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Retail News / Gas Pain Relief

July 11,2014

Screen Shot 2014-07-11 at 12.32.56 PMTulare To Get Forever 21 Store

The community of Tulare will get a Forever 21 clothing store at the outlet mall. Bidding on tenant improvements on a remodel of a 7618sf store  – the former Ralph Lauren Polo space at the mall – has been completed as of July 9 with the store expected to open late this summer. Polo closed their location in Tulare in March.

Hanford Costco To Get Hearing July 24

Hanford City Manager Darrel Pyle says the city Planning Commission will take up the final EIR for the new Costco shopping center at Hyws 43 and 198 on the east side of town on July 24. That will be followed by a City Council hearing in August. Pyle expects construction to start by year end with the popular retailer to open in fall 2015.

Tulare Digester Could Start Construction in September

Colony Energy VP Matt Schmitt says the $25 million anaerobic digester  project near the WWT plant in Tulare could start construction by the end of summer. “We are finalizing the site plan with the City of Tulare  as well as the ground lease.” Schmitt says the biogas project could take about year. “We will be one of the first to inject biogas into the pipeline grid.” The biomethane,used in transportation – will be sought after by companies wanting to lower their greenhouse gas footprint. The biogas will be produced from a mix of green waste, food waste and cow manure.

Gas Pains Relief

Local wholesale price drops have finally brought a little gas price relief in many areas of Southern California, according to the Automobile Club of Southern California. The retail state average is $4.128 a gallon for regular today, 1.2 cents less than last week.
Gas Buddy says statewide the average price has dropped about 2 cents in recent days. Several stations in Tulare are selling gas for $3.75.
Helping to lower the pump price is falling oil futures this week as concern over the Iraq war have eased fears it would affect supply here. Bloomberg says “new U.S. pipelines and a revival in Libyan supply are increasing the likelihood that oil prices will slump through year-end after climbing in the first six months.
Wall Street analysts tracked by Bloomberg predict West Texas Intermediate oil will average $100 a barrel in the fourth quarter, down 5.1 percent from June 30.”
“Wholesale gasoline prices have dropped locally by more than 30 cents a gallon in the last two weeks, indicating a more steady fuel supply,” said Auto Club spokesman Jeffrey Spring this week. “If this trend holds, we can expect to see more drops at the pump.”

Chinese Lead U.S. Home Sales to Foreigners

RealtyTrac reports that international buyers spent $92.2 billion in 2013 on U.S. properties, up from $68.2 billion a year earlier, a 35 percent jump, according to the National Association of Realtors.
The increase in international sales was fueled by a 72 percent increase in activity from Chinese buyers, who purchased $22 billion in U.S. real estate, or 24 percent of total foreign sales.The report — titled “2014 Profile of International Home Buying Activity” — found that Chinese buyers’ favorite state is California, which accounted for 35 percent of sales.

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