Bache Halsey Stuart Shields, Inc. v. Alamo Savings Ass'n of Texas
| Decision Date | 31 December 1980 |
| Docket Number | No. 16591,16591 |
| Citation | 611 S.W.2d 706 |
| Parties | BACHE HALSEY STUART SHIELDS, INCORPORATED, Appellant, v. ALAMO SAVINGS ASSOCIATION OF TEXAS, Appellee. |
| Court | Texas Court of Appeals |
Plaintiff, Bache Halsey Stuart Shields, Incorporated (Bache), appeals from a summary judgment rendered in favor of defendant, Alamo Savings Association of Texas (Alamo), denying Bache's prayer seeking to prevent Alamo from leasing space to one of Bache's competitors in a building owned by Alamo.
Bache is engaged in the securities brokerage business and is presently renting space from Alamo in the Alamo Savings Tower. Prior to the execution of the lease agreement between the parties, Bache maintained its offices in the Gunter Hotel in downtown San Antonio. There is summary judgment evidence to the effect that Bache wished to move from downtown San Antonio in order "to get away from" Merrill, Lynch, Pierce, Fenner & Smith, Inc., one of Bache's competitors whose place of business was "in close proximity" to Bache's downtown office.
In the lease agreement between Bache and Alamo, Alamo agreed to assume the future rental payments on the Gunter Hotel lease. The lease instrument contained an addendum which provided that Alamo "does hereby grant (Bache) the right to exclude any company engaged in the securities brokerage business as Lessee from the Alamo Savings Tower and the Gunter Hotel premises."
The lease instrument described the "leased premises" as "consisting of approximately 5,465 square feet situated on the ground Floor(s) of the Alamo Savings Tower (the 'Building'), located on Lot 28, Block 1, New City Block 12571 in the City of San Antonio ... and having a street address of 901 N.E. Loop 410." At the time the exclusionary clause was being negotiated, Alamo made public its plans to construct a second tower 100 feet away from the first tower on the same Lot 28, with the two buildings to be connected by an enclosed mall or atrium. Alamo had earlier informed Bache of these plans.
In April, 1976, Bache entered into possession of the leased premises in Alamo Savings Tower. Subsequently, Alamo began construction of the second tower, but the plans for the second building had been modified by eliminating the enclosed mall or atrium connecting the second building to the first. On September 12, 1979, Alamo agreed to lease space in the second tower to Merrill, Lynch, Pierce, Fenner & Smith, Inc., a competitor whose previous office was in "close proximity" to Bache's office in the Gunter Hotel. This second lease described the leased premises as consisting of "approximately 12,411 square feet situated on the first floor of the eight-story office building ... to be constructed on the East 1/2 of Lot 28, Block 1, New City Block 12571, in the City of San Antonio, ... and having a proposed...
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