Source: Lucy Nicholson, CNBC Oil prices jumped 2.4% this week after a drone attack by Yemeni Houthi forces on a Saudi oil facility. The attack caused a fire at a gas plant. Meanwhile, OPEC cut its forecast for global oil demand growth by 40,000 barrels per day. The group also predicted that the market …
Source: Nick Cunningham, OilPrice.com Oil prices fell sharply last week. However, rumors that Saudi Arabia will take action to stop prices from falling further was enough to stabilize prices in the short-term. Saudi Arabian energy officials provided no details, but commented that the kingdom is considering “all options” to help bolster oil prices. …
August 9, 2019 $200 million development coming near Hartford’s Dunkin’ Donuts Park Source: Kenneth R. Gosselin & Steven Goode, Hartford Courant A judge’s ruling has cleared the way for a stalled retail and housing development in Hartford, CT to finally get underway. The project will include 200 mixed-income apartments, 11,000 square feet of …
Source: CNBC Escalating trade tensions between the U.S. and China continue to weigh heavily on oil markets. Brent crude prices have lost more than 9% in the past week, and the index currently sits at a 7-month low of around $60 per barrel. However, a Reuters poll shows that U.S. crude inventories are expected …
August 5, 2019 PepsiCo distribution facility coming to southeastern Indianapolis, IN Source: Mickey Shuey, Indianapolis Business Journal Developer Scannell Properties has plans to build a $14.5 million distribution and warehouse facility in southeastern Indianapolis. The warehouse will be constructed for PepsiCo Inc., which currently has several facilities around the city. The facility will …
August 1, 2019 Livonia and Grand Rapids make the list of the 10 hottest real estate markets Sources: Steve Pepple, Detroit Free Press Source: Clare Trapasso, Realtor.com According to Realtor.com, Livonia, MI is the hottest real estate market in the Metro Detroit area. The area is so popular that Livonia’s 48154 zip code …
August 1, 2019 New tenant signs lease in Tampa, FL last-mile fulfillment center Source: Ashley Gurbal Kritzer, Tampa Bay Business Journal Harper Limbach has signed a lease for over 31,000 square square feet of space in the downtown Tampa Fulfillment Center. The company delivers mechanical, electrical, and plumbing control systems. The property, which …
July 31, 2019 East Baltimore, MD warehouse sells for $7.8 million Source: Melody Simmons, Baltimore Business Journal A 200,000-square-foot warehouse in East Baltimore has sold for $7.8 million. The property was purchased by SK Realty Management, an investment firm based in New York. The property is located a few miles from the Port …
July 31, 2019 Michigan road construction workers go on strike Source: Kurt Nagl, Crain’s Detroit Heavy machine operators in Michigan went on strike today. The workers are protesting the labor practices of Rieth-Riley Construction. Rieth-Riley is based in Indiana, but is a road paver and asphalt supplier in Michigan and has an administrative …
Source: CNBC Expectations that the U.S. Federal Reserve will soon cut interest rates have bolstered oil prices. Central bankers will begin their two-day meeting today and are expected to cut interest rates for the first time in more than 10 years. Such a move would lower borrowing costs, which would support fuel consumption across …
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