A recent federal district court case in Georgia focused on shortcomings in a letter of intent and “non-shop” agreement between a shopping center owner and a prospective tenant.
In OfficeMax Inc. v. Gerald L. Sapp, (M.D. Ga. 2001), Gerald Sapp was developing a shopping center and entered into a letter of intent to build a store for OfficeMax Inc. The letter anticipated a 15-year lease between the parties, with options to renew. The leased space would be 23,500 square feet, but the exact configuration was made subject to OfficeMax’s review. The location of the space is not set forth in the letter, but it appears that the proposed site plan was included with the letter of intent. That plan was “subject to the review by tenant.”
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