A federal judge in Maryland upheld a ruling in favor of Walmart and Sam’s Club, collectively awarding the companies more than $2 million, after the court found the landlord breached the parties’ lease agreement by failing to issue notices to purchase or negotiate the sale of the properties after 10 years of having leased the building.
Chief U.S. Magistrate Judge Timothy J. Sullivan for the District of Maryland granted Walmart Real Estate Business Trust and Sam’s Club Real Estate Business Trust $1.3 million and $837,689, respectively, after the defendant, Quarterfield Partners, promised the companies an option to purchase their leased properties after 10 years. However, Quarterfield failed to issue the notices or negotiate the sale of the properties as required under the lease, in breach of the lease.
