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Chesapeake Energy sells twin office buildings for $22 million

Company sells properties for $7 million less than it paid two years ago.
by Brianna Bailey Modified: May 8, 2013 at 8:34 pm •  Published: May 9, 2013

Chesapeake Energy Corp. has sold the twin Central Park office buildings near N Lincoln Boulevard and Interstate 44 for $22 million, taking a $7 million loss on the properties it purchased two years ago.

The six-story office buildings sold to the Florida limited liability company Central Park on Lincoln on May 1, according to property records. Chesapeake purchased the office towers in August 2011 for $29 million.

An attorney for the buyers declined to comment on the purchase.

Access Midstream Partners, formerly Chesapeake Midstream Partners LP, moved its operations into the north Central Park office building in 2012, after Chesapeake Energy sold all of its interest in the midstream company to its former partner, the private equity firm Global Infrastructure Partners.

Chesapeake has been selling off some of the many office buildings it owns over the past several months as the company looks to cut back on spending. With the sale of the Central Park buildings, Chesapeake has booked a $16.5 million loss on sales of office buildings in Oklahoma City over the past six months.

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by Brianna Bailey
Business Writer
Brianna Bailey has lived in Idaho, Germany and Southern California, but Oklahoma is her adopted home. She has a bachelor's degree in Journalism from the University of Oklahoma and has worked at several newspapers in Oklahoma and Southern...
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