Elevation drawing by SPS Architects of Sonoran Creek Marketplace
By InMaricopa | Jay Taylor
What do Maricopans want more than anything?
More shopping and restaurants.
So why aren’t they getting them?
Among the reasons is there simply isn’t enough retail space, according to experts.
A search on commercial real estate site Loopnet.com in November showed just seven retail spaces available for lease in Maricopa —two of which have yet to be built.
One of the seven is the 2,800-square-foot former Sunrise Diner site in Maricopa Marketplace, which is listed for lease at $25 per square foot per year. That makes the monthly rent more than $5,800.
But the lease type is “triple net,” a commercial real estate term denoting three expenses — property insurance, maintenance and taxes — that are added to the lease price by landlords. With the triple-net costs included, the Sunrise Diner space would run more than $7,000 a month.
Commercial Café, another website specializing in commercial real estate, shows five available retail spots. Three of those are 6,595-square-foot storefronts in Edison Pointe listed at $35 per square foot. That makes the annual lease payment $230,825, or $19,235 per month. With triple-net terms, the rate is more than $24,000 per month.
Commercial real estate experts say Maricopa is a good market for retail but it‘s youthfulness influences pricing.
