Lifestyle Tenant Can Terminate After Cotenancy Requirements Not Met

August 29, 2010
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Facts: Construction of a lifestyle center comprised of condominiums, retail stores, and restaurants was going to be completed in three phases. A bookstore tenant signed a lease with the center's owner for retail space in one of the buildings that was not yet completed. Under the lease, the tenant was required to accept the space on the condition that a movie theater, four full-service restaurants, one of which had to be located on “Pad 37” of the property, and at least 50,000 square feet of specialty retailers were open and operating at the time it moved in.

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