11 You have just bought a distribution center that has a 20-year triple net lease (NNN) with a Year 1 annual base rent of $100,000, no escalations, but with a step-up after 5 years to compensate for the anticipated inflation over the intervening years that economists are estimating to be at an average rate of 2% per annum. Given this forecast, what would be the rent at which you reset the lease for Year 6? a. $110,000 b. $110,408 c. $110,508 d. Remain at $100,000 since the lease has a 20-year term