Lawsuit erupts over lease-option purchase price

Tenant seeks arbitration to decide fair value
Published on Nov 1, 2006

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by CareyBot

Lipton-U. City LLC leased a large self-service storage building from Shurgard Storage Centers Inc. A provision in the lease gave Lipton an option to acquire the property. However, the lease-option did not specify the option purchase price. Lipton thought the ...