The applicant commercial tenant sought a declaration that it had been overcharged for base rent and requested a retroactive rent rebate of at least $450,000.
The tenant argued that the rent charged exceeded market rates and relied on certain lease provisions referencing rentable area and market rents.
The court dismissed the application, finding that the parties had freely negotiated and agreed to the rent increases as the tenant expanded its footprint.
The court held that the lease did not contain a general right to a retroactive rent adjustment based on market rates.
