Lanes

Seven ways a net-lease file comes in.

Name the lane when you send the file. The lane does not fill a blank price, cap, or NOI. Financing, if you want it, is quoted separately by WCA Mortgage Brokerage, NMLS #1858674.

1. Investment sale

   An existing net lease. The tenant is already in place. The tape shows the offering that was observed.

2. Sale-leaseback

   You hold the fee, and the operating company stays as the tenant. If someone else is already the tenant, it is an investment sale.

3. Ground lease

   The tenant leases the land. Term, rent resets, and who owns the building at expiry are the file. It is not priced as a building lease.

4. Build-to-suit or pad

   A developer file: the pad, the lease that will be signed, and what is still unbuilt. This page does not compute a residual.

5. Short term or dark

   Little term left, or no rent in place. The desk does not invent the next tenant’s rent.

6. Land

   The lot is the asset. No building value is assumed on this desk.

7. 1031 replacement

   A fee-simple replacement on the 45-day and 180-day clock. The desk does not hold exchange funds and does not sell a DST, a TIC, or a fund interest.