A lease where the tenant pays base rent plus all operating expenses, taxes, and insurance.
Lease structure · US
A lease where the tenant pays base rent plus all operating expenses, taxes, and insurance.
Triple net is rare for multi-tenant Class A office (more common for industrial, retail, and single-tenant office). The tenant pays the landlord a base rent and separately reimburses real-estate taxes, insurance, and operating expenses on a fully-loaded basis.
Triple net lease (NNN) is part of the lease structure vocabulary that institutional Class A occupiers, landlords, and advisers use across US markets. Understanding it correctly affects how you read lease documents, model occupancy economics, and benchmark deal terms across cities. Class A Atlas tracks the US definition alongside the global standard so cross-border occupiers can translate quickly.