Balfour Beatty sues CIM Group over unpaid work at 2 California Plaza

Contractor claims CIM shorted it $500k for renovating the tower's lobby

TRD LOS ANGELES /
Sep.September 06, 2018 01:00 PM
CIM Group co-founder Shaul Kuba, Balfour Beatty CEO Leo Quinn, and 2 California Plaza

A contractor claims CIM Group failed to pay it more than half a million dollars for work at 2 California Plaza in Downtown Los Angeles.

Balfour Beatty, a London, U.K.-based contractor, alleges CIM Group is refusing to pay for 2015 renovation work on the 52-story tower’s lobby in violation of their contract. CIM, based in L.A., is claiming it is offsetting “against potential damages for water intrusion” caused by the work, according to a lawsuit filed in Los Angeles Superior Court.

In March, the two companies agreed to a $1.25 million payout to Balfour Beatty, even though Balfour Beatty’s attorney claims that was “less than the amount due” to the firm. CIM Group paid out a first payment of $716,200, but not the remaining $531,000.

On top of that amount, Balfour Beatty is seeking an additional $243,100 it claims it is owed but that wasn’t part of the total agreed to in March. Balfour claims that CIM Group released its right to dispute that it owed at least that much to Balfour when it signed the March agreement.

CIM Group has been shopping 2 California Plaza, since early 2017. The tower, which has 1.37 million square feet, was rebranded as [email protected] in late 2016 when City National Bank inked a 300,000-square-foot lease there.

Balfour and CIM Group did not return requests for comment.


Related Articles

arrow_forward_ios
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

510 Park Avenue and CEO of Monster Beverage Rodney Sacks

Monster Beverage affiliate guzzles down industrial project in San Fernando

arrow_forward_ios
Loading...