SAN FRANCISCO—The words “simple” and “predictable” are not usually associated with a commercial real estate lease. Few consider lease terms a focal point for improving the customer experience. Instead, landlords and tenants battle over clauses and hammer out maintenance and expense obligations in an adversarial fashion.

It doesn't have to be this way. Considering the lease is essential to the business relationship, shouldn't it alleviate these significant customer pain points?

At Prologis, we are pioneering a new approach, one that goes beyond good location, fair market rent and standard features to address one of the most cumbersome aspects of leasing real estate: annual reconciliations. We've overhauled the standard triple net (NNN) lease to create a simplified document with cost certainty through the entire lease term. The result is our new Clear Lease^TM , which was launched in the third quarter of 2017.