Topic
Lease Structure
Guides and real deal teardowns on lease structure.
Why one month can cost you 25 basis points
How value quietly bleeds as lease term burns off, and why it accelerates the closer you get to expiration.
Read it →Starbucks net lease and ground lease basics
The difference between a Starbucks corporate net lease and a Starbucks ground lease, why rent escalations matter, and what to confirm before you buy.
Read it →The Chick-fil-A ground lease, explained
Why Chick-fil-A single-tenant deals are scarce, what a ground lease means for a landowner, and what to confirm before assuming a listing is really the tenant it claims.
Read it →Ground leases, explained: owning the dirt under the store
What a ground lease is, how it works for retail investment property, what to watch for, how to use it as a defensive strength, and the best/worst-case outcomes.
Read it →Common area maintenance (CAM): the retail expense that quietly makes or breaks returns
What CAM is, how it works in multi-tenant retail investment property, what to watch for, how to structure it as a strength, and the best/worst-case outcomes.
Read it →The 7.25 cap that was really a countdown timer
A 7.25 cap that everyone loved, until you read the lease: four years of term, a single-store guarantee, and an old roof on the landlord.
Read it →The 6.5 that beat the 7.5
Two deals, same month: a 7.5 and a 6.5. The lower cap was worth more, and it wasn't close. Here's why.
Read it →Flat rent, quiet erosion
This one doesn't blow up. It just quietly loses value for fifteen years, and nobody notices until they go to sell.
Read it →The anchor went dark
A center that looked diversified was really a three-year bet on one anchor, with co-tenancy clauses waiting to take down the rest.
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