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K-BAY PLAZA, LLC v. KMART CORPORATION

13757, 105751/09.

132 A.D.3d 584 (2015)

19 N.Y.S.3d 32

2015 NY Slip Op 07905

K-BAY PLAZA, LLC, Respondent-Appellant, v. KMART CORPORATION, Appellant-Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided October 29, 2015.

Under a lease dated as of November 18, 1993, the predecessor-in-interest of plaintiff K-Bay Plaza, LLC (Landlord) agreed to lease space in the Bay Plaza shopping center in the Bronx to defendant Kmart Corporation (Tenant) for an initial term of 25 years, followed by renewal periods totaling approximately another 24 years. The parties subsequently agreed that the term of the lease would commence on November 14, 1994.

When the lease was executed, the building Tenant...

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