Stenke v. Masland Development Co., Inc.

The subject of this dispute is a lease with an option to purchase involving commercial property located on West Stadium Boulevard in Ann Arbor. Defendant-counterplaintiff Masland Development Company, the owner of the property, entered into a lease with Standard Oil Company, the predecessor in interest of defendant Amoco Oil Company, on February 14, 1958. Renewals of the lease effectuated continuance of the lease through July 17, 1983. On February 2, 1983, the tenant Amoco exercised its option to purchase the property, which was being used as a retail gas station. On May 12, 1983, Amoco…