The recent failures of Silicon Valley Bank, Signature Bank, and First Republic Bank are expected to accelerate the closure of local bank branches, which have been dwindling in number for some time. The closures are likely to occur as acquisitions reduce the overall number of banks. The National Community Reinvestment Coalition (NCRC) warns that banks of similar size to the collapsed ones might face similar challenges. However, retail brokers and some experts believe that the decline in branches may not be a cause for concern, as banks recognize the value of a physical presence on Main Street and vacant spaces can be easily repurposed.
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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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480.947.0600
4414 N. Civic Center Plaza #100 Scottsdale AZ. 85251
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480.947.0600
4414 N. Civic Center Plaza #100 Scottsdale AZ. 85251