Representation regarding purchase and sale of residential and commercial real estate; negotiating and drafting commercial real estate loans and leases.
The following are examples of our representation in this practice area:
When a major car dealer purchased an existing property lease and the municipal landlord refused for political and other improper reasons to provide its necessary consent, Sprague & Sprague successfully sued on the dealerís behalf, achieving a complete victory through a settlement at trial that secured both the Cityís approval and an extension of the term of the existing lease.
When a major real estate company learned that the retail building which it was purchasing would not be leased back by the seller as promised, the Firm brought an equity action for specific performance of the agreement, resulting in
a favorable settlement for our client.
When a major real estate developer was required to pay for the relocation of utility poles and an underground gas line in connection with the widening of streets adjacent to its new subdivision, Sprague & Sprague was hired by the developer to assess its responsibility for the charges. We concluded that the utility improperly charged for the work and that the developer was due a significant refund.
We regularly represent an owner of shopping centers nationwide in numerous transactional issues related to leasing its properties, sublease approvals, easements, tenant bankruptcies, signage issues, negotiating new lease terms, lease assignments, sale of properties and similar matters.
Sprague & Sprague represented the purchaser of a multi-tenant office building in suburban Philadelphia, successfully negotiating the agreement of sale, handling the closing and resolving post-closing disputes to the complete satisfaction of our client.
The Firm represented one of the owners of a major real estate partnership with more than $50,000,000 in assets, during which we negotiated numerous agreements of sale and handled numerous real estate closings over a period of 15 years.
The Firm successfully tried a housing discrimination case in federal court where a jury found that two property owners involved in the lease of a condominium discriminated against a Jewish couple on account of the couple's religion. The jury awarded the Firm's clients substantial compensatory and punitive damages, which were upheld by the District Court and the United States Court of Appeals.