Attention landlords: it may pay to study the case of the White Flint Mall and its redevelopment plan. According to Meghan Hottel-Cox and Timothy Watkins of Goulston & Storrs, the retail landlord was sued by its anchor tenant, Lord & Taylor, and lost—by a lot.
Back in 1975, the mall and the store entered into a long lease, lasting until 2042. The contract’s terms prohibited the mall from making any major changes without Lord & Taylor’s consent, explain the authors. But post-2008 recession, White Flint Mall said it was struggling and started redevelopment. Lord & Taylor requested $100 million in compensation for losses it claimed it would suffer during the renovations, but the landlord refused to pay. The store sued and won, with the jury awarding it $31 million in damages.
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