Chesapeake empire marches on

[jn1780]

It will be very interesting to see what they do with the rest of the vacant land between their main campus and the RR tracks on the east side.

There are still about 10 full blocks just in that area that have been scraped. I don't think they will sell them... Probably just sit on them for the time being.

I don't think they would like to kill the idea that they would need it for growth in the future. Even if it means sitting on it for 10+ years.

[catch22]

2003:



2013:

[OKCTalker]

I couldn't locate the Chesapeake campus thread (Pete - did you consolidate?) so I'll post these two transactions here:

6403 NW Grand (NE/C at 63rd) $1,800,000 by 111 Realty Investors LP (Ft. Worth mailing address), 13,216 sf, $136.20/sf. CHK paid $5,000,000 in 1/2008. They sold for 36% of what they paid.

5804 NW Grand (next to Flip's) $600,000 by 111 Realty Investors LP, 3,000 sf, $200.00/sf. CHK paid $875,000 in 5/2006. They sold for 69% of what they paid.

[warreng88]

I have a good friend who works at CHK (he survived) and forwarded an email to me saying Elements (the restaurant on the ground floor of One Grand) was having a "Farewell Lunch" today which I guess is saying the sale of building is done or in the process.

[tomokc]

Reported over the weekend was Chesapeake's sale of 1200 NW 63rd (Chase Bank Building) to 63 Grand LLC for $3,950,000, or $100.34/sf.

Who is 63 Grand LLC?

[AP]

I think Pete said in another thread it was a Rainey Williams company.

[ChargerAg]

It looks like one of the cameras has been turned to look at the large retintion pond. Looks like there is some dirt work going on. It will be interesting to see how they finish this off. I am betting just some grass and a sidewalk to go around it.


Construction Camera: Chesapeake Energy ? Bay

[Pete]

If you look at what they've done with their campus since Aubrey's ouster, they haven't started anything new, have tried to wrap up what was already in progress and have pretty much put down sod in all the empty lots (and there are still tons) and called it good.

There is nothing really around this pond so I suspect they will sod around and let it sit.

If and when they ever what to expand, they still have 10 full blocks of cleared land east of their existing buildings.



I still think they are going to sell the two Grand Park buildings to Mid*, so they might throw in this parcel and let them include it in their campus.

[Urbanized]

Always felt there would be major downtown real estate ramifications if/when Aubrey was ousted at Chesapeake. It's obviously the case now, and could become even more pronounced. Glad they didn't get further built out. Fortunately the ramifications are far less noticeable due to downtown's momentum in the housing market and other energy cos, most notably Continental and Devon.

[tomokc]

Always felt there would be major downtown real estate ramifications if/when Aubrey was ousted at Chesapeake. It's obviously the case now, and could become even more pronounced. Glad they didn't get further built out. Fortunately the ramifications are far less noticeable due to downtown's momentum in the housing market and other energy cos, most notably Continental and Devon.

I don't understand how either CHK or AEP real estate activity affects downtown.

[Urbanized]

Well, I guess we can start by talking about MidFirst...

[Just the facts]

Always felt there would be major downtown real estate ramifications if/when Aubrey was ousted at Chesapeake. It's obviously the case now, and could become even more pronounced. Glad they didn't get further built out. Fortunately the ramifications are far less noticeable due to downtown's momentum in the housing market and other energy cos, most notably Continental and Devon.

I wouldn't worry about Chesapeake trying to subdivide out their campus. Trying to retrofit a corporate campus is one of the hardest things to do in real-estate and I doubt they would even spend the money to try it.

[Pete]

The undeveloped land to the east could easily be developed as stand-alone office buildings.

Really, there is nothing apart from the central campus that couldn't be sold off as individual parcels or buildings.

However, I think CHK will need everything they've built on campus and I bet at some point they will expand at least a bit more.

[Urbanized]

*fingers crossed*

Truthfully, downtown only needs another couple of years at its current pace to be mostly immune to the direct effects of a suburban glut, but it would sure be nice to have had MidFirst and/or others land downtown.

[tomokc]

While out at lunch I noticed Midwest Wrecking is demolishing the building at 818 NW 63, a black three-story, split-level office building on the SE/C at Francis. That entire block is now clear between 62nd & 63rd, Francis & Shartel.

[Plutonic Panda]

I could not believe there wasn't a page for this subject. If there is, please move this. I searched Google and The Advanced Search feature. There was a Chesapeake thread that Thunder started, but was speculation about a new tower from Chesapeake- other than that, nothing.


Here are a bunch of photos I took today of this beautiful area.



















Awesome garden. Not sure if it is exclusive to employees or not, but is still very cool!







Some various dirt work going on around. Not sure if they're going to let this sit or not.

My panorama attempt :p




Really hope they don't leave this building here


This had people working on it today, so not sure what it was. It is on the corner of NW 63rd St. and Lee Ave.





Big retention pond that Pete said they were going to build a huge building around it but scrapped it. :( This would've been really cool to have a real pond filled with water and a trail around it with a building and a restaurant overlooking it.







Finally, this vacant piece of land would make a great 30-55 story residential high-rise. It would overlook a nice--what could be pond--, have a look at the beautiful campus next to it, beautiful of the Capitol, and a great view of the skyline. It would really be awesome!

[Plutonic Panda]

Figures. I find this thread--that I knew was there!!!-- trying to find the Brickopolis thread. Sorry Pete or MMM for creating a new one.

[Pete]

[Pete]

[catch22]

Somehow those photos make me sad, Aubrey was unable to complete his vision.

[Pete]

IMO, things worked out for the best... Especially for Chesapeake itself as that company was fast headed for collapse.

Classen Curve, the area to the north and NH Plaza are all way better off being owned by Washington Prime, evidenced by all the great new-to-market tenants they've brought in. Plus, still planning REI, housing, etc.

MidFirst bought a lot of the property to the south and have fully occupied all those buildings which would be largely empty if CHK still held them. And they'll eventually develop the Grand / Western triangle, something that didn't happen in 10 years of Aubrey & CHK ownership.

Many of their other properties -- like 63rd & I-44 -- have been bought by growing OKC companies like Loves.

And Chesapeake itself still has plenty of room to grow to the east.

[Pete]

[wsucougz]

I can't help but wonder what the next chapter will be for all of this

[Pete]

The good news is they have consolidated all their OKC employees to this campus.

Since they are down to about 2,100 now, I wonder how full those buildings are.

[Bullbear]

The good news is they have consolidated all their OKC employees to this campus.

Since they are down to about 2,100 now, I wonder how full those buildings are.

I mean parking should be a breeze around there.