Glossary

IRR

See internal rate of return.

IRR of the differential

The internal rate of return on the difference between the cash flows for any two investment alternatives. Also see internal rate of return method and differential cash flow

No glossary terms are available.

Key federal laws

With respect to the handling of hazardous materials, they are important laws or statutes enacted to enforce the responsible handling of materials to minimize the danger to human beings and/or the environment.

Labor pool

A body or core group of workers (employed and employable) that make up the local labor force.

Landlord

The lessor or owner of the leased property.

Landlord-paid tenant improvements (LPTI)

The total cost (outlay) of necessary tenant improvements paid by the landlord netted against any contribution made by the tenant.

Land sale-leaseback

The same concept as a sale-leaseback, but only the land is sold and leased back using a ground lease.

Leakage (retail)

Purchases made in other service areas by consumers located within the subject area (representing a loss of revenue for retailers located within the trade area in which those consumers reside).

Lease

A contract that creates the relationship of landlord and tenant. A contractually binding agreement that grants a right to exclusive possession or use of property, usually in return for a periodic payment called rent. (Encyclopedia of Real Estate Terms 2nd Edition, Damien Abbott)

Lease buyout

The process by which a landlord, tenant, or third party pays to extinguish the tenant’s remaining lease obligation and rights under its existing lease agreement.

Lease terminology

Terms commonly used in reference to a lease.