OVERLAND PARK, Kan. — Sprint Corporation has entered into a purchase and sale agreement with Occidental Management Inc.
The sale is expected to close in the coming months. Sprint is also in the process of merging with T-Mobile.
Last fall, Sprint entered into exclusive negotiations with a buyer for the Overland Park campus. The company plans to lease back the space that it needs. Even though Sprint will no longer own the buildings, there will be no change to the campus operations or processes, the company says.
Proceeds from the sale will allow investment in creating an atmosphere that fits the changing culture, Sprint said. Terms of the sale were not disclosed.
“We will concentrate our partners into buildings at the southern end of the campus and closer to Building 6200,” CEO Michel Combes said. “We are creating a new heart of our campus, featuring a vibrant common area for all, a new store for employee partners, The Hive, and more.”
Occidental Management is a Wichita-based company, so they have a vested interest in Sprint’s success. Occidental also owns the nearby Overland Park xChange (formerly the Overland Park Trade Center), located just northwest of the Sprint Campus.