OKLAHOMA CITY — Love’s Travel Stops & Country Stores, headquartered in Oklahoma City, announced today the purchase of three corporate buildings located at N.W. 63rd Street and the Lake Hefner Parkway in Oklahoma City.
The buildings, purchased from Chesapeake Energy Corporation, offer a combined square footage of 227,000 and will accommodate the continued growth of the privately held, national travel stop company.
The sale closed on Nov. 8.This transaction follows the recent dedication of a new 68,000 square foot, three-story building at Love’s corporate campus in northwest Oklahoma City.
“We've been in business at Love's for nearly 50 years from our home base of Oklahoma City, " said Greg Love, President of Love's Development Companies.
“The purchase of these three buildings is in line with our strategy to add space relative to the steady pace at which we grow. On average, Love's adds 20 new travel stops across the United States each year. As our retail footprint expands across the country, the need for additional corporate support increases to sustain our high level of operational efficiency and customer service.”
“We have tremendous admiration for Love’s and their business, and we are very pleased with this transaction. The sale allows both companies to meet their business objectives — a win-win scenario for Oklahoma City,” said Gordon Pennoyer, Chesapeake Director — External Communications.
“When Devon moved its employees to the company’s new downtown building, other corporations quickly absorbed their vacated office space,” said Roy H. Williams, president and CEO of the Greater Oklahoma City Chamber. “We are seeing the same thing occur as Chesapeake’s employees move on campus. This sale showcases the strength of Oklahoma City’s office market and the exciting developments taking place at Love’s, one of Oklahoma City’s best corporate success stories.”
Founded in 1964 by Tom Love, Love’s Travel Stops & Country Stores is headquartered in Oklahoma City, and remains entirely family-owned and operated.
With more than 300 locations and 170 Love’s Truck Tire Care centers in 39 states, Love’s approximate growth rate is 20 stores per year. Love’s is currently ranked ninth on Forbes Magazine’s annual listing of America’s Largest Private Companies.
To learn more, go to www.loves.com.
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