Chesapeake empire marches on

[Jethrol]

Am I the only one that shakes my head in wonder at this kind of thing? (if true, a big if) A few years ago that was a full, thriving building with good tenants, retail, etc. I'm not saying it was the greatest place in the world, but I don't understand why they would buy that, empty it out, and tear it down when they have all that open land east of the campus. It sure will be interesting to see how this all plays out...I'm sure somewhere there's a plan.

I'm not sure I get what you mean? They tore down a lot of buildings to build the main campus. Most of those people have sold at HUGE profits and in the case of pearls and others, they've rebuilt new buildings close to the same locations (i.e. under a mile away). All this is good for OKC.

Not to mention CHK built the Classen Curve which brings in a whole new crop of stores. Add to that a new Whole Foods market and it seems to me that while it's not an immediate replacement for what was there, it's setting up that area for HUGE growth potential for the future.

Your post almost seems like you're against progress, new construction, new shops, a change in focus and those sorts of things. Is that really what you're trying to say or am I confused?

[stlokc]

You misunderstood me, or maybe I was being unclear. I am most definitely NOT against progress, new retail, new construction, or new purposes for old spaces. I think the majority of what CHK has done is good for the area. I was just curious why they would spend the money to buy and tear down a perfectly viable structure that is marginally further from the core of their campus rather than build on virgin land to the east. It must have to do with their overall campus plan. An innocent question, I should have said "scratching my head" rather than "shaking my head."

[Jethrol]

I was just curious why they would spend the money to buy and tear down a perfectly viable structure that is marginally further from the core of their campus rather than build on virgin land to the east.

lol...virgin land. To the East it had buildings and houses there also but yeah, compared to W of Western, it was virgin. Marginally further from the campus tho? Well if anything, CHK has proven that their campus is going to expand significantly in the coming years. We're already seeing this with more buildings to the East.

It must have to do with their overall campus plan. An innocent question, I should have said "scratching my head" rather than "shaking my head."

No worries and yeah that makes sense unless you factor in that they have plans for everything East already. We've yet to see everything completed and they continue to start projects while trying to wrap up other projects. i.e. still not done with the glass building, new parking garage, child care center and they've already carved out the pit for bldg 14. Not to mention the Whole Foods store, Central Park, and bldg 12 are all still under construction. The pace of their construction is such that they must have a steady supply of "ready" space in which to start new projects.

Who knows....perhaps they're also clearing the land to help entice new businesses such as Whole Foods and such.

The thing I like is that they're not afraid to think big, really big and make HUGE changes to the existing landscape of that part of the city. This is something we haven't seen here in OKC....at least I don't remember seeing it, not right inside the city. I love what I'm seeing in that area and can't wait till more things come "online".....traffic is going to suck balls around there tho.

[Pete]

The thing I like is that they're not afraid to think big, really big

Yep, you've got to give them credit for having a grand vision, patiently assembling properties and spending millions (probably now more like a billion) to do things on a very large scale.

I think everyone feels better now that they've actually built some things back to replace all the restaurants and shops that have been moved out of there.

Just hope things continue to go well for Chesapeake and they can see out everything they want to do.

[Jethrol]

Just hope things continue to go well for Chesapeake and they can see out everything they want to do.

They're doing very well. CHKM is their spin off company that just had their IPO. This company was started back in like 2004 and has quickly risen to one of the dominant midstream companies in the USA. It's quite an impressive feat but honestly, nothing surprises me anymore about CHK. Aubrey and company have proven that they should never be underestimated.

Here's more info on CHKM
http://www.chesapeakemidstream.com/P...formation.aspx

[dcsooner]

They're doing very well. CHKM is their spin off company that just had their IPO. This company was started back in like 2004 and has quickly risen to one of the dominant midstream companies in the USA. It's quite an impressive feat but honestly, nothing surprises me anymore about CHK. Aubrey and company have proven that they should never be underestimated.

Here's more info on CHKM
http://www.chesapeakemidstream.com/P...formation.aspx

Jethrol, or someone, can you take a minute and explain what is meant by midstream company? I do not really know what you mean, but, I am interested

[Chicken In The Rough]

Upstream: exploration and drilling
Midstream: transportation (pipelines, rail, trucking, etc.)
Downstream: refining & marketing

[dcsooner]

upstream: Exploration and drilling
midstream: Transportation (pipelines, rail, trucking, etc.)
downstream: Refining & marketing

thank you!!

[Jethrol]

Upstream: exploration and drilling
Midstream: transportation (pipelines, rail, trucking, etc.)
Downstream: refining & marketing

I actually put treating, refining, and marketing in the midstream but I can also make an argument that marketing is actually downstream. When I think of down stream, I think of companies that deliver to consumers, i.e. ONG but that would also include large industrial consumers.

[Pete]

The Glenbrook Centre East office building just north of the Whole Food site is being demolished, as you can see from a screen capture of the WF construction cam.

This seems to substantiate the rumor a few posts back about an impending demolition to be followed by the construction of a hotel.

They have cleared a lot of land around that WF site now.

[Pete]

If anyone happens to go by there soon, please take a mental note to see if the other Glenbrook Centre building (the 5-story structure directly west of the building being razed) is showing any signs of life.

It might be that that building is vacant too and could be coming down in the near future. CHK has cleared or is clearing every other structure in that triangle except the historical building on the SW corner of 63rd & Western.

[metro]

Drove by this morning, didn't pay attention. I will look on my way home tonight or possibly at lunch.

[Rover]

Go to this site and you can pan from the Whole Foods site and see the demo area and around it.
http://oxblue.com/pro/open/smithandpickel/wholefoods

[blangtang]

I saw 60 minutes last night and they had a story with Chesapeake. They were talking about rocks and drilling and some other stuff i didnt understand, then there were people whose drinking water had gas in it that could be lit on fire!

[Pete]

The 60 Minutes story was on extracting natural gas from shale. Aubrey McClendon was featured:

http://www.cbsnews.com/video/watch/?id=7054210n

[Pete]

You can see on the Whole Foods webcam that there are still lights on in the Glenbrook West building, as opposed to Glenbrook East which is certainly in the process of being demolished.

I would suspect that CHK is not renewing leases in the West building and that it will come down too within a year or so.

[bluedogok]

My dad worked in the Glenbrook East building for quite a few years before they moved to Britton & Broadway.

[Spartan]

Wow, now they're tearing down office buildings. If they take down all the Glenbrook towers this may confirm the possibility of them trying to include office space for the general public in their development as well.

[realtorchris]

The five story building is still occupied. Not empty, at least for now. I love this reworking of commercial space, and the changing landscape that Chesapeake is doing....What a chance to change the entire visual of an area!

[metro]

The only building occupied is the historical on the NE corner and the bank building on the NW corner, the others are being razed and are fenced off.

[Pete]

Metro, are you saying the Glenbrook Centre West building is fenced off as well?

I saw some lights on there just yesterday but of course, they could be doing demolition work inside.


BTW, that triangle of property bordered by 63rd on the north, Western on the east, Grand on the west and Classen on the south is pretty sizeable; about 30 acres. As a reference point, that's almost exactly the same size as Utica Square.

[okclee]

I thought someone had mentioned the Chesapeake Hotel going in at this location?

[Pete]

Yes, there have been rumors about a hotel on that site but there will be room for much more than just that and Whole Foods.

[realtorchris]

The white five story tower is not fenced off. I know people that work in that building daily.

[okclee]

Another piece of property for the Chesapeake Empire. This is the southwest corner of NW Expressway and Penn, across from Penn Square Mall.

Chesapeake Land Development Co. from Salvation Army, 5101 N Pennsylvania Ave., $2,000,000.

Read more: http://newsok.com/oklahoma-county-la...#ixzz15prkNNCY