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What is a build to suit lease?
A build-to-suit (or design-build) lease is essentially a landlord/developer's agreement to construct a purpose built building, usually for a single tenant. ... In some cases, the provisions regarding the construction of the building are included in the lease itself or captured in an accompanying work letter.
What does build to suit mean?
Build to suit is a type of real estate transaction where a property owner or developer will construct a building for sale or lease that will be built to the tenant's or buyer's specifications.
What is a build to suit deal?
A build-to-suit (or design-build) lease is essentially a landlord/developer's agreement to construct a purpose built building, usually for a single tenant.
What does BTS mean in real estate?
BTS: Build To Suit opportunity for financing; build-to-suit (BTS) is basically a form of seller financing whereby the seller finances the land and/or the building and builds to suit the needs of the tenant.
What is shell condition in real estate?
The simple definition of shell condition is a commercial building (office, retail, or warehouse space) with an unfinished interior space. All that has been built are 4 walls, a roof, and a concrete floor. You will NOT see any HVAC, lighting, ceilings, elevators, plumbing, interior walls, etc.
What does Triple Net mean?
A triple net lease (or “NNN” lease) is a form of real-estate lease agreement where the tenant or lessee is responsible for the ongoing expenses of the property, including real estate taxes, building insurance, and maintenance, in addition to paying the rent and utilities.
What is built to suit lease?
A build-to-suit lease is a common arrangement whereby the landlord constructs a free-standing building to meet the specifications of a particular client, who then becomes the sole occupant of the building.
What does build suit include?
A build to suit is a commercial building specifically constructed to meet the design and physical specifications of one particular user. ... The developer will acquire, take ownership, and manage the risk of construction of the property. The tenant will then lease the property from the developer/owner.
What does build to suit residential mean?
Build to suit is a type of real estate transaction where a property owner or developer will construct a building for sale or lease that will be built to the tenant's or buyer's specifications.
What does ground lease mean?
A ground lease is an agreement in which a tenant is permitted to develop a piece of property during the lease period, after which the land and all improvements are turned over to the property owner.
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