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As Amazon Considers White Flint Site, Part-Owners Say They're Being Squeezed Out - Source Washingtonian

Posted on Apr 03,2018
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An Amazon office building in Sunnyvale, California. Photograph via iStock.

Source Washingtonian

BY LUKE MULLINS

WASHINGTON, DC. - Amazon has yet to decide whether it will bring its new headquarters to the Washington area - but the prospect is already front and center in a legal skirmish involving one of Washington’s biggest names.

In a lawsuit filed Wednesday in Montgomery County Circuit Court, the part-owners of a parcel including the former White Flint Mall—reportedly Montgomery County’s top contender for the e-commerce giant’s “HQ2″—say they are being squeezed out by a partnership featuring Washington Nationals owner Ted Lerner.

Lerner, along with the children of the late developer Albert Abramson, shares a 75 percent stake in the 44 acres of land surrounding the shuttered mall. The descendants of Henry Reich, who own the remaining 25 percent, say the majority partners sent a letter on March 5 announcing their plans to sell the entire property—including the Reich family’s take—to a firm affiliated with the Lerners and Abramsons. The letter asserted that the operating agreement for the property gives them the right to do so. The Reich family disagrees with this interpretation, arguing that agreement contains no provision “permitting the majority members from forcing a buy-out of the minority members’ interests.”

Source Washingtonian



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