Talisman Energy - The largest office leasing transaction in recent years in Ho Chi Minh CBD

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The Challenge

Talisman Energy Inc. (Talisman) is a global upstream oil and gas company. Talisman was one of the anchor tenants at Saigon Tower, occupying over 3,000 sqm of grade A office space.

In 2014, Cushman & Wakefield Tenant Advisory Group and Project Management Services were appointed as Talisman’s Tenant Representative to devise a strategy for their relocation taking into consideration their long term growth plans in the most cost efficient manner. 

The Solution

With Talisman’s key requirements revolving around additional space for a growing workforce and upgraded facilities to promote comfort and motivation within their office, Cushman & Wakefield narrowed down a shortlist of potential options.

The shortlist was narrowed further as Cushman & Wakefield Tenant Advisory Group continued to evaluate the relative merits of the potential office buildings. Through extensive analysis, Le Meridien emerged as the front runner with Talisman swayed by the iconic nature of the building and its Grade A status.

The Results

Through detailed and lengthy negotiations with the Landlord, Cushman & Wakefield Tenant Advisory Group successfully secured competitive lease terms for Talisman in their desired building. During nearly 6 month negotiation with landlords, Cushman & Wakefield Project Management Services were successful in arranging Talisman relocation to Le Meridien. The rental rate and the terms both exceeded Talisman’s business case expectations.

Talisman is now one of the key anchor tenants committed to Le Meridien.