Commercial Real Estate & Business News – April 10, 2017

Construction employment increased by 6,000 jobs in March as a February hiring surge prompted by mild winter weather in much of the country prompted firms to hire fewer people last month, according to an analysis of new government data by the Associated General Contractors of America. Association officials said declining public-sector investments in construction and infrastructure could impact future construction hiring unless the administration and Congress enact a new funding measure...»

Led by hospitals, the state's biggest non-government employers added about 14,000 people to their payrolls over the past year and now collectively count more than 532,000 workers - a 2.8 percent annual increase, according to The Arizona Republic's annual tally...»

With over 3.0 million square feet of positive net absorption in 2016, Phoenix ended the year with the second highest total in the U.S. and looks to continue that trend into 2017. Absorption in the first quarter was led by the Tempe (596,248 s.f.), Airport Area (189,316 s.f.) and Chandler (123,183 s.f.) submarkets...»

Goodwill Industries of Central Arizona, Inc. and Goodwill Industries of Northern Arizona have officially merged.  The organizations will combine operations immediately. The new organization will be called Goodwill of Central & Northern Arizona and will include 82 stores, three clearance centers, 22 career centers and employ more than 3,500 employees throughout the Phoenix area, Prescott, Yuma, Flagstaff, Sedona, Cottonwood, Kingman, Lake Havasu and Bullhead City...»

Roughly 40 percent of the nation's roads and major highways are not considered to be in good condition, and about 70,000 of U.S. bridges are structurally deficient. During the 2016 presidential campaign both candidates seized on our failing transportation infrastructure, each promising heavy investments to rebuild roads and bridges...»

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