What is the difference between a triple net lease and a modified gross lease?
A modified gross lease can be best understood through comparison, as it represents a middle ground between a full-service gross lease and a triple net (NNN) lease.
Before signing an industrial, retail, or commercial lease agreement, it’s crucial to learn about complex lease terminology to understand and budget for the price you will be paying per square foot.
Leases are often gross, modified gross, or triple net, representing three methods in how costs are divided between tenant and property owner. The kind of lease is often determined by the type of building or the property’s location. It’s crucial to know the difference between these leases before signing a contract. Read more