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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

/articleid/3807712/1/pictures/2048264">Photo - Central Park Two building at 515 Central Park Drive in Oklahoma City on Aug. 4, 2011. Photo by Paul B. Southerland, The Oklahoman <strong>PAUL B. SOUTHERLAND</strong>
Central Park Two building at 515 Central Park Drive in Oklahoma City on Aug. 4, 2011. Photo by Paul B. Southerland, The Oklahoman PAUL B. SOUTHERLAND

Chesapeake is expected to sell more office buildings in the coming months, said Cordell Brown, a real estate broker for Price Edwards & Co. who was not involved in the Central Park sale.

“I think it's just a matter of Chesapeake divesting itself of properties it doesn't see any future need for,” Brown said.

While Chesapeake's real estate holdings are significant in Oklahoma City, Ford Price, managing partner for Price Edwards & Co., believes the company's divestitures will have a negligible effect on the local market.

“Unless they really start selling off more assets, I don't expect there to be a significant impact on the office market,” Price said.

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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