Stahl Cowen’s client, a real estate developer, was sued after purchasing a $1 million outlot in a shopping center and constructing a build-to-suit bank building.
Although the seller of the vacant outlot had approved the developer’s construction plans, it waited until after the building was completed and then sued for injunctive relief claiming that the developer had violated certain deed restrictions by constructing its bank building to include a basement.
This case was tried by two Stahl Cowen attorneys, Michele Sibley Gonzales and Sarah Pace, during a two-week combined jury and bench trial.
The primary issue in both phases of the trial was whether the developer agreed to the “no basement” deed restriction on which the seller’s suit was based.
The jury said “no,” and awarded damages to the developer that included, among other damages, all reasonable attorney’s fees incurred to defend against the seller’s lawsuit, and to prosecute the developer’s counterclaim for breach of contract in order to secure the benefits of the parties’ written agreement.
The Court agreed with the jury’s conclusion and likewise found in favor of the developer.
The Court granted the developer’s request to reform the deed by declaring the unagreed “no basement” deed restriction to be “of no force and effect.”
The Court went on to deny all of the seller’s claims and its request for injunctive relief.
MEDIA CONTACT:
Lesley Smith, 312-377-7870
lsmith@stahlcowen.com
