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Triple Net Lease

   Also found in: Legal 0.01 sec.
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.


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In a Triple Net Lease, for instance, you are responsible for paying the three major fees of the Miami commercial real estate: property taxes, insurance and maintenance.
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.
However, the Sunrise portfolio is an operating portfolio rather than a triple net lease portfolio for Ventas (i.
 
 
 
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