A district court judge has granted permission for an office property owner to evict Elon Musk’s Twitter Inc., from its space in a Boulder, Colorado-based complex.
According to a BizWest.com report, The John Buck Co. and Lot 2 SBO LLC, co-owners of the S’Park development, were granted permission to have the Boulder County Sheriff’s Office remove Twitter from the site. Twitter signed a lease for 65,000 square feet at S’Park in 2020 when the property was still under construction. Under the terms of the least, the S’Park owners were to receive a letter of credit for $968,000 in the event Twitter fell behind on its rent – and if The John Buck Co. withdrew money from that line of credit, Twitter was responsible for replenishing it within 10 days.
Twitter stopped paying rent at the property in March and no longer has a physical presence at the property. The company, under the leadership of Tesla (NASDAQ:TSLA) chief Musk, refused to replenish the funds in the letter of credit and was sued by The John Buck Co.
Twitter has a similar situation elsewhere in Boulder – last December, W.W. Reynolds Cos. began the eviction process against the company for a property it owned in the city. And a cleaning company in Boulder is also suing Musk’s Twitter for nearly $100,000 in unpaid bills.
Photo by Thomas Hawk / Flickr Creative Commons
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