Kiritsis & Associates

 

Overview of Triple Net commercial leases in New Jersey.

Jul 8, 2021

Law Offices of Kiritsis & Associates. Phone: 212-922-0005.

Author: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

 

A triple net commercial lease is a net lease where the tenant is responsible for rent, maintaining the premises, and other property charges like utilities and taxes. A party that fails to properly plan approaching a commercial lease will waste much time reviewing and negotiate the lease later on. The planning above does NOT account for non-real property.

 

Construing leases is often a matter of law. A jury will rarely resort to the parole evidence rule. Parties should NOT rely on courts to construe better bargains than those the lease provides.

 

Besides legal regulations, there may be practical reasons, that would compel landlords and tenants alike, to have their lease agreement contractual documents, be recorded for public filing purposes.  Those reasons can involve any one or more of a myriad of situations, such as: part of a broader loan/mortgage type of agreement (i.e. as it concerns to a lender's/underwriter's due diligence process, during a mortgage financing type of situations), tax substantiation reasons with regards of an ongoing and/or potentially prospecting upcoming tax audit, part of a wider range of zoning/variance controversy situation.

 

Many of the lease agreements (especially, many of the ones created through do-it-yourself autogenerating software or bare-bone store sold templates) did not account the catastrophic damages, that would inflict landlords and tenants after COVID-19.

 

To better assist in a quest of further analyzing this type of question(s) as revolving per this legal guide article, it may be useful to make additional inquiries, such as: Should special zoning classification uses or restrictions be included in New Jersey real property leases, accounting for such uses by the tenant(s)?  Has the lease been reviewed and revised to account for any recent relevant changes in New Jersey law? Do any rent regulation laws apply to the lease?

 

Our firm can help you draft, review, negotiate, and execute any type of New Jersey real property lease agreement. We are open seven days a week from 8 a.m. to 8 p.m. We offer prospective clients both exhaustive and comprehensive leasing law practice services, including the following:

 

Residential lease contracts.

Non-rent regulated residential lease agreements of New Jersey.

Rent regulated residential lease contracts.

Rent regulated stabilized residential lease agreements of New Jersey.

Rent control regulated residential lease contracts.

Commercial lease agreements of New Jersey.

Medical space use lease contracts. 

Bank/financial institution use lease agreements of New Jersey.

Spa and physical therapy related use lease contracts. 

Gym and other recreational related use lease agreements of New Jersey. Call our law offices at (212)–922–0005

Professional service lease contracts, including: Accounting, Insurance, Medicine, Law, Architecture, etc.

Jewelry and related use lease agreements of New Jersey.

Safety deposit/vault use lease contracts. 

Chemical and pest control related use lease agreements of New Jersey.

Cinema and theater productions related use lease contracts. 

Roommate use lease agreements of New Jersey.

Co-habitation lease contracts. 

Triple net lease agreements of New Jersey.

Commercial leases with time extension option provisions.

Real property lease agreements of New Jersey. Call our law offices at (212)–922–0005

Addendum and side deal real property lease contracts. 

Lease agreements modifications of New Jersey.

Existing lease assumption lease contracts. 

Cancellation of real property lease agreements of New Jersey.

Cancellation of residential lease contracts. 

Cancellation of commercial lease agreements of New Jersey.

Barbershop and beautician related lease contracts. 

Gas station and related use lease agreements of New Jersey.

Restaurant and related use lease contracts. 

Food establishment and related use lease agreements of New Jersey. Call our law offices at (212)–922–0005

Deli and bodega related use lease contracts. 

Liquor store and other related use lease agreements of New Jersey.

Bar and tavern related use lease contracts. 

Parking space and garage related use lease agreements of New Jersey.

Religious institution and related use lease contracts. 

Church and related use lease agreements of New Jersey.

Morgue and related use lease contracts. 

Synagogue and related use lease contracts of New Jersey.

Buddhist temple and related use lease agreements. 

Hinduism temple and related use lease contracts of New Jersey. Call our law offices at (212)–922–0005

Non-profit and related use lease agreements. 

501 (c) 3 organization and related use lease contracts of New Jersey.

Lease sales back terms lease agreements. 

Lease contracts with option to purchase clause of New Jersey.

Development site lease agreements. 

Tax favored lease contracts of New Jersey.

Farming related lease agreements. 

Agriculture and related use lease contracts of New Jersey.

Livestock related use lease agreements. 

Poultry related use lease contracts of New Jersey. Call our law offices at (212)–922–0005

Timber related use lease agreements. 

Mineral rights related use lease contracts of New Jersey.

Oil drilling related use lease agreements. 

Laboratory and medical testing related use lease contracts of New Jersey.

Riparian and water rights related use lease agreements. 

Buffet-style restaurant use lease contracts of New Jersey.

Dining hall use lease agreements. 

Landlord-focused and customized lease contracts of New Jersey.

Tenant-focused and customized lease agreements.

Construction project centered lease contracts of New Jersey. Call our law offices at (212)–922–0005

Condo lease agreements. 

Co-op lease contracts of New Jersey.

Condo co-op lease agreements. 

Condo-type building premises lease contracts of New Jersey.

Co-op-type building premises lease agreements. 

Condo co-op building premises lease contracts of New Jersey.

Single family dwelling lease agreements. 

Two family dwelling lease contracts of New Jersey.

Three family dwelling lease agreements. 

4-plex property lease contracts of New Jersey. Call our law offices at (212)–922–0005

Multi-family property lease agreements. 

Mixed-use property lease contracts of New Jersey.

Commercial use building premises lease agreements. 

Industrial use property lease contracts of New Jersey.

Locker room/storage type lease agreements. 

Postal office box related use lease contracts of New Jersey.

Laundromat and other related use lease agreements. 

Carwash and other related use lease contracts of New Jersey.

Florist, botanical, and horticulture use lease agreements. 

Hair saloon and related use lease contracts of New Jersey. Call our law offices at (212)–922–0005

Municipal related use lease agreements. 

Governmental entity organization related use lease contracts of New Jersey.

Hostel and other related use lease agreements. 

Adults-only recreational use lease contracts, including: Strip clubs, Marijuana dispensaries, etc. of New Jersey.

Master lease agreements. 

Co-op propriety lease contracts of New Jersey.

Hypothecating, equity-utilization, leveraging lease agreements. 

Drafting lease contracts of New Jersey.

Negotiating lease agreements.

Lease contract and document review services of New Jersey. Call our law offices at (212)–922–0005

 

We offer prospective clients services throughout the state of New Jersey, including the following counties:

 

Atlantic

Bergen

Burlington

Camden

Cape May

Cumberland

Essex

Gloucester

Hudson

Hunterdon

Mercer

Middlesex

Salem

Somerset

Sussex

Union

Warren

 

 

You can call use today for a FREE initial consultation with a licensed New Jersey real estate attorney at (212) – 922 – 0005.

 

We offer a number of fee payment options, including: Flat, Hourly rate, Mixed-type (various payment plans combined).

 

We accept all standard methods of payment, including: Cash, Personal check,Business check, Cashier check, Bank check, Money order, Debit card, Most credit cards.

 

We also sell template-type products, including legal guide pamphlet-style booklets.

For more information on any of the above services and products, or any type of legally related service product, contact us at any of our New York and New Jersey branch affiliates.

 

Sources:

 

Sailor and Soldiers Civil Relief Act

New Jersey Department of Community Affairs

New Jersey Department of Civil Rights Division

Seton Hall University School of Law

New Jersey Law Journal

New Jersey Institute of Continuing Legal Education

New Jersey Revised Uniform Limited Liability Company Law

New Jersey Lawyer Magazine

 

Fargo Realty, Inc. v. Harris, 173 N.J. Super 262

Fonnerjian v. Moskowitz, 237 N.J. Super 395 (App. Div. 1989)

Great Atlantic & Pacific Tea Co., Inc. v. Checchio, 335 N.J. Super 495 (App. Div. 2000)

Schultz v. Kneidl, 56 N.J. Super 575 (L&W Div. 1959), Id. 59 N.J. Super 382 (App. Div. 1960)

Hoffman v. Seidman, 101 N.J.L. 106 (E. & A. 1925)

Sparks v. Lorentowicz, 105 N.J. Eq. 189 (E. & A. 1930)

Garden State Plaza Corporation v. S.S. Kresge Co., 78 N.J. Super. 485

N.J.S.A. 25: 1-12

172 Van Duler Realty Corp. v. Globe Alumni Student Assistance Ass’n, Inc. 24 N.Y.3d 528 (N.Y. Ct. App. 2014)

Islip U-Slip, LLC v. Jack’s of Route 23, Inc., 166 N.J. Super 36 (App. Div. 1979)

Cox v. Simon, 278 N.J. Super 419 (App. Div. 1995)

Ringwood Assocs., Ltd v. Jack’s of Route 23, Inc., 166 N.J. Super 36 (App. Div. 1979)

Caris v. Way, 192 N.J. Super 536 (Law Div. 1983)

River Road Assocs. v. Chesapeake Display and Packaging Co., Inc., 104 F.Supp.2d 418 (D.N.J. 2000)

Ultimate Computer Services, Inc. c. Baltimore Realty Co., Inc., 183 N.J. Super 144 (App. Div. 1982)

J.H. v. R&M Tegliareni, 2018 WL 1526736 (App. Div., March 29, 2018).

 

Law Offices of Kiritsis & Associates
Phone: 212 922 0005

Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Suite 1306

Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
1st Floor

New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
2nd Floor 

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