Development

Cavasson

Senior Living, Apartment Complex Among Next Planned In North Scottsdale Cavasson Project

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A residential health care facility and a 400-unit apartment complex are among the next planned developments at Cavasson, the master-planned development in north Scottsdale. Vi at Cavasson will include a four-story main building several other buildings with villas and amenities, according to documents submitted to the city of Scottsdale. The plans call for the facility …

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Planning Panel to Consider Entertainment District Plan

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A proposed redevelopment of much of downtown Scottsdale’s Entertainment District will go before the city’s Planning Commission on Tuesday, Oct. 27. The Scottsdale Collection would replace a handful of bars, clubs and office space with 580,000 square feet of commercial space, hundreds of apartments and hotel rooms and buildings as tall as 150 feet. The …

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Development near Phoenix Goodyear airport

2.7 million-square-foot office and industrial park proposed near Phoenix Goodyear Airport

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  A massive office and warehouse park, called Airpark Logistic Center, planned near the Phoenix Goodyear Airport could begin rising this fall. The project will include five buildings along Yuma Road and Bullard Avenue in Goodyear totaling 2.7 million square feet on 170 acres, according to plans submitted to the city of Goodyear. The buildings, …

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Rendering of the Grove

Construction begins on Phoenix redevelopment that includes Sam Fox hotel

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  Construction is underway on the Grove, a 15-acre development that includes Sam Fox’s first hotel, Global Ambassador, along with the Phoenix Suns and Phoenix Mercury practice facility and will yield another 180,000 square feet of Class AA office space. Demolition on the site, located at 44th Street and Camelback, has been completed, along with initial site …

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Why Industrial Remains Healthy for These Four Markets

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The sectors in Austin Seattle, Phoenix and Miami may be running at different temperatures, but the fundamentals suggest they’re not overheating.     Strong demand is likely to fill millions of square feet of industrial space now under construction, according to “Industrial Trends in Austin, Seattle, Phoenix and Miami,” a new report by CommercialEdge, a research and marketing …

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Sports facility in Mesa

Mesa to be home to largest privately-owned multisport facility in the country

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  Construction is set to begin on a humongous sports facility in the Southeast Valley. Legacy Cares Inc., an Arizona based nonprofit organization, closed last week with boutique investment bank Ziegler on $250.77 million financing to build the family sports and entertainment complex in southeast Mesa. The development, which will be called Legacy Sports Park, …

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Phoenix MOB development

Phoenix MOB May Be Redeveloped into Hotel

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  Developer, The Terrance A Plas Company, recently submitted plans to the City of Phoenix to redevelop an existing medical plaza located at the NWC of McDowell Road and 12th Street, into a new 71.7KSF hotel.  The hotel, to be called The McDowell Hotel according to the project documents, will sit on approximately 1.58 acres adjacent to the Coronado Neighborhood.  “One of the major goals of The …

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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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