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 ?
It grow its portfolio by acquiring additional real estate to lease, on a triple-net basis, for use in the restaurant and related food services industry.
Under a triple-net lease, the tenant assumes responsibility of the property's ongoing operating costs (taxes, insurance, maintenance) in exchange for a long-term lease.
Physicians Urgent Care, also known as Physicians Immediate Care, has a 15-year triple-net lease with two percent annual rent increases starting in 2012 and four five-year renewal options.
The portfolio is triple-net leased with a remaining term of approximately 11 years and includes fixed rent escalations.
There is a long-term, triple-net lease with the tenant for the approximate 40,000-square-foot building, which is situated on four acres of land.
NYSE: GTY) ("Getty" or the "Company") announced the signing of two long-term triple-net leases today for 109 properties representing $9.
The company seeks to grow its portfolio by acquiring additional real estate to lease, on a triple-net basis, for use in the restaurant and related food services industry.
The final portion of SunTrust Bank Portfolio II consists of 143 single tenant triple-net lease properties for approximately $230 million.
A real estate investment trust, Four Corners owns quality, net-leased restaurant properties and it seeks to grow its portfolio by acquiring more real estate to lease, on a triple-net basis, for use in the restaurant and related food services industry.
Entertainment Properties Trust provided a total real estate financing solution for the City Place 14 project including the initial land purchase, construction finance and execution of a long-term triple-net lease.
Healthcare company HCP (NYSE:HCP) revealed on Wednesday the divestiture of its portfolio of its leased 64 triple-net assets for an aggregate sales price of USD1.
Itzhaki Properties has retained the exclusive listing for the sale of a triple-net leased hotel located at 2147 2nd Avenue, between 110th and 111th Streets in East Harlem.