Our client, who owns and leases a number of commercial properties throughout the Phoenix-metropolitan area, filed suit against one of its former tenants for breach of a commercial lease agreement. The lease was for a term of five years.
About one year into the lease term, the tenant stopped paying rent and abandoned the premises. Our client sued for unpaid rent and late charges, plus future rent due for the balance of the lease term. The tenant claimed that it was entitled to damages of more than $100,000 for business losses incurred as a result of certain misrepresentations allegedly made by our client regarding anchor tenants in the same strip mall.
On the eve of trial, the parties stipulated to the entry of a judgment in our client’s favor in the amount of $87,761. The judgment also included a provision increasing the principal amount by the sum of $5,252 per month for the remainder of the lease term, less any rents received by our client as a result of re-letting the premises. The court also awarded our client attorney’s fees and court costs in the amount of $6,033.
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