Westar Properties - FAQs - Frequently Asked Questions

Q: How does triple-net work? What is covered?

A:  Westar leases are triple-net (NNN).

The Westar Industrial Lease Agreement is a Triple Net lease with annual CPI increases. The monthly rent has two parts: the base rent and the triple net.

Included in the triple net is the tenant's portion of the ground lease, taxes, insurance and grounds maintenance. Multi-tenant buildings have their portion of the water and septic/sewer included in the triple net.The triple net amount figure is adjusted March 1st of each year.
The base portion of the monthly rent is increased annually per the CPI (Consumer Price Index) at the tenant's anniversary.

Q:  What is flex space?

A:   Flex space explained.

Simply put it has multiple uses under one roof. It may have office, storage and warehouse space all in one unit.Leases are written for a shorter term length. Some spaces have shared hallways, lobbies and restroooms. This is becoming a trend in the area, as a tenant it is a nice convenience.