The Prime Net Lease team specializes in every aspect of Net-Net-Net Transactions. Our special focus nationwide is on Single Tenant Retail and Restaurants. Our involvement includes—but is by no means limited to—sales and acquisitions, sale-leaseback transactions, assistance with NNN-lease structuring, assistance with NNN-lease negotiations and lease extensions.
Our team provides all the support needed to complete any NNN transaction. Due to our consistent efforts to maximize our clients’ equity growth and success, our client-retention rate over 90 percent, and we enjoy continual repeat business.
Below are some short definitions of NNN-leased properties:
Triple-net property: A property under a lease structure in which the tenant is responsible for paying all the property’s operating expenses, a Triple-net, or “NNN,” lease is considered a “turnkey” investment because the landlord is not responsible for paying any operating expenses. There are two types of NNN leases:
1. NNN Lease – This is a lease in which the base rent is net to the landlord. The tenant is responsible for all property taxes, insurance and maintenance, hence the property is “N-N-N.” What a tenant typically is not responsible for in an NNN lease is roof and structure, and that’s why you’ll often see “reserves” taken out of net incomes prior to calculating value, to account for the expense of roof and structure maintenance.
2. Absolute NNN Lease – This type of lease is often referred to as a “bondable,” or a “hell or high-water,” lease, meaning that the tenant is responsible for all the building’s expenses and repairs, including roof and structure maintenance.