Economics
Chesapeake Fall Threatens Oklahoma Real Estate Fire Sale: Energy
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Chesapeake Energy Corp., whose $805 million investment in Oklahoma City’s land and buildings has helped reduce commercial real estate vacancies, threatens to collapse the market as it faces a cash squeeze and seeks to sell assets.
The second-largest U.S. natural-gas producer has spent $448.7 million to build a 120-acre (50-hectare) headquarters campus in the northwestern part of the city and an additional $356.7 million to develop three nearby retail centers and buy office buildings and more land, according to Peter Brzycki, a former Oklahoma City real estate broker who tracks the company’s properties.