The 86-75309 Company developed the JJ Center, a town-center…

The 86-75309 Company developed the JJ Center, a town-center multipurpose property. After it finished building the JJ Center, 86-75309 quickly sold the entire center to Wayne Property Partners. Wayne, in turn, prepared a 20-year lease back to 86-75309, with four five-year options. 86-75309, in turn, subleased the units in the Center to several luxury retail companies. Based upon this structure Wayne is able to receive the capital appreciation for the Center, and a predictable, ongoing rent stream, and 86-75309 keeps all net amounts it receives from its subleases after it makes its monthly lease payments to Wayne. (Assume no other facts.) This arrangement is an example of a classic “Triple Net” lease. (Select one answer only.)