White Flint Mall Owners Appeal $31M Verdict in Lord & Taylor Lawsuit

Owners of the former White Flint Mall have appealed the $31M judgment they were ordered to pay Lord & Taylor in an Aug. 14 ruling. In the ruling, a District Court jury determined that by taking steps to redevelop the mall, the owners of White Flint were in violation of a decades-old contract. During the trial, District Court Judge Roger Titus barred White Flint from making projections about Lord & Taylor's revenue after the redevelopment. The mall owners hope to convince the US Court of Appeals the jury should have gotten the chance to consider Lord & Taylor's earning potential in a redeveloped mall, rather than only hear of damages from lost customers. They project a potential revenue increase to $36M/year, up from $25.4M. The hearing will likely be no earlier than this spring. White Flint attorney Scott Morrison says that if the verdict stands, the mall owners may not be able to move forward with the redevelopment, and may be forced to sell the property or declare bankruptcy. [WBJ]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

Lawmakers Punt On Stripping Approvals From 15 Projects In Data Center Alley

Success Of Top-Tier Malls Masks Enduring Distress In Sector's Underbelly

Holographic Zoo Leases 51K SF Coconut Grove Building For First Location

Hines Spends $170.5M On Mixed-Use Portfolio In Dallas' Bishop Arts District

Local Investor Pays $30M For Block 37 In Heart Of Downtown Chicago

Affinius Relinquishes Big Office Building Next To Capital One Arena

M Core Extends Its Retail Shopping Spree

Oprah-Backed Health Food Chain Files For Bankruptcy, Seeks To Exit Leases

One Thomas Circle, The Elevated Workplace For The Way D.C. Works

DCHA Taps Executive Director: The D.C. Deal Sheet

Federal Realty Spends $508M On Alabama Power Center

The Multifamily Boom Is Putting HVAC Decisions Back In The Spotlight