Dallas: Occidental Petroleum to Move 100 Employees to Houston Following Sale of Oxy Tower

Occidental Tower in Dallas sold for $90 million.

In Dallas, Some 100 Occidental Petroleum employees will be relocated to Houston following the sale of the 570,000-square-foot Occidental Tower on the LBJ Freeway in Dallas.

With a sales price of $90 million, the 24-story building, located just west of the Dallas Galleria, was purchased by a partnership of Dallas-based Encore Enterprises and New York Life Insurance, as stated by the Dallas Morning News.

Colliers International brokered the deal. The seller was Occidental Tower Corp., an affiliate of the petroleum company.

About 100 Occidental Petroleum employees who work in the building will be relocated to Houston, where the firm has its headquarters in the Five Greenway building in the Greenway Plaza complex in Houston’s Inner Loop.