Ysiem Corp. v. Commercial Net Lease Realty, Inc.
Court of Appeals for the First Circuit
1Opinion of the Court
BOUDIN, Chief Judge.
Ysiem Corporation (“Ysiem”) is a Puerto Rico corporation that owns a parcel of land in Rio Piedras, Puerto Rico. In late 1997, Ysiem inquired through a broker whether the office supply chain OfficeMax would be interested in building a store on a portion of the site. OfficeMax replied that it does not acquire or develop property itself; it will only lease (or sublease) sites that are fully developed. The broker put Ysiem in contact with Commercial Net Lease Realty, Inc. (“Commercial. Net”), a company that develops commercial properties that are then leased to major retail…
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