A lease structure where the tenant pays a single flat monthly rent, and the landlord covers all property operating expenses out of that amount. Also called a "full service" lease in office markets.
Gross leases give tenants maximum cost predictability because they avoid surprise maintenance bills or tax increases. They dominate multi-tenant office buildings and shorter-term commercial deals. A common variation, the "modified gross" lease, requires tenants to cover their own utilities or interior cleaning while the landlord handles exterior and structural costs. Because operating costs rise over time, most gross leases include a "base year" escalation clause that lets the landlord pass through expense increases above the first-year baseline.
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NNN and gross leases shift expense risk differently. Learn how each structure affects your total occupancy cost and what to watch for in the abstract.
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