Commercial real estate has its own language, and sometimes it can sound like people are speaking in code.
Here are a few common terms that every business owner should know:
Lease Rate
The amount paid to occupy commercial space.
CAM Charges
Short for Common Area Maintenance. These costs help maintain shared areas such as parking lots, landscaping, and walkways.
Tenant Improvement (TI)
Funds or improvements made to customize a space for a tenant's specific needs.
Triple Net Lease (NNN)
A lease structure where tenants may pay property taxes, insurance, and maintenance expenses in addition to rent.
Square Footage
The total size of the space available for occupancy.
Learning these basic terms can make leasing and purchasing decisions easier and help business owners feel more confident during negotiations.
The more you know, the fewer surprises you'll encounter along the way.
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