Simsbury Turnpike Realty Co. v. Great Atlantic & Pacific Tea Co.

The plaintiff has appealed from a judgment granting the named defendant’s motion for summary judgment. The facts are as follows: In 1968, the plaintiff agreed to lease real property to the defendant, The Great Atlantic and Pacific Tea Company, Inc. (hereinafter A&P). In return, A&P agreed to pay a fixed monthly rent and an annual percentage rent equal to one and one-quarter percent of all sales in excess of $2.8 million to be paid on or before the thirtieth day following the close of the “lease year.” A&P subsequently sublet the premises to the defendants Torna, Inc. and A-G Foods, Inc.…