What to Look for in a Triple Net Property

The ideal property should:

  • Perform well in a recession
  • Perform well during a pandemic
  • Be a public corporation
  • Have an investment-grade credit rating 
  • Have guaranteed lease payments
  • Not have any “rent holidays” or “out clauses” (weasel clauses) in the lease
  • Provide the longest possible lease (15 years)
  • Have multiple renewal options in the lease
  • Have rent increases at each option period
  • Have a population of 10,000+ people within a 5-mile radius
  • Have a stable or expanding population
  • Have a minimum of 3,000 cars per day passing the property 
  • Have a good number and diversity of employers in the area
  • Offer a superior return compared to other asset classes
  • Offer a superior return compared to other triple-net tenants 
  • Have a size and layout that will make it easy to re-tenant the property if necessary
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