Love's initially plans to lease out space in the Atrium Towers buildings, and gradually move in its employees as the company grows, he said.
The 227,000 square feet of office space that Loves bought from Chesapeake will give the company enough room to accommodate its growth for the next five years, Love said.
Chesapeake has begun to sell off some of its off-campus office buildings in Oklahoma City as it looks to downsize.
The company also is wrapping up construction on several new office buildings on its main campus at NW 63 and Western.
In October, Chesapeake sold the three-story Nichols Hills Executive building at 6403 NW Grand Boulevard to a Fort Worth, Texas-based investment group for $1.8 million. Chesapeake paid $5 million for the property in 2008.
Love's and Chesapeake declined to release the terms of the sale, which was finalized Friday.
Oklahoma County offices were closed Monday in observation of Veterans Day, and property records that would include the sale price were not immediately available.
“We have tremendous admiration for Love's and their business, and we are very pleased with this transaction,” Chesapeake spokesman Gordon Pennoyer said in a news releases. “The sale allows both companies to meet their business objectives — a win-win scenario for Oklahoma City.”
Chesapeake said in a recent regulator filing that the company had real estate in Oklahoma and Texas valued at $319 million that was for sale.