Posted by ray@lcorn on May 26, 2004 at 12:29:44:
Tony,
Triple net refers to the tenant’s responsibility to pay for property taxes, insurance and maintenance. That makes the rent net, net, net to the landlord.
The descripti0on of the deal isn’t enough to determine whether this is a ground lease or building, though with an 8% cap my guess would be the building is included. Ground leases are usually at lower caps.
ray