Thrift Store Wasn't Qualified Replacement for Retail Tenant

July 2, 2012
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Facts: A shopping center tenant signed a 10-year lease with a five-year extension option. Under the lease, the tenant had the right to renegotiate the terms of the extension period, including the rental rate. At the time that the tenant signed the lease, the center included several large tenants, including a national clothing department store.

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