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A triple net lease (triple-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") on the property in addition to any normal fees that are expected under the agreement (rent, utilities, etc.).
Some of McKee's major developments include WingHaven, a 1,200-acre (4.9 km 2) mixed-use project that is the corporate home to Mastercard Operations Center in O'Fallon, NorthPark, a joint venture with Clayco Realty Group including 5,000,000 square feet (460,000 m 2) of planned commercial and industrial redevelopment in North St. Louis County that is the corporate home to Express Scripts, [3 ...
In 2014, an investment fund sponsored by Brookfield Corporation acquired Capital Automotive and its portfolio of 450 triple-net-leased automotive dealerships in the U.S. for $4.3 billion. [56] In 2022, it was sold to a fund managed by Ares Management. [57]
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