Comstock Update 11/08/24

Comstock Partners, LC initiates Collection Proceedings Against Kimley-Horn and Associates, Inc. for $25 Million

Comstock Partners, LC, a leading operator of mixed-use and transit-oriented properties in the Washington, D.C. region, announced today that affiliate CRS Commerce Center, LC, as landlord of approximately 500,000 square feet of commercial office buildings in Reston, Virginia (the “Premises”), initiated collection proceedings against its tenant Kimley-Horn and Associates, Inc. CPLC seeks damages of $25 million as a result of Kimley-Horn’s failure to pay full amounts due under its commercial lease.

CPLC is aware that Kimley-Horn filed a counterclaim that alleges the existence of certain deficiencies in the Premises. Kimley-Horn alleges that these deficiencies excuse its failure to pay rent.

CPLC strongly denies Kimley-Horn’s allegations. Notably, no other tenants or persons utilizing the Premises corroborate Kimley-Horn’s allegations. To the contrary, the Premises are situated in an EPA Energy Star and BOMA Performance Program certified building. Both certifications require, among other things, standardized indoor air quality testing, which CPLC regularly has performed as part of CPLC’s commitment to provide a safe, clean, and healthy environment for all occupants and visitors, including Kimley-Horn.

Although CPLC intends to vigorously defend against all allegations to the contrary, CPLC remains hopeful that this dispute will be resolved amicably.

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