Share “Chesapeake Energy sells twin office...”

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 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...
+ show more


AROUND THE WEB

  1. 1
    Investigation at Tulsa County Sheriff's Office focusing on training of other reserve deputies
  2. 2
    Tulsa man accused of stabbing woman in domestic dispute
  3. 3
    Former Creek Nation deputy chief sentenced in embezzlement case
  4. 4
    Gov. Mary Fallin signs bill outlawing texting while driving
  5. 5
    Will Ferrell (as Harry Caray) says goodbye to David Letterman
+ show more