Twitters successor claims Colorado landlord owes it nearly $6M

The company formerly known as Twitter is suing its Boulder landlord for alleged wrongful eviction and breach of an agreement under which the social media company said it is owed $5.8 million for improvements to the office space.

X Corp., the successor to Twitter, filed a lawsuit Wednesday in Boulder County District Court against Lot 2 SBO, the owner of the office space and a limited liability company related to Chicago’s The John Buck Company.  The property owner sued the social media company in May, claiming the company had not paid rent and didn’t respond to a default notice.

A judge gave the OK for law enforcement to evict the tech giant from its suites at 3401 Bluff St. in Boulder. The lawsuit by X Corp. said the landlord intended to go through with the eviction Friday even though the company told Lot 2 SBO that it wasn’t in default and would “pursue all legal recourse.”

Attorneys for X Corp. didn’t respond to questions Friday about whether the company had been evicted.

In its lawsuit, X Corp. said the Lot 2 SBO refused to uphold a lease agreement that called for the landlord to pay about $5.8 million in exchange for the tenant making millions of dollars in improvements. When the lease was signed in February 2020, the site was still under construction, according to the lawsuit.

X Corp. said a tenant improvement allowance specified that Lot 2 SBO would make a single lump sum payment of $5.8 million after the work was substantially completed on the suites, which totaled almost 65,000 square feet. The tech company said the work included excavation, construction of mechanical, electrical and plumbing systems and a full cooking kitchen.

But Lot 2 SBO didn’t disburse the money as required by the agreement “despite Twitter having sufficiently satisfied all conditions for payment thereof under the Lease,” the lawsuit said. Instead, the landlord claimed Twitter was in default for not paying taxes and expenses.

Twitter responded that it would invoke its right to apply the unused money in the allowance agreement to cover anything owed under the lease.

The John Buck Company didn’t return a request for comment Friday. BizWest first reported the lawsuit by X Corp.

X Corp. said it is seeking what Twitter is owed under the lease agreement, attorney’s fees, costs and expenses.

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