McDonald Corporation v. Lebow Realty Trust

BOWNES, Circuit Judge.

In this diversity contract case defendants-appellants Lebow Realty Trust, et al. (Lebow) appeal from a summary judgment in favor of plaintiff-appellee McDonald’s Corporation (McDonald’s) ordering Lebow to sell to McDonald’s the real property occupied by it as lessee for a price of three hundred thousand dollars ($300,000.00).

I

At issue is the construction of two separate paragraphs in a lease between Lebow as lessor and McDonald’s as lessee. Paragraph 15 of the lease provides:

LESSEE’S RIGHT OF FIRST REFUSAL

first 10 years of the 15. If at any time during the first 10 years…