WeWork has settled its lawsuit against The Meridian Group, where it sought out almost $7 million in tenant improvement costs.
The lawsuit stated that the Bethesda-based landlord promised a construction allowance of up to $9 million for its 66,529 square foot Washington D.C. building to WeWork. However, WeWork stated that Meridian refused to pay the allowance after it submitted claims to be reimbursed.
On October 30, both parties jointly filed a stipulation of dismissal in D.C Superior Court, but did not disclose any specifics of the settlement.
This settlement calms the waters between Meridian and WeWork, who have an extensive relationship that goes beyond this D.C. location.
The two firms partnered on an acquisition of another D.C. location on New Hampshire Ave. NW for $136.5 million. However, WeWork has seemingly put its portion of the space up for sublease.