Over 60 companies in the automotive and semiconductor industries, mostly from Taiwan, Singapore, Japan, New Zealand, Switzerland, and Ireland, converged in Phoenix for expansion opportunities, marking the city’s first time hosting a spinoff event from the annual SelectUSA Investment Summit. The event, which was the largest business delegation ever hosted by the Greater Phoenix Economic Council, was held in April, and focused on the electric and autonomous vehicle and semiconductor industries. Participants learned about networking with industry leaders, roundtable discussions, tours and presentations on education, workforce and expanding and operating in the US and Phoenix region. Phoenix’s pitch for the delegation focused on its growing workforce and location convenience.
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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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