Lazydays Holdings Inc. (NasdaqCM: LAZY) has acquired the Orangewood RV Center in Surprise, Arizona, renaming it Lazydays RV of Phoenix at Arrowhead. This acquisition marks the company’s fifth in 2023 and increases its total locations to 24 nationwide. The estimated annual revenue from the Surprise location is $40 million. Lazydays had previously planned a dealership in Surprise, named Lazydays RV of West Phoenix, but it’s unclear if this is still in progress. The acquisition came after the company canceled plans to raise $100 million and slowed its national expansion.
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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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