A lease in which the landlord receives a stipulated rent, and payment of the property’s operating expenses is divided between the lessor and lessee via specified terms in the lease; also called “Modified Gross,” “Net-net” (Double Net), “Net-net-net” (Triple Net), etc., depending on the degree to which the tenant or landlord are responsible for operating … Read more
A lease in which the landlord receives a stipulated rent, and payment of the property’s operating expenses is divided between the lessor and lessee via specified terms in the lease; also called “Modified Gross,” “Net-net” (Double Net), “Net-net-net” (Triple Net), etc., depending on the degree to which the tenant or landlord are responsible for operating … Read more
The grouping of multiple significant uses within a single site or building such as retail, office, residential or lodging facilities. Examples include office buildings that contain ground-level retail and housing, plus projects that have separate office, retail and multifamily properties. Clustering of at least three different uses such as office, retail, residential and/or hotel adjacent … Read more
Low-rise: Fewer than 7 stories above ground level Mid-rise: Between 7 and 25 stories above ground level High-rise: More than 25 stories above ground level Learn more at https://www.naiop.org
Office space that is built in an industrial facility. It is usually along the perimeter of a facility and creates an intermediate floor. Learn more at https://www.naiop.org
A structure with at least 75 percent of its interior built out to accommodate healthcare providers such as doctors and dentists or healthcare technicians who perform exams with specialized equipment. Typically, the buildings have more robust mechanical, electrical and plumbing systems as well as reinforced floors to accommodate numerous exam rooms and heavy medical equipment. … Read more
The controlling lease identifying the terms and length of the lease. Note that a sublease cannot extend beyond the term of the master lease. (See Common Lease Types Matrix.) Learn more at https://www.naiop.org
In commercial real estate (CRE), the terms “market” and “submarket” have many characteristics. Hierarchy: In terms of geographic hierarchy, a region is made up of markets, and a market is made up of submarkets. Boundaries: Markets and submarkets have generally accepted geographic boundaries that do not overlap. They are most commonly bound by streets, roads … Read more
A facility used for the conversion, fabrication or assembly of raw or partly wrought materials into products or goods. (Typical characteristics are shown in the Industrial Building Types Matrix.) Learn more at https://www.naiop.org
Mobile commerce is buying and selling via non-tethered devices such as smartphones and smart tablets. Learn more at https://www.naiop.org