Legal Opinion
Rite Aid Corp. v. Otis
Appellate Division of the Supreme Court of the State of New York
Decided November 21, 2012PublishedCited by 5 opinions
1Opinion of the Court
OPINION OF THE COURT
Egan Jr., J.
Petitioner is the lessee under a 20-year triple net lease of a free-standing retail pharmacy located near exit 11 of Interstate 87 in the Town of Malta, Saratoga County. A local developer purchased the parcel upon which the pharmacy is situated in 2004, entered into a build-to-suit arrangement with Eckerd Corporation—petitioner’s predecessor in interest—and thereafter constructed the 13,813-square-foot building at a cost of roughly $2.5 million. In August 2005, the developer sold the property to an income investor for approximately $3.6 million and, insofar as…
2Cases cited12 opinions
- FMC Corp. v. UnmackNew York Court of Appeals · 1998
- Allied Corp. v. Town of CamillusNew York Court of Appeals · 1992
- Niagara Mohawk Power Corp. v. Assessor of Town of GeddesNew York Court of Appeals · 1998
- Rite Aid v. Assessor of the Town of ColonieAppellate Division of the Supreme Court of the State of New York · 2009
- Eckerd Corp. v. SemonAppellate Division of the Supreme Court of the State of New York · 2006
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3Cited by5 opinions
- RITE AID CORPORATION v. HAYWOOD, STEPHENAppellate Division of the Supreme Court of the State of New York · 2015
- RITE AID CORPORATION v. HUSEBY, TERIEAppellate Division of the Supreme Court of the State of New York · 2015
- Rite Aid Corp. v. City of Troy Board of Assessment ReviewNew York Supreme Court · 2015
- Rite Aid Corp. v. HaywoodAppellate Division of the Supreme Court of the State of New York · 2015
- Rite Aid Corp. v. HaywoodAppellate Division of the Supreme Court of the State of New York · 2015