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| quote: | Originally posted by Cool1g
Junior - I don't believe that correct.
their lease runs through 2012. there is an accelerated buyout clause starting next year this pays them i think $5 million to leave in 2007, dropping by $1 million each year as it gets closer to 2012.
i did hear that if they missed/were late on a certain # of rent payments that they would be in violation of the lease terms and have to leave early.
i don't know if the closure this week is due to them taking an early buyout or violating a lease term, but its definitely not due to a lease expiration. construction has already started on the W hotel around it so no doubt those guys want them out of there sooner rather than later. |
Well I work in commercial real estate here in the Corona-Norco market so i don't know the details on their contract. Just letting ya know what i've heard through well known dj's and producers out in this area of So Cal. 
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