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 …
Construction work has begun at Papago Plaza, a redevelopment project near McDowell and Scottsdale roads in south Scottsdale. Final grading is being done onsite for installation of electrical and water lines. Pivot Development, which is developing the hotel, restaurant and retail space at Papago Plaza, began razing the former shopping center in late 2019. Some iconic …
Construction work underway at Papago Plaza redevelopment in Scottsdale Read More »
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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