I purchased a business about 5 years ago that rents a warehouse (W1) on a triple net lease basis. I am in the process of purchasing another business that rents a couple warehouses (W2) and will move my operations from one (W1) to the other (W2). I have the following questions:

1. I will dig up the old lease and review the new lease, but what typically am I responsible for when I move out of a triple net lease property? Since I purchased the business that was renting a warehouse (W1) for over 11 years prior to my ownership, I don't know what the property was like prior to the original owner's lease.

2. Should I hire an inspector to review the warehouses for W2?

Thank you in advance!!!

Devils in the details (lease) but you're responsible for Taxes, Insurance, Repairs & Maintenance (normal wear & tear) and utilities inside your box. New roofs and big ticket exterior items like that are usually covered by landlord (capital expenses) unless they snuck that in as well. As with anything in real estate, it's all negotiable. Only one way to be sure and that's looking at the lease.

W1 - Lease terms need to be looked at closely. Sometimes the Landlord has remedies if you move out and don't continue operations even if you plan to keep paying the Rent.

W2 - I would always recommend an inspection. Also, roof and ac terms should be examined closely. A force majeure clause that is specific to your situation/industry is also something to consider.

Is your lease up?