Mountainside Fitness is set to open its 20th location, a 40,000-square-foot studio in Avondale, hosting a preview party on Feb. 24. The new center will feature separate group fitness studios, a tiered cardio platform, a strength floor, a large child-care area, locker rooms, saunas, steam rooms, and a cold plunge. It will also include an M Café, similar to other Mountainside Fitness locations. Meanwhile, Houston-based Banner Health sold three medical office buildings to Stockdale Capital Partners for a total of $32 million in sale-leaseback transactions. Additionally, Thompson Thrift acquired nearly 20 acres in Maricopa for a new shopping center, and Chicanos Por La Causa will break ground on a mixed-use development in downtown Mesa.
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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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