A company that planned to build a sports theme park near Universal’s upcoming Epic Universe theme park is suing Universal and a property development company for $250 million, claiming the company wrongfully sold the land to Universal in 2018.
Fourth Watch Acquisitions, which specializes in real estate entertainment development, alleges Universal City Property Management III breached a binding agreement made in September 2017 to sell 135 acres of land along Universal Boulevard to the company for $125 million.
The lawsuit, filed in Orange circuit court on Friday, says Universal interfered in the contract and bought the land in April 2018 to develop its new theme park. Fourth Watch Acquisitions stated the land was located between unconnected properties Universal already owned, and by buying it Universal hoped to “eliminate a competitive threat,” records show.
