RDAG ordered to pay $349k in rent by tomorrow for Mitsubishi location

RDAG ordered to pay $349k in rent by tomorrow for Mitsubishi location
(Source: Jason Norton KCBD)

LUBBOCK, TX (KCBD) - Eighty Second Street Investments LLC and Lubbock Windmill Real Estate LLC have filed court documents that orders the Reagor-Dykes Auto Group to pay up or move out. This comes after the property owners asked RDAG to vacate its Mitsubishi dealership on 82nd Street earlier this month for not making a timely payment.

According to court documents, the $30,000 installment of rent was due on Feb. 5, but was not paid until Feb. 7.

RDAG still owes post-petition rent through Feb. 2019 in the amount of $235,000 and property taxes in the amount of $114,414.58. The total, $349,414.58 is due on or before Feb. 28, 2019. The court documents say if a payments is made on March 1, 2019 or before March 5, 2019, the amount will be $351,553.14.

If RDAG fails to timely pay, their lease will be rejected and the premises will be vacated and the property will be immediately surrendered to Eighty Second Street and Lubbock Windmill.

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