Merit Partners Inc. has filed a pre-application to build a 578,417-square-foot industrial park named Legacy Business Park in Mesa, situated on 42 acres at the corner of Pecos and Crimson roads. This proposal entails annexing and entitling the property within the city of Mesa, currently in Maricopa County jurisdiction. The industrial park would house businesses involved in distribution, e-commerce, aerospace, logistics, and manufacturing, among others. The proposed site is near the upcoming regional corporate headquarters for DSV Air and Sea Inc. and south of Legacy Sports Park. As of mid-2023, the southeast valley is a booming industrial area in the Phoenix metro, with over 16.7 million square feet of industrial space under construction, particularly around the airport.
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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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