The landlord of Twitter’s San Francisco headquarters sued the social media company on Friday after it allegedly failed to pay almost $6.8 million in

Twitter sued by landlord at S.F. HQ after alleged $6.8 million in missed rent payments

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2023-01-24 02:00:06

The landlord of Twitter’s San Francisco headquarters sued the social media company on Friday after it allegedly failed to pay almost $6.8 million in rent in December and January.

SRI Nine Market Square LLC alleges that Twitter did not pay rent after being served with a notice of default in December and breached its lease in a suit filed in San Francisco Superior Court. The landlord said it drew from most of Twitter’s letter of credit security deposit of $3.6 million to satisfy the December rent payment, but Twitter still owes $3.1 million in unpaid rent from January.

The landlord is also seeking to increase Twitter’s line of credit to $10 million, based on a clause in its lease triggered by transfer of control of the company, but said Twitter has refused to do so. Elon Musk bought the company in late October for $44 billion.

The plaintiff is an affiliate of landlord Shorenstein and the JPMorgan Chase funds that own 1355 Market St., where Twitter leases 462,855 square feet of office space.