NNN: A lease agreement on a property in which the tenant (or lessee) promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance in addition to the cost of rent and utilities. In contrast, in standard commercial lease agreements, normally the landlord, rather than the tenant, is responsible for some or all these payments.
A single net lease, on the other hand, requires the tenants to pay property taxes in addition to rent, and a double net lease usually adds on property insurance.
Pertains to real estate, debt, and equity offerings.
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