What's with the name? Stay Tuned...

It amazes me how misinformed and in the dark people are when it comes to leasing retail space for their business. Even those people who get involved with a franchise are often lacking the facts. It's not their fault or anyone's fault to be specific. The problem can be identified in the overall lack of information available to people looking to lease retail space for their business. And there you have it, the motivation for this blog. It is my hope and mission to make sure you understand as much as possible when looking to lease a space for your business. Okay, so you still want to understand the name. In retail real estate, most deals are done on a Triple Net(NNN) basis. The Pro-Rata(your portion of the shopping center in square footage terms) share of real estate taxes on the building, insurance on the building, and common area maintenance (CAM) are the elements that put the triple in triple net. The NET refers to the fact that everything passes through to the tenant (you). In essence, you are in charge of everything inside of your space and any other area of the shopping center that you use AND you are paying for someone chosen by the landlord to maintain the areas used by everyone, like the parking lot. So, there you have it...the reason for the name is that 97% of the time, you will be signing a triple net deal.