Potential industrial developments are on the horizon in the western Phoenix area, where a major logistics company is considering a new facility. The location’s proximity to the airport and a key highway has made it attractive for industrial growth. The city council is scheduled to vote on annexing the site, reflecting a broader trend in the region. Furthermore, another substantial industrial annexation is under consideration, signaling an increasing interest in expansion in this area.
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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