OKLAHOMA CITY (Nov. 11, 2013) — Love's Travel Stops & Country Stores has purchased three corporate buildings in Oklahoma City from Chesapeake Energy Corp.
The buildings, with a combined 227,000 square feet of space, will accommodate the continued growth of the privately held national travel stop company. The transaction, which closed on Nov. 8, follows the recent dedication of a new 68,000-sq.-ft., 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."
Gordon Pennoyer, Chesapeake Energy's director of external communications, said "the sale allows both companies to meet their business objectives—a win-win scenario for Oklahoma City."
Founded in 1964 by Tom Love, family-owned and operated Love's operates more than 300 locations and 170 Love's Truck Tire Care centers in 39 states. The company said its approximate growth rate is 20 stores per year.