Rinchem Co. LLC has expanded its presence in the Phoenix metro area with a new chemical warehouse to support the semiconductor industry’s growth, featuring extensive storage facilities and specialized services. Partnering with Graycor Construction Co. and Archicon Architecture + Interiors LC, Rinchem aims to bolster the local semiconductor industry’s supply chain and contribute to regional economic development. Additionally, Navitus Health Solutions LLC and Lumicera Health Services have inaugurated a new facility in Scottsdale, emphasizing their commitment to specialized medication distribution. Furthermore, renovations are underway at Christown Spectrum mall in Phoenix, welcoming new tenants like Five Below and Burlington, with Hobby Lobby slated to join later. Finally, Ryan Cos. has completed the second phase of Friendship Village Tempe, introducing new residences and amenities to the retirement community.
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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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