All articles tagged with #lease termination
The Trump administration has ended the 50-year leases on Washington's three public golf courses, citing alleged defaults, while the nonprofit managing the courses disputes these claims and aims to keep the courses open temporarily. This move is part of Trump's broader efforts to shape public landmarks in the capital.
The Trump administration has taken back control of Washington D.C.'s three municipal golf courses from the National Links Trust, citing lease default, and has halted ongoing renovation projects, while the Trust disputes the default claim and plans to keep the courses open for now.
Former President Trump is moving closer to taking control of Washington's public golf courses by terminating the lease of the National Links Trust, with plans to potentially renovate East Potomac Golf Links, amidst broader efforts to reshape landmarks and architectural projects in the capital.
The Buffalo Wild Wings in downtown Portland closed after the city terminated its lease due to unpaid rent following the closure of a parking garage above the business. The franchise owner claimed the closure of the garage, due to increased crime and lack of use, violated their lease agreement, but the city contended that the garage was not included in the lease. The business had missed $118,349 in rent payments since August, and the city terminated the lease, expressing hope to find a new tenant for the space.
Miami-Dade County is terminating the lease of the company running the Miami Seaquarium due to maintenance violations, with the company instructed to vacate by April 21. The decision was made for the safety of the animals, residents, and visitors, as the Seaquarium has failed to maintain its facilities and provide proper care for the animals. The advocacy group PETA celebrated the news, urging authorities to ensure the animals are sent to reputable facilities for the care they need.
Second Stage Theater, known for nurturing Pulitzer Prize- and Tony Award-winning shows, is leaving its Rem Koolhaas-designed Off Broadway theater in Times Square due to high rent and unfavorable lease terms after 25 years. The nonprofit theater company is committed to continuing its work Off Broadway and is searching for a new space, while also undergoing a leadership transition as its president and artistic director, Carole Rothman, is leaving after a 45-year tenure.
Australia's High Court has dismissed Russia's application for an injunction to prevent the eviction of its embassy from a site in Canberra. The emergency legislation passed on June 15 terminated Russia's lease on the block on security grounds because the new embassy would have been too close to Parliament House. The court described Russia's challenge on constitutional grounds to the law terminating the lease as "weak" and "difficult to understand." The current Russian Embassy in the Canberra suburb of Griffith is unaffected.
Groupon is terminating its lease for its Chicago headquarters two years early, paying a $9.6 million termination fee to end its commitment. The move comes as the struggling online-deal company risks running out of cash and warns investors that it may not remain a "going concern." The termination will create a big leasing challenge for developer Sterling Bay, which will soon be saddled with a big block of vacancy at a bad time to be hunting for new tenants.