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 ?
MedEquities Realty Trust Inc (NYSE:MRT) has signed a new, 15-year triple net lease with Creative Solutions in Healthcare, for all 10 of the company's locations currently leased to affiliates of OnPointe (the Texas Ten Portfolio), the company reported on Saturday.
The fund will also buy UCHealth ER of Littleton, Colorado, a recently completed freestanding building fully leased to theUniversity of Colorado Health (UCHealth) on a 20 year triple net lease with seven five-year renewal options.
In such capacity, she represented builders, developers, entities, individuals, estates and not-for-profit organizations in acquisitions, financings, sales and triple net lease transactions.
The tenant has an absolute triple net lease with 14 years remaining for a 7,945 s/f building on a 142,454 s/f lot.
The site is available for triple net lease. The offering is for the corner portion of a lot, which contains 20,000 s/f of land.
This building is currently leased for $8,500 triple net lease to a light manufacturing company.
The tenant, a manufacturer of highly engineered injection molding products, executed a sale-leaseback and entered into a brand new, 20-year triple net lease. The property consists of a one-story plus mezzanine-office level industrial facility and is strategically located to serve a Blue-Chip customer base throughout the northeast and beyond.
The site is available for triple net lease at $575,000 per year.
The single tenant, Bank of America, has a 20-year triple net lease on the property with additional option periods for extension.
The five-year triple net lease with an option to renew has an asking rent of $60 psf.
The tenant has an absolute triple net lease for a 2,476 s/f building located on a 30,927 s/f lot.
But there are some deals: Kunofsky completed a triple net lease in a downtown retail condo for Chipotle, where the asking rent was $250 per s/f.

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