The East Valley has become a hub for advanced manufacturing, driven by the completion of Loop 202 and State Road 24, which have attracted clusters of big-name companies, particularly along the Price Road corridor and near Phoenix-Mesa Gateway Airport. A skilled workforce supports this growth, and further investment in new transportation corridors is expected to expand opportunities in areas like Queen Creek and Pinal County. Developers like IndiCap are capitalizing on this growth with major projects, such as the Eastmark Center of Industry and The Ranch in Gilbert, encompassing over 4 million square feet of industrial space. Chandler, nearly built out, is strategically pursuing new manufacturers, while the Phoenix-Mesa Gateway Airport Authority is investing in infrastructure to attract more business and potentially a legacy airline carrier. The airport’s growth is anticipated to support more regular flights into larger hubs.
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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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