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First Retail Tenants Announced for Asante in Surprise

Scottsdale-based SimonCRE is set to begin construction on the first phase of the Asante Trails retail development in Surprise, investing $50 million for 50,000 square feet of shops. Part of a larger 90-acre mixed-use project, the development will anchor the Asante master-planned community, featuring a new HonorHealth hospital,

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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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