triple-net lease

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.

triple-net lease

A lease that requires the tenant to pay all costs and expenses associated with ownership of the property,including taxes,insurance,repairs,and maintenance. Contrast with gross lease.

References in periodicals archive ?
The property is occupied under a triple-net lease with approximately eight years of term remaining.
Also, concurrent with the closing of the purchase, IIP further signed into a long-term, triple-net lease agreement with a subsidiary of Ascend Wellness Holdings LLC (AWH), which will operate the property as a licensed medical-use cannabis cultivation and processing facility, post redevelopment.
The company said it had signed a purchase contract to buy a 27,280 sq ft cardiac clinic on 5 June 2017 and that it was going to sign a new, 12-year, triple-net lease with the Lubbock Heart Hospital.
The company said it plans to produce increasing, reliable rental revenue by expanding its portfolio, and leasing each of its healthcare facilities to a single market-leading operator under a long-term triple-net lease.
The 15-year, triple-net lease with 12 percent rent increases every five years and two five-year options to renew is now guaranteed by Advocate Health and Hospitals Corp., doing business as Advocate Medical Group, which bought out MPG in 2009.
Triple-net lease in place with 2 years plus 5 year option remaining.
Owners of low-cost properties can make a nearly 10 percent annual return for their money if they buy a property under a triple-net lease scenario, said Marilyn Kane, managing director at Sperry Van Ness/Butler Kane, one of six speakers on a panel organized by the real estate-focused NYC Network Group.
Toll Brothers has leased the property through October 2019 on a triple-net lease basis.
Appeals classifies FLPs holding assets such as cash, marketable securities, closely held stock and real estate (triple-net lease) as passive-asset FLPs.
Hamburger Partners (operator of 312 Wendy's locations) under a triple-net lease with about seven years of term remaining.
The revenue decrease was primarily attributable to one operator/tenant transitioning from RIDEA to a triple-net lease structure.
The portfolio is comprised of Class A properties with 99% occupancy levels, where the totality of the lease contracts are US dollar-denominated and under a triple-net lease (NNN) structure.