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Nichols Hills: sale of Chesapeake-owned shopping centers finalized

Ohio real estate investment trust and local real estate developer take control of properties.
by Brianna Bailey Published: March 1, 2014

The city of Nichols Hills announced to residents Friday that Chesapeake Energy Corp. had completed the sale of the Nichols Hills Plaza and Classen Curve shopping centers to an investor group including Ohio-based Glimcher Realty Trust and the owner of Oklahoma City-based Blanton Property Co.

Glimcher said in a regulatory filing earlier this month that the shopping centers and 12 acres of adjacent land were under contract for $51.8 million. The company told analysts during a conference call that it would pursue new national tenants for the shopping centers, as well as additional new development in the area.

“We are delighted that this group has acquired Nichols Hills Plaza and the other properties,” Nichols Hills Mayor Steve Goetzinger said in the announcement.

“Though it would be difficult to talk about specific retailers until we see a plan, and the announcement of any specific tenants should rightly come from the new owners, we all should be excited about the economic stimulation this project could bring to Nichols Hills and our sister city, Oklahoma City.”

Chesapeake Energy officials declined to comment about the sale on Friday.

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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