The collapse of Silicon Valley Bank (SVB) has left a great amount of speculation as to what’s next. SVB has been leasing the Hayden Ferry Lakeside I on Tempe since 2012, and they have announced that it was operating at more than 150,000 SSQ FT. There were plans of expanding to the remaining 60,000 sq ft., however, the fate of SVB will depend on if Federal Deposit insurance Corp. Can secure a buyer.
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A full-service lease is a lease that has one, all-inclusive rental rate which includes both the base lease rate and the operating expenses combined into one figure.
A modified gross lease is a lease where the tenant pays base rent at the lease’s inception, but it takes on a proportional share of some of the other costs associated with the property as well, such as property taxes, utilities, insurance, and maintenance.
A triple net lease is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.
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