A Renewal Rent Appraiser Who Cannot Average Your Number With the Landlord's
Sweetgreen's lease at 3101 Exposition Boulevard says the Final Arbiter shall not make a determination based upon the average of the two proposed rents. Atara Biotherapeutics' amendment says the average of the two closest arbitrators in a three arbitrator panel shall be final and binding. That second sentence appears in 182 SEC filings, because it is one landlord's house form. MacroGenics has the identical sentence and the opposite rule about what happens if the tenant does nothing: Atara is deemed to have elected arbitration, MacroGenics loses the extension right. CarGurus pays the landlord's number while the panel argues; Atara pays last year's rent plus 3%. Acacia's clause went from one sentence with a floor in 2009 to two sentences with neither floor nor procedure in 2012 to a full appraisal procedure in 2015. No lease in the set caps the increase, and none tells the appraiser to ignore the tenant's own build-out.