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Updated about 8 years ago,
Violation of CC&Rs in a "dead" complex?
Hello all,
I am trying to buy a building which is a stand alone parcel within a large strip mall. The strip mall is more than 80% vacant. The CC&Rs were filed 10 years ago by company A. Company A sold the strip mall to company B 3 years ago. My Parcel is within the same strip mall and governed by these same CCRs
The CC&Rs prohibit my intended use in that stand alone parcel (Its currently a restaurant and I want to turn it into retail/service). The issue is that the CC&Rs literally prohibit ANY other use other than a burger and fry joint for the parcel I want to buy.
We called the original company that filed the CC&Rs (company A) and they said they dont care anymore they sold all rights and rules to company B. Company B says they wont help us get an amendment because they also want to sell this entire dead complex and dont want to lift a finger when they dont have to. I stated that my business which is a 10 year old established business with over $2M a year in revenue would be a boost to the otherwise dead complex and the owner basically responded saying he doesnt care, he just wants to sell it and be done.
So the question is, what can I and the current owner of the parcel do? Do we have any path to go? The current owner of the strip mall is not being reasonable in his reluctance as the current owner of my parcel will never be able to sell the parcel to another burger and fry business (2 have already failed there).
I can provide more details but that is the gist of it. I am SEVERELY limited in my choices of where I can relocate and this would have worked (zoning and all are ALL fine, just not these damn CCRs).
Help?
Abe