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Macerich, Whole Foods Settle Lawsuit

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Macerich and Whole Foods have settled their lawsuit (which I originally posted on in January)

The owner of Twenty Ninth Street and Whole Foods Inc. have agreed to terminate the natural food grocer's lease of a 40,000-square-foot space in the retail district in Boulder, ending a three-month legal battle between the two companies.

The retail district is owned by Santa Monica, Calif.-based The Macerich Co. Hugh Crawford, senior property manager for Twenty Ninth Street, said the lease termination is part of a "final agreement" ending the legal dispute. Details of the agreement were not disclosed.

"There's been a mutual termination of the lease agreement. They (Whole Foods) have a period of time to get their property out of the space. We have the keys, and it becomes ours to lease," Crawford said.

Crawford said Twenty Ninth Street has an interested renter. The new tenant likely will not be "another grocery tenant.

"We have a key player we are in discussions with, and we hope to make that announcement soon," he said. "We're going to do something that will bring a unique offering to not only the center but the community."

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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