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Working alongside engineer Steve Midgley, the two built LoopNet into the internet's largest commercial real estate listing service. LoopNet underwent three rounds of private venture capital financing in 1997 (Indo Suez), 1998 (Trinity Capital & Partners) [ 1 ] and $20 million in 1999 from fourT5 real estate brokers.
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.).
According to Real Capital Analytics, a New York real estate research firm, more than $160 billion of commercial properties in the United States are now in default, foreclosure, or bankruptcy. In 2024, office leasing volume rose to its highest level since 2020, but roughly 60% of active office leases went into effect prior to the pandemic. [ 5 ]
A gross lease is a type of commercial lease where the tenant pays a flat rental amount, and the landlord pays for all operating expenses regularly incurred by the ownership, including taxes, electricity and water. [1] Most [weasel words] apartment leases resemble gross leases. [2] The term "gross lease" is distinguished from the term "net lease."
On September 17, 2015, Voltari acquired a real estate parcel in Long Branch, New Jersey. The property is subject to a triple net lease with JPMorgan Chase, the original term of which expires in June, 2020 (with two, five-year renewal options). [citation needed] On May 18, 2016, Voltari acquired a real estate parcel in Flanders, New York.
The Gateway Center is a commercial complex in Newark, New Jersey. Located downtown just west of Newark Penn Station between Raymond Boulevard and Market Street;,McCarter Highway runs through the complex. Skyways and pedestrian malls interconnect all of the office towers, a Hilton Hotel, [9] the train station, and the Newark Legal Center.
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