This fall, Verrado in Buckeye will welcome Sunrise Market, a new retail center spanning 35,000 square feet near Main Street. Developed by Hervé Sarteau of HCCJ Family Partners, it has secured 80% of its space, featuring diverse dining options and services. Negotiations for additional leases are ongoing, with the grand opening slated for October 2024. With an investment exceeding $20 million, the project is expected to create 200 new jobs. Designed for pedestrian accessibility and community integration, Sunrise Market reflects Verrado’s commitment to a “walkable” environment, complementing its existing amenities and future expansion plans.
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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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