Case Conclusion Date:April 20, 2000
Practice Area:Real Estate
Outcome:Ground Lease was Modified
Description:MacDonald's executed ground lease for 20 years, after which it sought to purchase property under terms of lease. It submitted an appraisal nearly $200,000 less than the Plaintiff's appraisal. Litigation ensued. Matter was settled by extending the lease for another 10 years at a rent much higher then the previously agreed rent.