Challenge: Occidental Tower’s iconic stature, at the high-profile northwest corner of LBJ Freeway and the Dallas North Tollway, created a rare opportunity for a buyer to own one of the few distinguishable, large Class AA office tower in the metroplex. As a publicly traded company, Occidental Petroleum Corporation sought a discreet marketing campaign in repositioning one of its largest real estate holdings.
Strategy: The Colliers Capital Markets Team needed a strategic and subtle marketing strategy for the asset. A plan was formed to efficiently identify qualified institutional investors, relying heavily on their network of nationwide institutional relationships and investment groups.
Result: Colliers identified the eventual new owner to be the best group for acquisition as their headquarters had been at Occidental Tower since 2006. A smooth 30-day transaction was finalized while exceeding seller’s pricing expectations and holding all other terms and conditions confidential.