Demystifying the “Expense Stop”: How Full-Service Gross Leases Are Quietly Killing Your Office NOI in OC
If you own a retail center in Huntington Beach or an industrial warehouse in Anaheim, you are likely operating under a Triple Net (NNN) lease. You collect your Base Rent, and the tenant reimburses you for 100% of the property taxes, insurance, and maintenance. Your Net Operating Income (NOI) is perfectly insulated from inflation. However,…