The Hub office building at 3601 Walnut St. in Denver in September 2019. (BusinessDen file)
Another Denver landlord has sued WeWork.
The owner of RiNo office building The Hub, at 3601 Walnut St., sued the beleaguered New York-based coworking firm on Friday, nearly three years after WeWork shuttered its operations in the building.
MCP HUB I Property LLC, an affiliate of Metlife Investment Management, accused the company in the case filed in Denver District Court of breaching its lease by failing to pay rent.
WeWork declined to comment on the litigation.
This is the second active lawsuit against WeWork filed by a Denver landlord. The owner of The Lab building at 2420 17th St. sued WeWork in July, shortly after the company closed its coworking space there. That litigation is ongoing.
According to the latest lawsuit, WeWork’s lease at The Hub began in mid-October 2018, around the time the building was completed. The firm took the 45,000-square-foot fifth floor.
The lease expires in spring 2034, according to the lawsuit. But in February 2021, WeWork closed its location at The Hub along with three others, saying it had to ‘rightsize’ its Denver footprint. (One of the other locations was at The Lab, which WeWork reopened months later only to close again this year).
According to the landlord, a “guaranty of lease” that WeWork signed in 2018 “guaranteed the full and prompt performance of the Lease—including payment under the Lease up to a certain ‘Maximum Guaranteed Amount.’” The lawsuit doesn’t specify that amount.
That guaranty was later amended in May 2021, months after WeWork closed the location, according to the lawsuit. But the landlord said WeWork has since breached the terms.
WeWork surrendered possession of the premises on July 28 of this year, according to the landlord. The lawsuit seeks an unspecified amount of damages.
Attorneys Patrick G. Compton and Alexia C. Chapman of the Denver office of Ballard Spahr are representing the landlord in litigation.
By mid-2019, WeWork had leased some 850,000 square feet across a dozen Denver buildings. But the company, which worked last month of “substantial doubt” regarding its ability to stay in business, now operates in about 300,000 square feet in the Mile High City.
The company has five Denver locations still operating, as well as one in Boulder. In recent months, in addition to closing in The Lab building, WeWork has struck deals to reduce its footprint in the Wells Fargo Center and Tabor Center buildings.
The Hub office building at 3601 Walnut St. in Denver in September 2019. (BusinessDen file)
Another Denver landlord has sued WeWork.
The owner of RiNo office building The Hub, at 3601 Walnut St., sued the beleaguered New York-based coworking firm on Friday, nearly three years after WeWork shuttered its operations in the building.
MCP HUB I Property LLC, an affiliate of Metlife Investment Management, accused the company in the case filed in Denver District Court of breaching its lease by failing to pay rent.
WeWork declined to comment on the litigation.
This is the second active lawsuit against WeWork filed by a Denver landlord. The owner of The Lab building at 2420 17th St. sued WeWork in July, shortly after the company closed its coworking space there. That litigation is ongoing.
According to the latest lawsuit, WeWork’s lease at The Hub began in mid-October 2018, around the time the building was completed. The firm took the 45,000-square-foot fifth floor.
The lease expires in spring 2034, according to the lawsuit. But in February 2021, WeWork closed its location at The Hub along with three others, saying it had to ‘rightsize’ its Denver footprint. (One of the other locations was at The Lab, which WeWork reopened months later only to close again this year).
According to the landlord, a “guaranty of lease” that WeWork signed in 2018 “guaranteed the full and prompt performance of the Lease—including payment under the Lease up to a certain ‘Maximum Guaranteed Amount.’” The lawsuit doesn’t specify that amount.
That guaranty was later amended in May 2021, months after WeWork closed the location, according to the lawsuit. But the landlord said WeWork has since breached the terms.
WeWork surrendered possession of the premises on July 28 of this year, according to the landlord. The lawsuit seeks an unspecified amount of damages.
Attorneys Patrick G. Compton and Alexia C. Chapman of the Denver office of Ballard Spahr are representing the landlord in litigation.
By mid-2019, WeWork had leased some 850,000 square feet across a dozen Denver buildings. But the company, which worked last month of “substantial doubt” regarding its ability to stay in business, now operates in about 300,000 square feet in the Mile High City.
The company has five Denver locations still operating, as well as one in Boulder. In recent months, in addition to closing in The Lab building, WeWork has struck deals to reduce its footprint in the Wells Fargo Center and Tabor Center buildings.
