A building that has completed construction (i.e. obtained its certificate of occupancy). With a COO, the property will be considered delivered whether or not tenants have occupied the space. (Synonyms: completion; new supply) Learn more at https://www.naiop.org

Space delivered to the market that was never previously leased or occupied by a tenant. Learn more at https://www.naiop.org

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 income generated after deducting operating expenses but before deducting taxes and financing expenses. Learn more at https://www.naiop.org

A lease in which the tenant pays a share of operating expenses in addition to the stipulated rent. Disclosure of the specific expenses to be paid directly by the tenant is required. (See Common Lease Types Matrix.) Learn more at https://www.naiop.org

Net cash flow is the annual income produced by an investment property after deducting allowances for capital repairs, leasing commissions, tenant inducements (after the initial lease is up) and debt service from net operating income. Learn more at https://www.naiop.org

The net change in occupied space over a specified period of time. This change is measured in square feet at the building, submarket and market levels. This figure reflects the amount of space occupied as well as the amount of space vacated. Net absorption can be either positive or negative and must reflect increases and … Read more

This type of retail property is most commonly found in the United States. Anchored by supermarkets and drug stores, the centers are typically one-level, rectangular structures with surface parking in the front and merchandise loading areas in the back. They provide for the sale of convenience goods (food, drugs, etc.) and personal services (laundry, dry … Read more

A building that is not owner occupied and space that is leased to two or more tenants. Learn more at https://www.naiop.org