OKCNP Announces Closure on Transformative Real Estate Gift from Chesapeake Energy

NEWS RELEASE
For Immediate Release
September 6, 2017
Contact: Josh Lunsford, Director of Communications
(405) 463-6886, Ext. 207

 

Oklahoma Center for Nonprofits Announces Closure on Transformative Real Estate Gift from Chesapeake Energy

OKLAHOMA CITY – Leadership from the Oklahoma Center for Nonprofits announced today that it had officially closed on a monumental real estate gift from Chesapeake Energy. In June 2016, the Center and Chesapeake announced the gift of a 65,000 square-foot complex on West Wilshire Blvd. in Oklahoma City. The Chesapeake Plaza is currently home to 28 nonprofit organizations.

Today, the Chesapeake Plaza is now under the full ownership and management of the Oklahoma Center for Nonprofits. Marnie Taylor, President and CEO of the statewide association, noted the two entities worked for more than a year to close the gift.

“While it has been more than a year since the announcement of the gift, the Center and Chesapeake worked hard to close a complicated real estate transaction to ensure that nonprofits would benefit for decades to come from the visionary work of Chesapeake’s leadership,” Taylor said. “This allowed both the Center and Chesapeake to engage in a year of further due diligence on easements, other property concerns and dedication of the street to the City of Oklahoma City.”

The Center has hired Price Edwards & Company to manage the property. Taylor said the Center will continue to operate the Plaza in the spirit of Chesapeake’s generosity with below-market-value lease rates for nonprofits along with shared spaces for convening and gathering.

“We want to especially thank the leadership of Chesapeake including Gordon Pennoyer, members of their legal team, Board of Directors and CEO,” Taylor said. “Additionally, we would like to thank Jim Parrack of Price Edwards & Company, our attorney Scott Spradling, our building task force chair Carlos Johnson and our Board of Directors for helping to guide this project to completion.”

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The Oklahoma Center for Nonprofits is the state’s preeminent leader in capacity building services for nonprofits including training, consultation and advocacy. The Center has more than 1,100 members and serves the nearly 19,000 nonprofits throughout Oklahoma. For more information, visit okcnp.org.

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