Stevens-Leinweber Construction (SLC) is building Tex Industrial, a 17.2-acre project within the PV303 business park in Goodyear, Arizona, for Merit Partners Inc. This development includes two Class A industrial buildings: a 100,737-square-foot North building and a 132,475-square-foot South building, featuring 36’ clear heights, 60’ speed bays, and secured truck courts. Together, the buildings offer a variety of bay sizes, 38 dock-high and 14 drive-in doors, and parking for 324 autos and 32 trailers. Positioned near Loop 303 and Interstate 10, the project is within a 30-minute drive to a workforce population of 1.3 million. Tex Industrial is designed by Cawley Architects, with SLC serving as the general contractor. The project provides mid-size industrial spaces with Class A amenities, adding diversity to the area’s industrial offerings.
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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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