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CEO's Pending Departure Creates CRE Questions

OKLAHOMA CITY-Aubrey McLendon with Chesapeake Energy steps down April 1, as questions abound as to what will happen to the commercial real estate owned by the natural gas company.

By Amy Wolff Sorter | Updated on March 19, 2013

OKLAHOMA CITY-Aubrey McLendon, founder, former chairman and CEO of Chesapeake Energy Corp. announced his retirement earlier this year, effective April 1. While the leader will be stepping down in the middle of controversy and an SEC investigation, articles in the Daily Oklahoman point out that the commercial real estate market will definitely be impacted with the changes going on at the natural gas company.

According to a recent report issued by Grubb & Ellis/Levy Beffort, Chesapeake controls about 7% of the city’s office market, seemingly snapping up just about everything during the 200s. However, the Daily Oklahoman reports that the company has slowed its acquisitions and has even sold some of its commercial real estate assets at a loss.

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