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 CityNational@2Cal 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.
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