Joseph P. Heins, Special Counsel at Phillips Lytle LLP, is a top-practicing attorney with years of experience in the commercial investment real estate industry. He will present:

 The Dos and Don’ts of NNN Leases and How to Avoid the Legal Leasing Land Mines That Can Sink Your Deal!

NNN properties are a popular (and profitable) source of passive income for CRE investors. But what exactly do “triple net,” “net” or “NNN” mean? You will likely get five different answers if you ask five different people. Joseph P. Heins, Esq. represents clients on all sides of NNN deals and will cut through the confusion to show you what really matters - the lease agreement. Joe will provide an overview of NNN property investing and discuss important lease terms that are necessary for a true NNN lease. In addition, Joe will identify common (and not-so-common) lease pitfalls that could make your property less attractive to investors and tenants.

You will learn:

·         Basics of what makes a lease “triple net.”

·         Legal structures behind common NNN deals, including sale-leasebacks, build-to-suits, and out parcels.

·         Benefits (and potential drawbacks) of NNN leases for property investors, owners, and tenants.

·         Lease loopholes that can undermine the NNN structure and scuttle your deal.

About Joseph:

As a trusted business advisor and legal advisor, Joe truly understands the importance of providing clients with legal guidance that drives business results. Always thinking like a business owner, he not only identifies issues but also partners with clients to develop creative and strategic solutions.

Joe focuses his practice on commercial real estate and complex transactions, assisting clients with leasing, sales, acquisitions, financing, public-private partnerships, project development, and title matters. He works on a wide variety of property types, including retail, office, industrial, warehouse, and multifamily, and has guided clients through a myriad of deals, such as ground leases, triple net (NNN) deals, and 1031 exchanges.

Joe has extensive experience in the retail sector and is an active member of the International Council of Shopping Centers (ICSC) and ICSC+Legal Forum. He provides counsel to landlords and tenants alike to service their real estate portfolios. He has worked extensively with property owners, restaurants, grocery stores, retailers, and franchisees.

Prior to rejoining Phillips Lytle, Joe served as senior in-house counsel to one of the largest privately owned real estate companies in the United States, working with the executive team to service and expand a diverse portfolio of over 50 million square feet.