Zillow to take over Dendreon RIC floors?

[Anonymous]

This was a rumor right after the Chap 11 announcement. But this story from last week (11/24) makes it sound like a done deal....

http://www.geekwire.com/2014/confirmed-zillow-lease-five-floors-downtown-seattle-hq/

 

[Anonymous]

You called it, "With the new office space, Zillow will become the largest tenant in the 42-story skyscraper, occupying floors 29 to 40 in the building."

 

[Anonymous]

"Floors 36 – 39. Landlord shall deliver possession of each of the New Floors other than Floor 40 to Tenant on the date on which the current occupant surrenders possession of that floor to Landlord provided that Tenant is not required to accept possession of any of the New Floors (other than Floor 40) prior to November 1, 2016. Landlord shall use commercially reasonable efforts to deliver possession of each of the New Floors (other than Floor 40) to Tenant as soon after January 1, 2017, as possible"

http://www.sec.gov/Archives/edgar/data/1334814/000119312514423348/d825574dex101.htm

 

[Anonymous]

Before anybody can rent the space now occupied by Dendreon, the company has to give the space up. A company in bankruptcy can walk away from an executory contract, such as an unexpired lease, but that decision has not been made as the buyer of the assets may want to keep the office space intact.

Meanwhile, the landlord cannot cancel the lease and evict Dendreon without specific approval of the court, and no petition has been filed in the court to that effect.

 

[Anonymous]

Who cares?!? Commercial left two years ago to Jersey!