Net lease glossary
WALT (Weighted Average Lease Term)
The average remaining lease term across a portfolio, weighted by each lease's rent or square footage.
Weighted average lease term, or WALT, measures how much contractual lease term remains across a portfolio, weighting each lease by its share of total rent or area. For a single property it is simply the remaining primary term. REITs report WALT as a sign of income durability. Underwriters often exclude unexercised renewal options and may shorten term for early termination rights, so WALT figures should be read with the methodology in mind.