Business

April 23, 2014

Occidental purchases Overland Park property

Commercial real estate development and management firm Occidental Management disclosed Wednesday afternoon that it purchased the 650,000-square-foot Overland Park International Trade Center, just north of Sprint’s world headquarters in Overland Park.

Commercial real estate development and management firm Occidental Management disclosed Wednesday afternoon that it purchased the 650,000-square-foot Overland Park International Trade Center, just north of Sprint’s world headquarters in Overland Park.

“We are excited to enter the Kansas City market with a sizable acquisition that fits our strategic model of repositioning well located, diamond-in-the-rough assets,” said Occidental chairman and CEO Gary Oborny, in a news release.

Oborny said his company plans to create “a warm, contemporary look and feel” to the property, as well as upgrade its systems and structural components.

The center is 50 percent occupied, and Occidental is in the process of re-designing its exterior facade.

Occidental did not disclose a purchase price of the property, which sits on 31 acres. It said the purchase of the center was completed on April 17.

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