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Chesapeake marketing Nichols Hills Plaza, Classen Curve

Oklahoma City real estate broker Price Edwards has confirmed that Chesapeake Energy Corp. is trying to sell Nichols Hills Plaza and Classen Curve.
by Adam Wilmoth Modified: August 22, 2013 at 4:00 pm •  Published: August 21, 2013

Chesapeake Energy Corp.'s effort to sell off assets is hitting closer to home.

In its Mid-Year Retail Market Summary, Price Edwards & Co. said “Chesapeake is marketing Nichols Hills Plaza for sale, perhaps to be closed by year-end. Classen Curve will most likely follow.”

Price Edwards declined further comment.

In a regulatory filing earlier this month, Chesapeake did not name Nichols Hills Plaza or Classen Curve, but said the company has “determined we would sell certain of our buildings (other than our core campus) in the Oklahoma City area.

“These assets are being actively marketed, and we believe it is probably that these assets will be sold over the next 12 months.”

Chesapeake spokesman Jim Gipson declined to comment Wednesday.

Chesapeake bought Nichols Hills Plaza in 2006 for $27.5 million, or $215 per square foot, a price retail property specialist Mary Grace of Grace Commercial Real Estate described at the time as “phenomenal.”

Merchants at the shopping center in 2008 told The Oklahoman they were told plans for rebuilding the plaza included a mix of more offices, housing and a hotel.

Chesapeake's plans for a company-owned grocery store in Nichols Hills Plaza have been scrapped and much of the southeast end of the shopping center where the grocery store was supposed to go remains empty.

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by Adam Wilmoth
Energy Editor
Adam Wilmoth returned to The Oklahoman as energy editor in 2012 after working for four years in public relations. He previously spent seven years as a business reporter at The Oklahoman, including five years covering the state's energy sector....
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