Verizon Wants Brandywine To Pay $21.85M In Land Deal

Law360, Philadelphia (March 21, 2013, 5:27 PM EDT) -- The owners of land in downtown Philadelphia containing a 53-story skyscraper asked a Pennsylvania state judge Wednesday to force a Brandywine Realty Trust unit to cough up $21.85 million for the plot as per a purchase provision in their lease agreement.

In a complaint filed in the Philadelphia County Court of Common Pleas, Verizon Properties Inc., which currently leases the property at 1717 Arch Street to Brandywine Operating Partners LP, said Brandywine opted to purchase the property in September but then refused to abide by the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.