triple net lease


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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 property is 100% occupied by Walgreens under a long term triple net lease with approximately 23 years of term remaining on the lease.
The site is available for triple net lease at $575,000 per year.
Certified Grocers' triple net lease on the facility expires in December 2014 and provides Certified with extension options through 2034.
Through the partnership, Sovereign helped facilitate Rite Aid's store development program by acquiring newly developed assets leased back to Rite Aid under a 20-year triple net lease.
The single tenant, Bank of America, has a 20-year triple net lease on the property with additional option periods for extension.
Thus, a triple net lease of property under which the lessee is responsible for all costs of operation would not be net earnings from self-employment.
The triple net lease has an initial term of 15 years and provides 3 renewal terms of 5 years each.
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.
The company will continue to operate in the distribution facility under an existing triple net lease, which expires in September 2004 and provides Nike with options to continue occupancy through 2014.
The Lease is a triple net lease and provides for the payment of base rent of approximately $530,000 in its first year, $705,000 in each of years two through five, $750,000 in each of years six through ten and $795,000 in each of years eleven through fifteen.
But the property had a particular quality that made it an appealing investment: a triple net lease, in which the tenant pays property taxes, insurance and maintenance expenses, along with monthly rent, with 17 years remaining.
Getty also announced today that it has entered into an agreement to triple net lease all 18 of the properties to Yellow Goose Markets, a leading convenience store operator in the region, effective upon the closing of the acquisition.

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