If I understand your question correctly, in general I agree with Bill's response. Triple net, or NNN, or Net-Net-Net, is a term that gets thrown around rather loosely, and some people apply it to any "Net" lease agreement. More specifically, a triple net lease is one whereby the tenant is responsible for all expenses related to the property including operating expenses, both fixed and variable, as well as the responsibility for the maintenance, and repair of structural items. Anything less, technically speaking, should be identified as to a "Net" or "Net-Net" lease agreement. In short, the tenant will be required to pay the base rental rate of $25/S.F., plus, all expenses.
Jul 3, 2014