Frequently Asked Questions

What is included in a triple net lease?
A triple net lease (aka: NNN) will designate a specific price per square foot for rent, plus actual expenses such as property taxes, insurance, and maintenance calculated upon the square footage you occupy with respect to the total square footage of the entire complex.

What is included in a gross lease?
With a gross lease, the landlord pays the property taxes, insurance, and maintenance, and those estimated expenses would be included in your agreed upon lease amount. You would be responsible also for the utilities that you use in your suite.

Which lease will I have to sign?
You can sign either. The landlord will explain to you the differences as listed above, however, the final choice is up to you. We suggest that you consult both accounting and legal counsel to help determine which best fits your financial situation.

What happens if the existing floor plan doesn’t fit my needs?
Each of the three buildings is of wood trussed construction. All interior walls can be removed and new walls can be constructed to fit your specific floor plan needs.

Who pays for the remodel?
Depending on lease terms, you, the landlord, or a combination of both will pay for the new construction. Often times, when tax ramifications are considered, it is to the benefit of the tenant to pay for the improvements, so you should certainly consult your accountant before finalizing any agreement. There are instances whereby the landlord will pay for the improvements and amortize the costs, including a reasonable interest rate, over the term of the lease. These tenant improvements are most often negotiated between the tenant and the landlord.