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Certified Commercial Investment Member or CCIM is a recognized expert in the commercial and investment real estate industry. The designation process ensures that CCIMs are proficient not only in theory, but also in practice. This elite corps of CCIMs includes brokers, leasing professionals, investment counselors, asset managers, appraisers, corporate real estate executives, property managers, developers, institutional investors, commercial lenders, attorneys, bankers, and other allied professionals.
The International Council of Shopping Centers, doing business as ICSC, is the global trade association of what it calls the "Marketplaces Industry" (i.e., shopping centers, shopping malls, and all other retail real estate). Founded in 1957, it features more than 70,000 members in over 100 countries, including shopping center owners, developers, managers, marketing specialists, investors, retailers and brokers, as well as academics and public officials. As the global industry trade association, ICSC links with more than 25 national and regional shopping center councils throughout the world.
In July 2021, ICSC rebranded itself in terms of its initials alone, and adopted the tagline "Innovating Commerce Serving Communities"
Institute of Real Estate Management or IREM® is an international institute with the learning, certifications, and networking that property managers need to take on real estate management’s most dynamic challenges.
Dedicated to ethical business practices, maximizing the value of investment real estate, and promoting superior management through education and information sharing.
A triple net lease, also known as an NNN Lease, is a lease in which the tenant agrees to pay their pro-rata share of all expenses associated with property maintenance, taxes, and insurance, in addition to a predetermined base rental rate.
These expenses are commonly referred to as operating expenses.
Operating expenses (op/ex) are the costs associated with operating and maintaining a commercial property such as an office building or retail center. In a triple net lease, op/ex consists of three main elements: property taxes, insurance and common area maintenance (CAM) fees.
In a triple net lease, your annual rental obligation, called gross rent, will be your base rental rate plus operating expenses.
Gross Rent = Base Rent + Operating Expenses
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