What are Parkviews Lease Rates?
Parkview currently has three lease rate structures. 1. The first rate structure is a “gross lease”, in which everything is included (gas, electricity, water and all common area maintenance expenses (“CAM’s”). You pay one amount at the beginning of each month, and that’s it. The typical expenses associated with a triple net lease (where the tenant pays for its’ own gas, electricity, water and proportionate share of taxes and other common area expenses is over $6.00 per square foot. To compare a gross lease to a triple net lease one needs to add in that additional expense to the triple net lease. Our gross lease rates, when appropriately corrected for these additional costs, are typically much lower than any other comparable properties in this area, and in fact are close to what one would pay for warehouse space. 2. The second rate structure is a “modified gross lease.” Under the the modified gross lease the tenant pays the base month rent and is responsible for the electricity expense a
