Watch Your Triple Net Lease Closely: Building Age and OPEX Volatility Can Outweigh Rent
Triple net (NNN) leases are a go-to structure across commercial real estate, especially for industrial and flex properties. On paper, they’re simple: Base rent + taxes + insurance + maintenance (CAM/OPEX). Landlords like the steady return. Tenants like the transparency and control. But here’s the catch: NNN leases aren’t fixed-cost. They’re variable-cost agreements tied to…





