Triple net lease


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Triple net lease

A lease providing that the tenant pay for all maintenance expenses, plus utilities, taxes, and insurance. This results in lower risk for investors, who usually form a limited partnership.

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 ?
Jordan Shtulman, Principal of STREAM, commented about the sale that "the continued cap rate compression in the net lease market - particularly for high quality credit tenants under long term triple net leases - enabled the seller to achieve a profit and avoid short term capital gains taxes.
Getty estimates that the acquisition and triple net lease transaction will be accretive to its annual earnings in the amount of approximately $0.
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.
Iridium has picked the triple net lease as a way to offer a stable investment for real estate neophytes.
Getty estimates that the acquisition and triple net lease transaction will be accretive to Getty's annual earnings in the amount of approximately $0.
Currently, 696 West Avenue has a 17,000 s/f, 25-year triple net lease with CVS and a 5,000 s/f double net lease with ShoeMart.
AT&T Universal Card has invested a significant amount in improvements to the facility and will continue to operate in the building under an existing triple net lease, which includes renewal options to occupy the property until June 2015.
Each property is subject to a triple net lease in which Beckman Coulter is obligated to pay rental payments with no setoff, abatement or reduction.
Upon closing of the acquisition, CapLease entered into a 20-year triple net lease with Tiffany.
The nine-screen theater, housed in a 1926 art deco building overlooking Prospect Park, regularly attracts more than 500,000 admissions annually," said Massey Knakal partner Brian Leary, who exclusively represented the seller, a publicly traded real estate investment trust specializing in triple net lease properties, with Broker Kenneth Freeman.
CapLease has also agreed to enter into a 20-year triple net lease with Tiffany upon closing of the acquisition.
announced the 10-year, triple net lease of the one story garage building located at 550 West 21st Street to Yvon Lambert Gallery.
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