We mentioned above about a lease being a gross lease
or a net lease.
A return to gross leases
, however, can benefit both landlords and tenants, as well as foster a building's sustainability.
When the subject property is leased exclusively on all gross leases
, this tax rider is combined with the appropriate capitalization rate and, in combination, become the loaded cap rate.
The Third Quarter numbers show only a statistically irrelevant drop in average gross lease
rates and minor increase in overall vacancy rates as compared to this year's First Quarter statistics.
The second quarter's average asking gross lease
rate is $20.
A new, 40,000-square-foot, Wiz electronics superstore will open at The Old Bridge Gateway in Spring, 1994, and a new, 10,000-square-foot Old Country Buffet restaurant is scheduled to open in the Fall, enlarging the center's gross lease
area (GLA) to 240,000 square feet.
The property will be offered with a $600,000 per year gross lease
and has excellent user potential.
It is currently occupied by a mix of local and non-credit tenants on net and modified gross leases