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Regus loses appeal in $90 million lease dispute with Vornado over San Francisco space

Laura Waxmann
·3 min read
Regus loses appeal in $90 million lease dispute with Vornado over San Francisco space

An appeals court has ruled against Regus PLC in its dispute with Vornado Realty Trust over a lease the co-working company signed in 2109 but later terminated at the 555 California St. complex in San Francisco. The Tuesday ruling from a three-judge California Court of Appeals panel means that IWG PLC — a British holding company that owns the Regus brand —said that Vornado is entitled to costs on appeal. Regus filed the appeal in 2021 claiming a trial judge had improperly interpreted its lease agreement with Vornado (NYSE: VNO) for the podium space at 345 Montgomery St., sometimes dubbed The Cube.

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