Retail in Phoenix is outperforming the national market. A new report shows the retail vacancy rate in Phoenix has dipped below 10%, and with the rising demand has come increased rental rates. Overall, rates have climbed 3.2% over last year, but in the most popular submarkets, which include Downtown Phoenix, Scottsdale and Northwest Phoenix, rents …
The cycle is mature—so mature that many are predicting a recession in the next 12 months. The mature cycle has meant peak pricing in many top markets, and as a result, investors have fled to secondary markets to chase yield, and Phoenix has been a favorite. In prior cycles, Phoenix has been a final play …
A new large-prototype Starbucks has trades hands in Phoenix. The single-tenant property is a brand-new, 3,100-square-foot building with drive-thru. It traded hands for $3 million or $988 per square foot. The impetus for the large-format floor plan is to create a better experience and provide the community a place to hang out. Originally Posted …
Pop-up retail concepts are arriving in Phoenix—and the trend says a lot both about the evolution of Phoenix and the pop-up trend. Pop-up shops have become popular and even accepted by retail owners and lenders in primary markets like Los Angeles and San Francisco, but this is early trend in a secondary market, like …
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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