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Commercial Real Estate & Business News May 4, 2018

The national construction unemployment rate was 7.4 percent, the lowest national March rate on record. At the same time, the construction industry employed 246,000 more workers this March than in March 2017, ABC reported…»

Small businesses make up nearly 95 percent of all of the businesses licensed in Phoenix that have less than 50 workers. The city of Phoenix thinks of small businesses as leaders and drivers of innovation. Phoenix Community and Economic Development Director Christine Mackay said the Phoenix area has such a high concentration of small businesses because of the opportunities that exist here for entrepreneurs…»

Arizona’s tallest building, Chase Tower, was recently acquired by a partnership group that includes Phoenix-based Wentworth Property Company. The 40-story tower in downtown Phoenix was acquired with a bid for $78.8 million…»

Downtown Phoenix’s newest hotel has opened its doors – just in time to be sold for $44 million. The 11-story, 210-room Hampton Inn & Suites by Hilton opened May 3 at the corner of First and Polk streets just north of the Freeport-McMoRan building, which also houses the Westin Hotel…»

Constructed in 2012, the 34,000-square-foot property is 90 percent occupied by Banner Medical Group and the Center for Orthopedic Research and Education Inc. A partnership of American Healthcare Investors and Griffin Capital Company LLC-the co-sponsors of Griffin-American Healthcare REIT IV Inc.-has acquired Surprise Medical Office Building, a Class A facility that is part of a 756-acre master-planned community in the Northwest Valley of Phoenix, for $11.7 million…»