A transformative project, “The Ranch,” is poised to break ground in Gilbert, spanning 300 acres for a diverse development mix, including industrial, retail, restaurants, and multifamily components. Led by IndiCap, Colmena Group, and Langley Properties, the groundbreaking is scheduled for May or June. Initially met with opposition for its industrial emphasis, the project’s revised plans gained community and council support, now featuring multifamily units and walkable amenities. The development, valued at over $1 billion upon completion, aligns with the broader trend of billion-dollar projects shaping the East Valley’s growth.
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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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