Two LR developers to team on projects
Newmark Moses Tucker Partners and the Lasiter Group, both Little Rock development companies, have announced they will formally work together on brokering, managing and developing commercial properties.
The strategic partnership was formed after previous collaborations, particularly on downtown Little Rock projects, according to a news release.
Their latest collaboration is the Villa Vue apartments at 13th and Scott streets and the Rose Building apartments on Main Street, on which Lassiter is nearing completion. Newmark will lease and manage both properties.
Newmark, which also has offices in Fayetteville and Bentonville, and Lasiter together manage 6.7 million square feet of commercial space, which means "we expect the synergy between the [two] groups to be significant," Chris Moses, the president and chief executive officer of Newmark, said in the release.
Lasiter Group has moved its offices to 200 River Market Ave., where Newmark has its headquarters.
-- Noel Oman
Truckers' hauls drop 1.8%, index shows
The American Trucking Associations' seasonally adjusted Truck Tonnage Index fell 1.8 percent in August from the previous month, but was up 4.5 percent over August 2017. Year-to-date, tonnage has risen 7.6 percent, double the 3.8 percent gain for all of 2017.
Trucking serves as a barometer of the U.S. economy, as more than 70 percent of tonnage is carried by all modes of domestic freight transportation.
In a news release Tuesday, the association said trucking remained solid in August despite the decline from July. The year-over-year increase was the smallest since July 2017, and was attributed to a surge in freight tonnage hauled by fleets that began a year ago. Trucks hauled 10.77 billion tons of freight in 2017, and accounted for 79.3 percent of total revenue earned by all carrier modes.
The monthly tonnage index is based on surveys of the organization's membership.
-- Serenah McKay
Index rallies to end day with 2.05 gain
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, climbed 2.05 to 459.79 Tuesday.
"Consumer discretionary, technology and industrial stocks helped Wall Street bounce back on Tuesday as investors looked past the escalating trade rhetoric between the United States and China," said Chris Harkins, managing director with Raymond James & Associates in Little Rock.
Total volume for the index was 16.8 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 09/19/2018