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Low oil prices and Denver's downtown office market: What lies ahead?

2014-12-25 00:55:14| Oil & Gas - Topix.net

Low oil prices, which have dropped about 45 percent since last summer to less than $60 per barrel, are unlikely to cause much of a ripple through Denver's downtown office market in the immediate future, according to Anthony Albanese , the Denver-based vice president of the energy facilities group for commercial real estate firm CBRE . His team looked at the downturn in oil prices, which was selling for a high of $106 per barrel on the New York Mercantile Exchange in July, and how lower commodity prices might affect the office market in Denver and Houston, which bills itself as the energy capital of the world.

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