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JC Foodmart Intl angry over lease loss

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JC Foodmart Intl angry over lease loss

Xavier | Mar 19, 2003 08:47 AM

A little more dish for fans of Foodmart International. They sued, says the Jersey City Journal:

"The owner of the Foodmart International grocery store in Jersey City says he thought his landlord was about to offer him a long-term lease, not shop the 14th Street property to the national retail chain Target.

In court papers filed last week, the store owner, Lewis Wu, claims that officials at the Lefrak Organization, which owns much of the city's waterfront neighborhood of Newport, were being "disingenuous" when they assured him that they had every intention of inking a long-term deal.

"Believing it had secured a 20-plus year lease, Foodmart expended approximately $5 million" in improvements to the store, according to a brief filed in state Superior Court in Jersey City. "Newport was disingenuous."

Link: http://www.nj.com/news/jjournal/jerse...

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