Commercial Real Estate & Business News – July 14, 2016

The chill Brexit is sending through Britain’s real estate market could end up warming the hearts of investors in US commercial property. That, in a nutshell, is the view of Michael Hudgins, global strategist at EII Capital Management, an asset manager specializing in real estate. …»

A potential arena venture involving the Arizona Coyotes hockey team and Arizona State University is still in the works. That arena could be part of a larger development adjacent to ASU’s main campus in Tempe on the Karsten Golf Course off Rio Salado Parkway just east of Scottsdale/Rural Road.…»

Royal Palms Resort & Spa, a swank Phoenix hideaway with a rich history, has been sold to Hyatt for $88.25 million. The sale, announced in June with no price tag, closed today. Hyatt says the Royal Palms will be part of the chain’s new Unbound Collection by Hyatt…»

Once a sleepy railroad stop, Phoenix began to grow with new residents in the early 1900s. At that time, East Roosevelt became one of the first neighborhoods to emerge and by the 1920s, it was a streetcar suburb. Craftsman and California bungalows along with Period Revival houses were popular housing designs …»

At the Florida Mall in Orlando, Nordstrom was torn down and replaced with a Dick’s Sporting Goods store and a crayon-based family attraction called the Crayola Experience. The Saks Fifth Avenue was demolished, too, to make way for a dining pavilion with 23 restaurants. And Lord & Taylor was carved into space for American Girl, H&M, Forever 21 and Zara. Once the linchpin of American shopping malls, department stores are being displaced…»