Occidental Management, a Wichita, Kansas-based, "turn-key" commercial real estate development and management firm, closed on its purchase yesterday of the 20-building, 190-acre Sprint Headquarters Campus.
Sprint Corp. chose Occidental after an extensive, nation-wide selection process based on their shared vision for working with Sprint and the other campus tenants to re-invigorate and create an environment for companies to recruit and retain top workforce talent in the region and country.
This vision includes the recently completed OPx redevelopment, which neighbors the campus and was transformed into a vibrant, contemporary Class A office complex.
"The Sprint campus has been one of our ideal acquisition targets in the Kansas City market, and we’re excited to start work to enhance the already amenity rich campus," said Gary Oborny, CEO and Chairman of Occidental.
The Sprint headquarters will remain on the Overland Park campus. As part of the agreement between the two companies, Sprint is leasing back buildings for its long-term office needs, primarily in the southern portion of the campus.
"We are excited to add to our operating platform in Overland Park. Sprint has solidified its long-standing commitment to Kansas City and we look forward to working with them and the other tenants on campus as they look to grow their businesses in our home State," said Chad Stafford, president of Occidental and Overland Park native.
With the transaction complete, Occidental expects to announce more details for its future plans for the campus by year’s end.