Widgets Magazine
  • Chaparral Energy headquarters sells to local investment group

    Looking to shed more debt after emerging from bankruptcy in 2017, Chaparral Energy has sold its opulent headquarters building and adjacent land.

    Skybridge Ventures LLC, a local real estate investment group, closed on the purchase on Thursday, paying $18 million for the 150,000 square foot, 4-story office building and approximately 14 acres of property near Britton Road and Kelly in northeast Oklahoma City.

    Through the bankruptcy process, Chaparral rid themselves of $1.2 billion in debt. They had announced the intention to sell their headquarters in early August, thereby disposing of another $8 million in real estate loans.

    Chaparral will lease back 62,000 square feet, Skybridge will take 15,000 square feet, and the remainder will be leased on the open market.

    The building features a veranda overlooking a small lake in the center of the property.

    Skybridge will lease space at $21 per square foot, which will include access to the existing state of the art gym.

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