Tenant Rep Tuesday Tip: Explosion of Single Tenant NNN Transactions

Single-tenant triple net (NNN) deals hit record highs

In a single tenant triple-net lease, the tenant is responsible for taxes, insurance and operating expenses, and in some cases, common area maintenance. Single tenant triple-net lease properties are often outparcels or other stand-alone buildings. Common tenants include banks, pharmacies, quick-service restaurants (QSRs), convenience stores and more.

the biggest contributor to the explosion of NNN deals over the past two years may be the proven stability they offer during economic turbulence. More often than not, single-tenant NNN tenants are stable corporate brands that sell essential goods, including convenience stores, pharmacies, and quick-service restaurants that offer staying power during the worst of times.