Commercial Real Estate & Business News – August 11, 2016

The Embassy Suites by Hilton Scottsdale Resort has reopened following a $25 million renovation. Formerly Chaparral Suites, the hotel is the brand’s sixth property in the metropolitan Phoenix area. It is owned by Snyder Nationwide Real Estate Inc. and managed by Crescent Hotels & Resorts. Embassy Suites by Hilton is a global brand of all-suite hotels from Hilton Worldwide. …»
No where have the economic forces of creative destruction been harder at work than in the U.S. retail market. Lately the sector has been a case study in contradictions, marked by the growing demand from an emerging set of new retailers that have added hundreds of new stores across the country, even as many established chains in the old order scale back, close stores or go bankrupt.…»

Late last month, The Corner at CityScape in downtown Phoenix announced it would be closing its doors. The owners of the restaurant concept wrote a goodbye to patrons on their Facebook page: “Today we will close our doors for the last time. Thank you from all of us here to Downtown and beyond.…»

Second quarter bank earnings results and early third quarter lending numbers clearly show U.S.-based banks have tightened their underwriting standards for CRE loans as they face increased scrutiny of their commercial real estate lending from bank examiners. …»

Major equity REITs, which began the year in aggressive sales mode seeking to capitalize on strong investor interest in real estate and peak prices by selling more than twice the amount of properties they acquired, are now signalling this period of heightened disposition activity may be winding down. …»