Tenant's Right of First Refusal Not Triggered by Management Agreement

March 31, 2008
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Facts: An owner leased six parking lots to a tenant. In turn, the tenant agreed to pay annual rent and manage the parking lots’ operations. The lease also contained a right-of-refusal clause, giving it the right, before any other tenant, to accept or reject any lease offers made by the owner at the end of the lease term.

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