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triple net lease |
Also found in: Financial | 0.02 sec. |
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triple net lease n. a lease in which the lessee's (tenant's) rent includes a share of real property taxes, insurance and maintenance as well as the basic rent. A "triple-net-lease" is standard in leases of commercial property in shopping centers and malls. (See: rent, lease) |
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The nine-screen theater, housed in a 1926 art deco building overlooking Prospect Park, regularly attracts more than 500,000 admissions annually," said Massey Knakal partner Brian Leary, who exclusively represented the seller, a publicly traded real estate investment trust specializing in triple net lease properties, with Broker Kenneth Freeman. The triple net lease has an initial term of 15 years and provides 3 renewal terms of 5 years each. announced the 10-year, triple net lease of the one story garage building located at 550 West 21st Street to Yvon Lambert Gallery. |
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triple net lease
