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Definition. Agreement between a landlord and a business outlining terms and conditions of property rental. A commercial lease is specific to renters using the property for business or other commercial purposes versus residential use. commercial lease is specific to renters using the property for business or other commercial purposes versus residential use.
When looking to lease commercial property, you will find a range of terminology to describe the type of lease being offered for each building. Leases range from a full service gross lease on one end of the spectrum to a NNN lease on the other end of the spectrum. There are a range of options in the middle of these two that are typically called a gross lease or modified gross lease.