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Pete
11-19-2006, 08:40 AM
Chesapeake holdings shown in yellow / pink; green are properties they are actively trying to acquire.



http://www.okctalk.com/images/pete/chkproperties.jpg

http://www.okctalk.com/images/pete/chkaerial.jpg

1. MAIN CAMPUS
http://www.okctalk.com/images/pete/chk1.jpg

1A. SOUTH CAMPUS
http://www.okctalk.com/images/pete/chk1a.jpg

2. TRIANGLE AT CLASSEN CURVE
http://www.okctalk.com/images/pete/chk2.jpg

3. CLASSEN CURVE
http://www.okctalk.com/images/pete/chk3.jpg

4. WESTERN TRIANGLE
http://www.okctalk.com/images/pete/chk4.jpg

5. NICHOLS HILLS PLAZA
http://www.okctalk.com/images/pete/chk5.jpg

6. NORTH WESTERN AREA
http://www.okctalk.com/images/pete/chk6.jpg

8. NW 63RD & PORTLAND
http://www.okctalk.com/images/pete/chk8.jpg

10. CENTRAL PARK I & II
http://www.okctalk.com/images/pete/chk10.jpg

11. NW 50TH & WESTERN
http://www.okctalk.com/images/pete/chk11.jpg

Patrick
11-19-2006, 04:34 PM
I agree Malibusooner. It's much easier to go from floor 2 to floor 75 for your meeting. Thew further the campus spreads, the more silly it will be. OU Med Center has a campus, yet we still have 10 story towers, and parking garages.

Think about how large the OU Campus is in Norman, though. Chesapeake can stille expand a long ways.

Spartan
11-19-2006, 04:45 PM
I think there is a differance between a university and a corporate headquarters...certain things are appropriate. That's not to say you can't emulate the architecture of universities, by all means!

Pete
11-19-2006, 05:00 PM
Even though they call it a "campus" it is in fact nothing more than a private office park.

There is tons of surface parking between most the buildings and of course, on a real campus you can walk great distances without encountering a moving or parked car.

At least in California and the West where you typically see corporate campuses on this scale, the weather is nice the majority of the time. And the ones I have seen (and I've seen a bunch) are all laid out to facilitate movement between the buildings.


And I'd be much happier if they expanded to the east rather than across Western. The properties to the east are older and not worth much. Also makes you wonder why they are playing $12 million for a relatively small piece of property when there is much cheaper property all around there. You would think their shareholders would start calling them on this.

Why do they need to buy expensive, existing buildings with operating businesses on major streets like 63rd & Western to build office buildings? CHK paid $3 million per acre for that 4-acre tract, plus they'll have to put more in for demolition. The county assessor lists current market value around $1.5 million.

Spartan
11-19-2006, 05:32 PM
Have you ever actually been on the Chesapeake campus once in your life?

Pete
11-19-2006, 05:35 PM
Yes.

zuluwarrior0760
11-19-2006, 11:34 PM
Cheaper property to the east????
If Chesapeake is the prospective buyer,
there's no such thing......

Hahn Cook's getting a brand new facility and
a suitcase full of cash and Chesapeake buys
themselves "options for the future"

Here's a far fetched prediction ripe for debate:
How likely might it be that in 10 years, Western Ave.
will dead end into the Chesapeake campus.....
or go underneath it , ala 23rd @ Lincoln Ave...????

Spartan
11-19-2006, 11:39 PM
If that's a prediction, I think you're off.

Am I the only one left to see this for what it is? Good development?

Nah! Let's build us another Wal Mart. Yeeee-haaaaw!

Martin
11-20-2006, 05:56 AM
hey spartan,

fwiw i've never had a problem with this development... i don't think anything noteworthy has been demolished. when pearl's goes, i'll miss that... but it's not as if it anchors the area or anything.

i do agree, however, that further expansion would be better east than north across western. -M

The Old Downtown Guy
11-20-2006, 09:36 AM
I am at Chesapeake several times a week and though I agree with some of the points about distance and surface parking, I don't think the few really bad weather days we have in OKC are that much of a problem and the walk from building to building is pretty short. The spaces between the buildings are very nicely landscaped, there are lots of water features and the entire area is very well maintained. I would find it a plesant environment to work in. The health club, day care, food service and other ammenities are all first rate and a model for what it takes to attract the creative talent necessary for success in today's workplace. The interiors of buildings are light and have a nice feel. Each building has a large open gathering space at the ends where the bay windows are. A parking garage is under construction on the east side of Classen which will help with the parking issues.

Not perfect perhaps, but that is the model they have carefully choosen and they are obviously sticking to it.

BDP
11-20-2006, 10:18 AM
Nah! Let's build us another Wal Mart. Yeeee-haaaaw!

Actually, a couple of the displaced are moving into Wal-Mart type pad developments (Laredo's and Pearl's), so this development is encouraging that type of development through its displacements. These businesses have to go somewhere and, unfortunately, in OKC that's usually in orbit around a big-box store or mall. The net effect of some of Chesapeake's moves is more of such development.


Am I the only one left to see this for what it is? Good development?

It's really more re-development of an already viable district. If you drive down Wilshire between Western and 235, you see lots of nothing accented by single story concrete office strips. Placing a corporate campus on this isolated and somewhat unused land would have been considered good development and would have reinvented a drab and desolate area of the city into a nice office park. It also would have come at a considerable discount compared to buying up healthy businesses and displacing them.

I know these businesses and property owners get paid and, in a sense, they're the real winners. However, Chesapeake could have added to the area at a lower cost without re-imagining Western Ave. As a community we would have gained two fold, by maintaining a healthy Western Ave. district and adding a new vibrant Wilshire district.

What Chesapeake does usually ends up nice and they are a great corporate citizen, but the opportunity cost to OKC of their signature development will continue to baffle me.

Patrick
11-20-2006, 12:39 PM
You have to admit, before Chesapeake took up residence in the area, there was an empty field with not a lot to cheer about. Chesapeake's landscaping is first class. We should praise them for their work. I wish all businesses had such pride in their landscape!

jbrown84
11-20-2006, 01:58 PM
They have also brought up the standards of other new developments nearby. The Midfirst Bank next door is really good looking on the outside but you should see the inside. Looks like it belongs inside First National in the glory days. Also there is a small oil company nearby with a similarly fancy building. I do agree that expansion eastward would be better. No busy streets to cross, and that area just has some small, forgettable office parks and further east it's some pretty dumpy neighborhoods. I am glad they are building a garage though instead of more surface parking.

Spartan
11-20-2006, 03:05 PM
hey spartan,

fwiw i've never had a problem with this development... i don't think anything noteworthy has been demolished. when pearl's goes, i'll miss that... but it's not as if it anchors the area or anything.

i do agree, however, that further expansion would be better east than north across western. -M

Everything, I repeat...Everything, will be rebuilt all-new. The old Pearl's location was probably the nicest one, but you can't deny that the new Pearl's location won't be even nicer. That's just one example. Everybody wins with this Chesapeake deal. Unless you're a Nichols Hills vigilante homeowner, in that case, you will loose, because people are getting real tired real quick of this NIMBY bs directed towards high-quality development.

It's not as if Wal Mart has anything to do with Chesapeake. Oh no, we don't need another beautiful collegiate-styled 3-4-story building with stylish dormers gracing the streets!!

jbrown84
11-20-2006, 03:20 PM
Everything, I repeat...Everything, will be rebuilt all-new.

Tell that to Laredo's.

Martin
11-20-2006, 03:22 PM
from the renderings i've seen floating around, the new pearl's does look pretty impressive. i find the current location a tad cramped and the parking is crazy... but it does have character. the new location will likely have a better kitchen, meaning a better menu and more spacious dining and parking, but it won't be unique. all-in-all it is a win.

i happened to lunch at pearl's today and looked north across 63rd while i was eating... nothing really unique there worth defending if more of those owners decide to sell... 63rd doesn't get all that nice till you get closer to western. i don't really understand the fuss.

-M

Martin
11-20-2006, 03:23 PM
tell that to laredo's.
it's hardly chesapeake's fault that laredo's ran out of money before finishing their new location. -M

jbrown84
11-20-2006, 03:59 PM
I didn't say that, but he was being very adamant that EVERYTHING was being replaced.

BDP
11-20-2006, 04:13 PM
Unless you're a Nichols Hills vigilante homeowner, in that case, you will loose, because people are getting real tired real quick of this NIMBY bs directed towards high-quality development.

I'm not a Nichols Hills homeowner (not sure how I could be a vigilante in this case), but if Chesapeake's exapnsion continues as rumored, I still loose an area of the city that I used to visit. If Oklahoma City continues its long history of simply destroying viable properties for new development, we will all continue to lose.

The point is not that Chesapeake's developments are bad per se, it's that they come at an inexplicable opportunity cost to the community. Have you looked around this city? They could have easily set up shop with no negative impact or even had a total net gain in several locations. But they decided to take some things away in the process, because they were somehow attached to that district. I just like to see Oklahoma City development move us forward with the biggest net gain instead of laterally.

I don't live in the neighborhood, but it would benefit Oklahoma City greatly if the people who lived here did think of the city as their backyard. The reality is that most people in the city don't give a crap what goes up where and what goes down for it to go up. In fact, most people wouldn't have cared if Wal-Mart did set up shop there.

Spartan
11-20-2006, 04:23 PM
BDP -- It's amazing in a way how much our opinion on this differs. My opinion is just that, my opinion, and it's worth about a grain of salt. I hate to break it to people like BDP and JBrown, but their opinion is also worth a grain of salt. I don't really think you can compare the upscale blah to the upscale wow that Chesapeake is building and wants to build more of.


I didn't say that, but he was being very adamant that EVERYTHING was being replaced.

Laredo's was going to be replaced. That was not Chesapeake's problem.

God forbid I be adamant about what IS and not piddle around with what ISN'T. Oh but we can continue to whine about the stores getting to build nicer locations, if you wish...

zuluwarrior0760
11-20-2006, 08:08 PM
I agree.

Chesapeake gave Laredo's 600% of assessed value.

For them to attempt and fail to create a new location with
that kind of windfall, even if the son didn't get ALL of it,
is something indeed.....

I think instead of "tell that to Laredo's", it oughta be:
"Have Laredo's Tell Us"

what happened that is.........

Patrick
11-22-2006, 06:40 PM
Chesapeake is giving everyone way more than market value. That's better than what OSU is pulling up in Stillwater.

Anyways, Chesapeake will continue to expand, but at the same time, I think they'll continue to increase the quality of product offered in the Western Avenue District. The new Pearls will be better than the old Pearls.

What are we really losing that's all that significant? The Wendy's wasn't a huge loss. And much of the land to the east has dilapidated buildings and homes on site. As Chesapeake expands, I have a feeling they'll improive the retail and mixed use developments in the area as well.

Pete
12-30-2006, 08:16 AM
I didn't realize they had purchased the Home Builders property... That's a pretty good distance from their campus and probably signals the end of a great meeting space.

Also, at what point do these journalists actually ask them questions about their plans??? It would be nice to see a map plotted with all their properties. I did a search on the county assessor site and came up with over 200.

********************
Let's Make a Deal
Chesapeake plays Monopoly rounds with property

By Richard Mize
Real Estate Editor

Chesapeake Energy Corp. stuck to its quest to own or control the neighborhood around its booming corporate campus in 2006 with almost 50 transactions worth more than $80 million, county records show.

Not all were near company headquarters at NW 63 and Western Avenue.

Rather than one big transaction to capture the public's attention — such as the acquisition of the longtime family-owned Nichols Hills Plaza in late 2005 — this year Chesapeake turned heads by playing its own version of Monopoly.

The company bought, sold and traded property, from office buildings, retail centers, even single-family homes. It bought some real estate to use, some houses to tear down to make room for parking for its work force — 2,200 and counting — and some buildings it didn't need to trade for property it did want.

Not that the purchases were run-of-the-mill. Last fall, Chesapeake bought Hahn-Cook/Street & Draper, a funeral operation at 6006 NW Grand Blvd. since 1967, for $11.7 million, and Reserve National Insurance Co., at 6100 NW Grand since 1969, for $13 million.

Chesapeake is giving each company plenty of time to build new space, said Henry Hood, Chesapeake's general counsel.

Just last week, the Central Oklahoma Home Builders Association revealed that it had decided to sell Chesapeake its headquarters at 625 NW Grand, adjacent to some of the energy company's office buildings.

Two of the year's biggest purchases were acquisitions made away from Chesapeake's campus to have something to trade for property it did want closer by.

Chesapeake paid $1.8 million for Santa Fe Fitness & Racquet Club at 6300 N Santa Fe Ave., to swap it for the Knights of Columbus Hall at 6501 Classen Blvd., in another pair of autumn deals.

Earlier in the year, Chesapeake paid $1.36 million for Nantucket Office Building at 3232 W Britton Road to trade for the former TapWerks Ale House & Cafe at 5700 N Western Ave.

Chesapeake's real estate transactions can be complex, Hood said, and "banking property for trade is an important part of it.”

Owners of some of the properties Chesapeake wants aim to maintain their rent income and don't care what kind of property it takes, Hood said, explaining how retail and mixed-use property can come into the mix.

"For some others, location is everything and they have a personal stake in the property,” he said. "It has been a challenge. In fact, sometimes it's a three-way deal.”

Real estate concerns are a tiny part of Chesapeake's multibillion-dollar business, but property dealing is important to the company's goals for its corporate headquarters and surrounding north Oklahoma City neighborhood, said Tom Price Jr., executive vice president for corporate development.

"So many people are looking for property they can swap on a like-kind exchange,” Price said, referring to 1031 exchange transactions, which allow investors to exchange properties free of capital gains taxation under Section 1031 of the Internal Revenue Code.

For many such realty investors — and potential sellers to Chesapeake — property "in any area with some commercial viability on a major thoroughfare” is something Chesapeake might be willing to buy to trade, Price said. Chesapeake only buys property to trade when it knows a seller wants it, not "on spec,” he said.

Chesapeake has not been fully successful in its property quest.

The lessee of space for a Subway sandwich shop on NW 63, smack in the middle of Chesapeake's plans, has refused to let the energy company buy out his lease. He renewed it for five years just one month before Chesapeake closed on the strip center that used to be attached to the shop.

The owner of a veterinary clinic nearby also has dug in his heels, refusing to deal.

Such obstacles are rare for Chesapeake, which has developed a reputation for not only paying top dollar for the property it wants, but also for its willingness to find creative ways to satisfy sellers.

"There's no deal that can't be made if everybody is satisfied,” Hood said. "We don't like to take no for an answer. We like to make deals happen.”

Martin
12-30-2006, 06:59 PM
it would be nice to see a map plotted with all their properties.

now that sounds like a fun project... wish i had the time! -M

Pete
01-01-2007, 08:07 PM
I took a stab at plotting all the properites they own near 63rd & Western.

The different colors are used just to show they are all separate tracts acquired in multiple transactions.

They also own quite a few properties south of I-44 in the Western corridor and a few others around town that I'll plot later.

http://mysite.verizon.net/res17zef/chk1.jpg

The Old Downtown Guy
01-07-2007, 03:12 PM
Chesapeake is just finishing up on their seventh new on-campus building as well as a parking garage located to the east across Classen and they have seven or eight more buildings in various stages of construction and on the drawing board staged over the next few years as their growth continues. Most of this new construction activity will be east and adjacent to their existing campus and not crossing 63rd to the north. The have also purchased three or four other nearby office buildings that they are remodeling and moving in to as the existing tenant's leases expire.

They are a powerful force for growth but there is a potential for some negative impact as they expand their campus and become more of a player in real estate development that isn't directly related to their energy business. Every thing they do, will be done well but the certainty of great change in the area is a bit scary for sure.

Pete
01-07-2007, 03:50 PM
If nothing else, they are adding serious density to an area that had until recently been a few little scattered businesses and small houses.

The map I posted does not show all the property they own north of 63rd, as there is quite a bit north of 67th as well in addition to the 10 or so larger tracts I illustrated. Most if it is along Classen and not Western, so that would indicate it would probably not be retail oriented.

And as the crow flies, the property they own north of 70th is more than a mile away from their holdings along I-44. They now own the large majority of what is almost a square mile in that part of town

Pete
01-12-2007, 09:08 AM
Was really glad to see this news... This swim club has been around for decades and is currently very strong. I've known lots of kids that have gone through this program and it's a real asset to OKC. Thanks to Chesapeake for stepping up; just one of many great gifts to the city:




Swimming: Chesapeake now club's sponsor


By Matt Patterson
Staff Writer

One of the nation's most successful swimming clubs has a new sponsor.

Chesapeake Energy officially took over sponsorship of the Kerr-McGee swim club Thursday during a ceremony at Chesapeake's headquarters. Kerr-McGee had sponsored the swim club for 43 years, but its commitment ended when the company was sold late last year.

The club began in 1956 when the only available pool to the Oklahoma City swim club was located in the basement of the Kerr-McGee Center. Swimmers trained there for several years until the company took over sponsorship in 1963. Today, about 240 swimmers are part of the club.

"Their commitment picks up where Kerr-McGee left off after 43 years,” coach John Brown said. "Chesapeake taking the sponsorship allows us to continue to help athletes achieve their goals.”

Money from the sponsorship goes to pay for a variety of expenses.

"We're able to keep our fees low,” Brown said. "It also helps us with travel and it helps us maintain a professional coaching staff.”

Kerr-McGee has won 16 state championships and produced a number of swimmers who went on to excel. Trip Zedlitz began swimming with Kerr-McGee at age 6, and went on to earl gold medals in the 1989 Olympic Festival. Zedlitz also swam at Stanford University.

"It was a natural and exciting extension of the commitment to support one of the most accomplished swim clubs in our nation,” Chesapeake Energy CEO Aubrey McClendon said. "We thank Kerr-McGee for the years of supporting some of Oklahoma's finest athletes and scholars. We also applaud the members of the new Chesapeake Swim Club for their years of dedication and commitment to the sport and look forward to a winning partnership.”

Pete
04-18-2007, 09:13 AM
Wow, they really must be running out of space on their campus.

*******************


OKCís Chesapeake Land Company purchases IBC Bank headquarters building

http://www.okcbusiness.com/images/photos/IBC-Bank.jpg

Pamela Grady
4/17/2007

Price Edwards & Company announced today Chesapeake Land Company LLC has purchased the Oklahoma headquarters building of IBC Bank located at NW 63 and Lake Hefner Parkway for $5.4 million.

Built in 1980 and renovated in 1998, the 70,000-square foot property contains nearly 11 acres that provides the potential for future development.

The transaction also included a lease for IBC Bank to remain in approximately 36,000 square feet in the lower level and first floor of the building.

Chesapeake will occupy the top two floors of the building. IBC Bank was the sole tenant at time of sale.

Craig Tucker and Cordell Brown of Price Edwards & Company represented IBC in the sale. Capitol Abstract handled the closing.

jbrown84
04-18-2007, 09:23 AM
They really need that office space? Wow. Build a tower downtown already.

Pete
04-18-2007, 09:44 AM
It could be this is more of an investment for future development, what with the adjoining 11 acres.

They may just be planning to house employees there until they finish more construction.

But it seems they can't build enough 3-5 story buildings to keep up with their office needs. And as previously mentioned, even on their core campus these buildings are starting to be pretty spread out.

Past a certain size, a low-slung office park ceases to make sense, as it becomes too much of a chore to move from one building to others without a car. In the Silicon Valley, they often have loaner bikes scattered around their bigger one-company developments, but I don't see that happening at 63rd and Western, especially across busy streets.

If anything, they should consider moving a good deal of the surface parking (still tons of it between most the buildings) below ground or to a nearby structure and infill those areas with more offices.

jbrown84
04-18-2007, 09:52 AM
They are already building a parking garage. I'd like to see more parking garages and some of that surface parking replaced with taller midrises.

Pete
04-18-2007, 10:13 AM
I realize they are building a parking structure but all the new construction is on the periphery of the current development. They are building out concentrically which means the far ends of the campus are continuing to be further and further apart.

It's simply not efficient -- or realistic -- to have people walking half a mile through all types of weather to go to a meeting. The whole point of such a development is synergy and I'm sure that's already breaking down due to the sprawl.

jbrown84
05-22-2007, 12:23 PM
A friend of mine knows the owners of Crescent Market and they told her that Chesapeake plans to tear down the south (older, cooler) section of Nichols Hills Plaza and build an office building with ground floor retail.

I really hope this isn't true.

Patrick
05-22-2007, 07:58 PM
A friend of mine knows the owners of Crescent Market and they told her that Chesapeake plans to tear down the south (older, cooler) section of Nichols Hills Plaza and build an office building with ground floor retail.

I really hope this isn't true.

That would be a tragedy.

john60
05-22-2007, 11:32 PM
I've heard somewhere that they actually plan on keeping it as a shopping district--maybe with lofts or office on upper floors, but definitely a strong retail presence on the ground. I think there was a long range plan done--called Nichols Hills 2020 or something like that....I could not find it, but I remember seeing it a few months back either in the Oklahoman or online somewhere.

I think completely revamping nichols hills plaza may be in everyone's best interest. Right now it has some pretty weak tenants compared to what a brand new plaza could have. Nichols Hills Plaza has the potential to be a Utica Square (or better, like Highland Park Village in Dallas), but it can't be that right now. In its current physical state, there is absolutely no way it can draw top-notch retailers. I dont know how bad that would be if Chesapeake/McClendon/Nichols Hills...whoever owns that place built a really incredible NEW Nichols Hills Plaza--I think the potential there is HUGE, and maybe its not a horrible thing to move on.

John
05-23-2007, 02:09 AM
Whatever Chesapeake does with Nichols Hills Plaza will for sure be for the better...

The reason they bought it was to have a say in the quality of tennant and to keep it up to date. More of a quality of life issue for the company and it's employees and the surrounding residents.

Pete
05-23-2007, 08:01 AM
It is true that that is the one area of town that could support a Utica Square type development. It's never going to happen in Edmond or Norman.

However, we can't all just assume whatever CHK does is going to work out great. The area is already unique and has character -- one of the few in town. They need to be very careful and are not experienced retail developers. Even if their intentions are good, I'm going to get very nervous if they change too much more in that area.

They've already driven out some retail and restaurants in favor of office space.

jbrown84
05-23-2007, 08:10 AM
Nichols Hills Plaza has the potential to be a Utica Square (or better, like Highland Park Village in Dallas),

Yeah, so lets just bulldoze the thing. You know, because it could use a little paint maybe, or some new awnings, but that would be such a waste. BRING IN THE WRECKING BALL. This area is completely lacking in charm and character like Utica Square. We gotta start over with some nice, gleaming EIFS.

CuatrodeMayo
05-23-2007, 09:47 AM
Do not dare to speak of the evil building material in my presence. That crap is the WalMart of building materials. The world would be a better place were it not for styrofoam buildings.

Preservation, people, preservation...unfortunatly in OKC newer buildings are not always better buldings. Use what is there.

jbrown84
05-23-2007, 10:54 AM
Preservation, people, preservation...unfortunatly in OKC newer buildings are not always better buldings. Use what is there.

Thank you! I can't believe there is anyone here in favor of tearing it down to build an office building with some ground floor retail.

Patrick
05-23-2007, 11:09 AM
I'm with you jbrown. I think tearing down Nichols Hills Plaza would be a tragedy.

CuatrodeMayo
05-23-2007, 11:32 AM
Here is some NC masterplanning ideas from the inferior school of achitecture in Oklahoma.

City of Nichols Hills - 2020 Comprehensive Plan Concepts (http://www.nicholshills.net/Page.asp?NavID=275)

jbrown84
05-23-2007, 11:43 AM
I like that concept of infilling the parking lot with additional buildings, but there is NO reason to tear anything down.

Pete
05-23-2007, 08:21 PM
Chesapeake Energy leases 30,000 square feet of additional office space

http://www.okcbusiness.com/images/photos/LakepointeChesapeake.jpg

Chesapeake Energy Corp. will be leasing 30,000 sqaure feet of office space in the Lakepointe Towers. Photo/Shannon Cornman

Pamela Grady
5/23/2007

Price Edwards & Company confirmed today Chesapeake Energy Corporation has leased two full floors at Lakepointe Towers, 4013 NW Expressway.

The 30,000-square foot space will house additional employees not located at Chesapeakeís corporate campus in the NW 63 Street and Western Ave. area.

Craig Tucker of Price Edwards & Company negotiated the transaction on Chesapeakeís behalf.

The transaction was finalized 16 days after the initial building tour.

James F. Cotter owns Lakepointe Towers.

Patrick
05-23-2007, 08:35 PM
Sounds like Chesapeake can't build the buildings fast enough on their own campus.

John
05-24-2007, 03:33 PM
I was amused while looking over my Annual Report from CHK at the listings of hirings from 1989 to now.

Pretty impressive for a company that started out with 4 people.

I still think they could build a tower downtown to house certain divisions of the company. They're already spread out across the city. Keep building up the main campus, but when you add upwards of 2000 employees a year (as was the case in '06, you can't build fast enough...

metro
05-25-2007, 07:28 AM
Maybe they're trying to cannibalize the suburban market and eat up all the vacant space so the only quick option for others is downtown?? Like others, I sure wish Chesapeake would just build a tower, they definitely have the money unlike other companies. I guess we'll find out sooner or later.

Pete
06-28-2007, 07:28 AM
Thu June 28, 2007
Chesapeake buys out longtime cafe holdout

By Trisha Evans
Business Writer

The Subway restaurant near NW 63 and Western Avenue in Oklahoma City no longer is a thorn in the side of Chesapeake Energy Corp.


The lone holdout on the energy company's development along NW 63 closed last week.

"There was a gentleman that made a lot of money, and he is going to relocate his Subway to another location with his pockets full of money,” said Tom Price Jr., senior vice president for corporate development.

Price said the company bought out the lease but, citing a confidentiality agreement, refused to disclose how much Chesapeake paid.

"There are other people in the area that we make deals with too, and we don't want for that to set the trend for all subsequent deals,” he said.

The offer to buy out the sandwich shop's lease has been on the table for several months, he said.

"We'd gone back and forth. ... He wanted us to pay him over and above what we had to pay to Subway. We tried for some time to find a point of equilibrium, and I think we've found the point.”

Subway franchisee Yogesh Mangu refused comment.

Price estimates the building will be torn down within the next month.

Another nearby restaurant also served its last meal this month. Longtime Oklahoma City eatery, The Original Varsity Sports Grill, 1120 NW 63, closed June 2.

The restaurant had been open for 19 years.

Chesapeake in 2005 bought the Glenbrook Centre East building where the restaurant was located.

Price is unsure why the restaurant closed but said it wasn't forced to leave.

metro
06-28-2007, 10:06 AM
I'm actually glad that Subway was bought, it was an eyesore as well as the whole shopping center that used to be there. I think in the end, we'll be happy with most of the Chesapeake developments.

Pete
06-28-2007, 10:20 AM
Of course, the journalist doesn't bother to ask about their plans for that site.

And no matter how you look at it, there has been a drastic reduction of restaurants in that immediate area (Laredo's, Pearls, Varsity, Subway, Wendys, etc.)

jbrown84
06-28-2007, 11:10 AM
Yeah, this is one thing I won't miss. And the way it was still standing after the rest of the strip had been torn down on both sides looked really trashy.

Hopefully they will put something really cool and iconic on the corner there. A big fountain or something.

OKC PATROL
06-28-2007, 11:14 AM
I was wondering when that guy/subway would pull out. Families in Nichols Hills found it to be funny because many of them know Aubrey McClendon as a friend. The campus he has created is great for OKC. My only draw back was when the campus had to destroy an old house/mansion. This had turned into some kind of female society meeting place. The facility was located on western behind that nasty shopping place with the liquer store and that disgusting salon/tanning. It had so many trees surrounding it that it was always hard to see when driving up western. The area is increasing in value with the construction/improvements he has done. The average house value has increased in Nichols Hills dramatically. Using sq feet some homes/mansions have risen to be some of the most expensive in the region.
I cant imagine his company having the wealth to create a downtown skyscraper along with his current offices. If he does, it will blow my mind. I feel he might develop a highrise in the Glenbrook establishment in time. He certainly wont be keeping that building.
Of course, he also owns Nchols Hills Plaza. This has drawn good and bad sentiment from the general public of OKC. I lived in NH for 20yrs on Grand Blvd. down the street from the Plaza. As a kid I became very familiar with NH Drug and Crescent Market. Many before me came to eat at the old soda fountain and many memories will be lost because of the demolition of the current structure. But, the previous owners were not keeping up with the constant upgrades and general beautification of the neighborhood. So much money came in because of urban renewal that many residents of NH had to fight off new comers. Because they were dividing land and destroying old smaller homes to build new huge ones. So the money factor coupled with "we want the best shopping in oklahoma" lead to a general conclusion by the community that the Plaza needed a remake. Many feel that Aubrey will make good decisions regarding the Plaza, because he loves NH and only wants the absolute finest shopping in Oklahoma. He wants to rival Highland Park and forget about Utica Sq. He has already secured Sprinkles as a tenant along with some kind of grocery store that is supposed to be one of the best. He is supposedly going to try to keep NH Drug and Fountain kinda the same by using the same old fountains/tele booth and interior. But that is still up in the air. Also, The Coach House will not be touched. Many locals are looking forward to what will happen with the Plaza. I dont think Aubrey will make any bad judgement calls on his own turf. Securing a tenant like Sprinkles is huge especially before any sort of ground breaking.
So I will miss the old red carpet in Crescent Market, along with the smell of its BBQ in the front entrance and the wonderful dusty throne. The feeling of comfort that NH Drug gave me as a child and as an adult. But the Cathy Cupboards and the Madison shops are gone now. Its time to move forward.

jbrown84
06-28-2007, 12:01 PM
If he wants to tear part of the Plaza down, he should tear down the north section. It has much less character and none of the icons like Coach House, Crescent Market, etc. I will be VERY upset if they tear down the older, south section.

trison
06-28-2007, 12:05 PM
I think it would be a tragedy to take any of the buildings down. That property is absolutely amazing and looks great. I wish they would try and save the buildings that they are buying. It's been proven that you can renovate older properties and still maintain the charm of the area.

OKC PATROL
06-28-2007, 12:25 PM
I have ALWAYS believed in keeping older buildings. I hate the destruction but the south section isnt historical and you cant build up on it. It has a great look- but there is NO absolutely amazing about it. . I think it will be best for the NH community to have more retail and some business on a second or third level in the Plaza. It needs to thrive and the current structures cant handle the expansion. Anyway it is a catch 22 situation or whatever for most people

Karried
06-28-2007, 12:30 PM
Anyone have any photos?

jbrown84
06-28-2007, 12:36 PM
I have ALWAYS believed in keeping older buildings. I hate the destruction but the south section isnt historical and you cant build up on it. It has a great look- but there is NO absolutely amazing about it. . I think it will be best for the NH community to have more retail and some business on a second or third level in the Plaza. It needs to thrive and the current structures cant handle the expansion. Anyway it is a catch 22 situation or whatever for most people

I'm absolutely baffled as to why you would tear down the south section as opposed to the north section.

OKC PATROL
06-28-2007, 12:56 PM
No- I would rather keep the south section obviously. The north I could care less. If I had my ultimate wish for the plaza it would be to keep the south section and build up and renovate. But what do we do with the north section? Aubrey would not only have to blend in the renovation on the south. He would also have to build a whole north section that would need the same materials that the south section has. That is asking quite a bit from the man. Our expectations cant be that high. It hurts but the pain will go away.

okclee
06-28-2007, 01:10 PM
Sprinkles ??

Is this the Sprinkles, you are referring to?

::: Sprinkles Cupcakes Locations ::: (http://www.sprinklescupcakes.com/locations.html)