Macerich, Whole Foods Make Nice
May 1, 2008 12:00 PM
The Macerich Co. and Whole Foods Inc. agreed to terminate the natural food grocer's lease of a 40,000-square-foot space at a property in Boulder, ending a three-month legal battle. Details of the agreement were not disclosed, but it was described as a “mutual termination of the lease agreement.” Whole Foods sued Macerich in December for not allowing it to sublease its space to The Sports Authority. In a letter to Whole Foods, Macerich denied the sublease because the proposed tenant is not a “specialty grocery store” as defined in the existing lease agreement. Macerich countersued in January saying Whole Foods improperly interfered with the opening of the Wild Oats store in July 2007, before it officially acquired the chain, thereby damaging the project.
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