HCW Development is completing the Caesars Republic Scottsdale, an 11-story luxury hotel with 265 rooms and a $112 million budget, adjacent to Scottsdale Fashion Square. The project includes 20,000 square feet of event space, a ground-floor restaurant by celebrity chef Giada De Laurentiis, and various high-end amenities. HCW, with an 80-year land lease from Macerich, plans to develop more Republic hotels in cities like Los Angeles and Dallas in partnership with Caesars. The hotel, part of the post-pandemic hospitality resurgence, reflects a growing trend in hotel construction in the Valley, with 26 hotels currently under construction and 86 in planning. The project was financially supported through a joint venture of Bank of Arizona and Equity Bank of Wichita.
Menu
More Information
Frequently asked questions
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.
Helpful blog posts
Menu
480.947.0600
