Hi Robert,

A triple net lease is where the you, the lessee is responsible for the maintenance, insurance, and taxes associated with the property.  Whereas in a gross lease the lessor is responsible for all of those very things.   It's very important that you verify and validate with the lessor what they will be covering in a triple net.  Usually they cover the parking lots, communal areas, plumbing and heating and cooling.  Typically, lessors use this to make price per square foot more attractive, so it's $12/sq foot + triple net.  The + triple net is a bigger black hole because it's unknown at the time of negotiating the entry terms of the lease.  

The important thing to remember is that while, location is the key to a business, don't be afraid to walk away from the initial meeting and go and do your research. Especially, if they press you, stating that the location is being actively viewed and persued by several parties.  Typically these leases are 3-5 years and even as high as 10 years for a valuable retail lease space.  Rushing into a long-term lease is a very dangerous predicament and difficult to get out of.  Also ask if subletting is allowed by the lessor in case you make it rich and need to move into a bigger property, or in a more dire case, you're business is not making it at that location.

Good luck to you.