Apple’s argument is that their land has value because of the work they did/do. They also may argue that rents for their land are at market rate, as demand for it stays high.

Of course, that may be (is for a large part, in my opinion) because of their market power, but that, I think, isn’t much different from Walmart. Market power and sales volume are how Walmart can negotiate lower prices with sellers.

Theme parks such as Disney World may be even better examples. If you want to sell ice creams there, I bet you have to pay a huge sum of money to Disney. It wouldn’t even surprise me if that were a percentage of revenues.