Chesapeake empire marches on

[OKCTalker]

Pete (or anyone): Can you provide an updated estimate of CHK's local office space and employment numbers?

Total number of local employees.
Total square footage of office space.
Total cost for the real estate (land & improvements).

That should provide an "apples-to-apples" comparison with Devon, Sand Ridge and Continental, and what they pay to house their employees.

[Pete]

For Chesapeake:

• 4,000 OKC-area employees as per the Chamber (2,600 for Devon)
• 2.7 million in office space built, purchased or under construction -- if they build out to Building 28 shown on their last master plan, that would be about 5.2 million square feet total. Keep in mind they own about 1 million sq. feet that isn't on their campus.
• About $1 billion invested in real estate thus far, including Nichols Hills Plaza, Classen Curve, etc. However, they are still putting lots of money into the buildings they have acquired and seem to be poised to spend a bunch at NHP as well. Also to build through Building 28 -- about 15 more structures -- that would be about another $.5 billion.

[metro]

betts, what do you hear about NH Plaza in general?

And have you heard anything about the tenants for the building next to Anthropologie??

I won't be surprised if its Urban Outfitters, since we know they are looking at the market, and it's Anthropologies sister company.

[warreng88]

Drove by today and the 50th & western gas station is gone.

[Spartan]

I won't be surprised if its Urban Outfitters, since we know they are looking at the market, and it's Anthropologies sister company.

Do they commonly locate in the same building, particularly when they're the only tenants as well?

[Spartan]

For Chesapeake:

• 4,000 OKC-area employees as per the Chamber (2,600 for Devon)
• 2.7 million in office space built, purchased or under construction -- if they build out to Building 28 shown on their last master plan, that would be about 5.2 million square feet total. Keep in mind they own about 1 million sq. feet that isn't on their campus.
• About $1 billion invested in real estate thus far, including Nichols Hills Plaza, Classen Curve, etc. However, they are still putting lots of money into the buildings they have acquired and seem to be poised to spend a bunch at NHP as well. Also to build through Building 28 -- about 15 more structures -- that would be about another $.5 billion.

Do we know how much buildings 12-28 cost? (individually)

[Pete]

Do we know how much buildings 12-28 cost? (individually)

I've kept track of the building permits of everything that has been built or is under construction.

I've estimated the others based on similar size buildings they've already constructed.

They range from $10 million to about $30 million depending on square footage.

[Bellaboo]

Drove by this morning and counted 6 cranes on their campus.

[mrktguy29]

Drove by Lakeview Towers today and it looks like CHK is going with the same dark color along with the updated windows for these buildings like they did with the old IBC building and what has been done to 50Penn. The first pass I was like, wtf? The second pass I like it, dresses up the buildings.

[Pete]

Drove by Lakeview Towers today and it looks like CHK is going with the same dark color along with the updated windows for these buildings like they did with the old IBC building and what has been done to 50Penn. The first pass I was like, wtf? The second pass I like it, dresses up the buildings.

Photo from Metro:

[ljbab728]

Those buildings have always been very, blah. Anything will help.

[luke911]

Drove by Lakeview Towers today and it looks like CHK is going with the same dark color along with the updated windows for these buildings like they did with the old IBC building and what has been done to 50Penn. The first pass I was like, wtf? The second pass I like it, dresses up the buildings.

Those are actually the Atrium Towers, Lakeview Towers are over on NW Expressway.

They painted the north building on 4/23. They have most of the windows and trim replaced on the south tower. My company still occupies most of the north tower so I would assume they'll wait until we move out.

[mrktguy29]

Those are actually the Atrium Towers, Lakeview Towers are over on NW Expressway.

They painted the north building on 4/23. They have most of the windows and trim replaced on the south tower. My company still occupies most of the north tower so I would assume they'll wait until we move out.

Yes! Thanks for correcting!

[UnFrSaKn]

Chesapeake CEO McClendon To Give Up Chairman Position

Posted: May 01, 2012 9:30 AM CDT Updated: May 01, 2012 9:44 AM CDT
By Alex Cameron, Oklahoma Impact Team

OKLAHOMA CITY -

Chesapeake Energy announced this morning that Aubrey McClendon will be replaced as Chairman of the company's Board of Directors by a non-executive chairman. McClendon, one of the Chesapeake's co-founders, will stay on as Chief Executive Officer.

[Spartan]

I am going to say that these new revelations that have done major damage to McClendon do not bode well for the CHK campus project, which is largely McClendon's vision.

I'm going to also speculate that we may be witnessing the beginning of CHK imploding. This is not looking good at all.

[Pete]

The most important thing is that the company continues to employ thousands in OKC.

Beyond that, I wasn't excited about any of the development they had planned anyway.

If their campus plans stop going forward, what will OKC lose? Just a big grid of spread-out 5-story buildings that aren't open to the public anyway.


I was very worried about this happening when they were pulling down things left and right and had not put anything back for public use. At least we now have Whole Foods, Anthropologie and Classen Curve.

It's probably a good thing they haven't yet started in on NH Plaza or much of anything north of 63rd.

[ChargerAg]

I have thought it interesting that they haven't started any new buildings in the past couple of months. Even the NH plaza has slowed down. Not sure it is tied to anything or not. I am still wondering when they will finish out the whole foods shopping center. Are they still doing construction in that area?

[Pete]

Moved a bunch of posts to the Local Businesses forum:

http://www.okctalk.com/showthread.php?t=26031

Please keep this thread about CHK's real estate development; the other is for their business practices.


Thanks.

[Pete]

Building permit for CHK to build a "Collision Clinic" at 410 W. Wilshire.

They own that huge tract of vacant land at the SW corner of Wilshire and Hudson.

[Pete]

I've noticed what seemed to be an appreciable down-tick in Chesapeake buying smaller properties. Then I was able to string together some associations and realize they have just be doing so under a whole new slew of LLC's.

There is a separate one that has been buying the homes directly west of the old Salvation Army building they purchased in 2010.

You can see their ownership in yellow (assuming this is their LLC, of which I am quite sure); one hold out but all these acquisitions have been fairly recent. They spent $2 million for the Salvation Army and thus far about another $1.5 million on the adjacent homes.

That equates to about $1.3 million per acre.

[ChargerAg]

I've noticed what seemed to be an appreciable down-tick in Chesapeake buying smaller properties. Then I was able to string together some associations and realize they have just be doing so under a whole new slew of LLC's.

There is a separate one that has been buying the homes directly west of the old Salvation Army building they purchased in 2010.

You can see their ownership in yellow (assuming this is their LLC, of which I am quite sure); one hold out but all these acquisitions have been fairly recent. They spent $2 million for the Salvation Army and thus far about another $1.5 million on the adjacent homes.

That equates to about $1.3 million per acre.

Pete,
How do you track the buying selling of these properties?


That sure is some strange property to buy. I wonder if they would try and do another classen curve thing there.

[jdcf]

Thank you Pete for this cool find.

Sometime ago I thought some postings mentioned this location as a potential site for Container Store.

[Pete]

Believe me, it's not easy to track these things, especially since CHK is constantly creating new LLC's that are registered to people other than themselves.

As to how I know CHK is actually connected, let's just say I have my ways. But it takes a lot of time and effort to stay on top of this, which is obviously they way they want it.

[onthestrip]

Pete,
How do you track the buying selling of these properties?


That sure is some strange property to buy. I wonder if they would try and do another classen curve thing there.

Not a strange property, great corner but hard to make it work at 1.3mil an acre. But you know, it's Chesapeake, normal economics don't matter. It's also way to small for a large center like classen curve. I'm sure they plan on condemning that one dead end street once they have that final house.

You can find these records at oklahomacounty.org

[Pete]

You can find these records at oklahomacounty.org

But you would never know CHK was behind this or hundreds of other properties because they are not owned by anything with Chesapeake in the title.

They have attorneys create a bunch of different LLC's and that's where this gets very complicated.


I've had multiple reporters contact me because they have not been able to figure this out; that's how convoluted their dealings are.