Gross Sales (as Defined in Lease)
"Gross sales" is a defined term in many retail leases that specifies which revenue streams are included in, and excluded from, the percentage rent calculation. Definitions vary substantially by tenant type (for example, treatment of returns, delivery, third-party platforms, taxes, and gift cards).
- Where it applies
- Generally, not specific to New York
- When it comes up
- Lease Drafting / Lease Administration
- Property types
- Retail
Related terms
Retail-Specific Leasing Terms
- Anchor Tenant
- Breakpoint (Percentage Rent)
- Co-Tenancy Clause
- Exclusive Use Clause
- Go-Dark Provision
- In-Line Tenant
- Kick-Out Clause
- Percentage Rent
- Radius Restriction
General information, not legal, tax or financial advice.