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MATTER OF RITE AID CORP. v. CITY OF TROY BD. OF ASSESSMENT REVIEW

524582.

155 A.D.3d 1172 (2017)

63 N.Y.S.3d 603

2017 NY Slip Op 07671

In the Matter of RITE AID CORPORATION, Appellant, v. CITY OF TROY BOARD OF ASSESSMENT REVIEW et al., Respondents. (And Two Other Related Proceedings.)

Appellate Division of the Supreme Court of New York, Third Department.

Decided November 2, 2017.

Petitioner is the lessee under a "first generation" 20-year triple net lease of a free-standing retail pharmacy located in the City of Troy, Rensselaer County. The 1.52-acre property was assembled from five smaller parcels acquired by a developer in 2008, who completed construction pursuant to a build-to-suit agreement with petitioner...

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