At a glance
Chesapeake Energy Corp.'s
real estate timeline
1989: Aubrey McClendon and Tom Ward start Chesapeake Energy. They pay $240,000 for a single 6,000-square-foot office building in 1989 at the office park known as “Three Chopt Square,” 6200 N Western Ave. Over the next few years the company buys the entire office park for its headquarters.
1997: Chesapeake Energy buys adjacent land for expansion.
2000: Chesapeake Energy begins building new, Georgian style brick buildings as it continues headquarters expansion.
Early 2000s: Chesapeake Energy begins buying nearby office and warehouse properties.
2005: Chesapeake Energy and its affiliates begin to buy retail properties, including Glenbook Centre, 1140 NW 63, for $8.5 million.
2006: Chesapeake Energy buys Nichols Hills Plaza for $27.5 million. When asked about talk of Nichols Hills Plaza being turned into “another Utica Square” — the popular Tulsa retail-restaurant center — Executive Vice President Tom Price Jr. responds Chesapeake is an oil and gas company, first and foremost, and not a real estate developer. That same year the company buys Metro Center, 6418 N Western, a retail and office complex home to the upscale Metro restaurant, for $1.85 million.
2008: Deep Fork Acquisition, a company sharing the same post office box with Chesapeake Land Development, buys Deep Fork Restaurant, 5418 N Western, for $4.5 million. The property previously sold for $775,000 in 2000. Chesapeake buys a 2,000-square-foot Shell station at 6405 N Western built in 1969 for $3 million. McClendon also begins approaching upscale retailers about moving into a planned upscale shopping center, Classen Curve, that the company sought to build at Classen and Grand Boulevards.
2010: Classen Curve opens. Whole Foods confirms it will anchor a second shopping center, Triangle, that Chesapeake Energy will build just north of Classen Curve.
2011: Crescent Market, a 122-year-old grocery at Nichols Hills Plaza, closes and the owner blames its demise on a $6,000 per month rent increase by landlord Chesapeake. The company announces plans to open its own grocery in the same spot. The adjoining Nichols Hills Drugstore closes its lunch counter and moves into a smaller storefront after being assured by Chesapeake the pharmacy will be included in the new grocery.
2013: Nichols Hills Drugstore leaves Nichols Hills Plaza. The grocery and other commercial projects are left in doubt as McClendon is set to leave Chesapeake Energy on April 1.
STEVE LACKMEYER AND BRIANNA BAILEY, Business Writers