Triple-Net

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Triple-Net

A lease in which the tenant is responsible for costs in addition to rent. The tenant is responsible for net property taxes, net insurance, and net maintenance for the duration of the lease, which is the origin of the name. Because the tenant is responsible for costs that the lessor would otherwise pay, rent on a triple-net lease is usually lower than on other leases.
References in periodicals archive ?
Although many retail leases in Manhattan are structured as triple net leases, they are generally only part of an overall, mixed-use building, said Kunofsky.
The others, both new buildings in their fill-up phases, were structured as triple net leases with an option to buy.
Triple net leases obligate the tenant to pay for all operating expenses, such as taxes, insurance, utilities and maintenance.
Net Lease Acquisition Group Vice Presidents Patrick Pearson and Gregg Fields structured 20-year, triple net leases for each of the stores.
The borrower had a long term hold strategy and wanted to obtain a low fixed rate, long-term, non-recourse loan as supported by the two long-term, triple net leases at the property.
Lease terms provide for triple net leases by a single master tenant, with a minimum lease term of 10 years plus extension options.
Citizens and Charter One will continue to operate in the acquired properties under triple net leases with initial terms of five or fifteen years.
CNL's objective is to be a one-stop-shop for real estate needs, including long-term triple net leases, mortgages, and merger and acquisition advice.
The existing triple net leases and the location of the Damon Estate lands represent a rare opportunity to acquire properties which combine very little downside risk and considerable upside potential.
The facilities are leased under 15-year triple net leases to an experienced operator of retirement housing.
The source of the tax increment revenues for the series A and C bonds are the triple net leases signed by the `in-line' mall tenants.
The county's obligation is governed by an operating and modified gross lease, in contrast to capital and triple net leases used most often.

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