chain plans to relocate operations to the former Electronic Data Systems campus as part of its strategy to reach $10 billion in sales and 1,600 locations by 2030.