Schneider Electric expects to slash scope 2 emissions with tax credit deal

Schneider says the tax credit transfer agreement with Engie, which leverages Inflation Reduction Act provisions, will accelerate scope 3 emissions reductions for its clients.

By Nish Amarnath • Feb. 23, 2024

Cushman & Wakefield’s property and facilities management revenue grows, leasing declines in 2023

Delayed occupier decision-making drove a 12% leasing decline in 2023. CEO Michelle MacKay and CFO Neil Johnston emphasized strategic planning and cost efficiency initiatives to navigate challenging market conditions. 

By Nish Amarnath • Feb. 21, 2024

Schneider Electric sees surge in energy management, system revenue in Q4 2023

AI developments and continued demand across the data center and infrastructure markets drove its fourth-quarter and full-year growth, according to the company’s latest earnings.

By Nish Amarnath • Feb. 16, 2024

CBRE facilities management services boom in Q4

In addition to strong growth from its Global Workplace Solutions segment, CFO Emma Giamartino says the firm expects leasing to grow modestly in 2024. 

By Joe Burns • Feb. 16, 2024

Multiple lawsuits target Johnson Controls across the US

The most recent suit, filed in a New York City federal court, alleges that the company is refusing to pay sales representatives commissions they are due.

By Joe Burns • Feb. 15, 2024

Building workers’ union members approve New York City contract with Realty Advisory Board

More than 99% of bargaining committee members who voted on the package approved the deal, which secures wage hikes, bonuses and improved retirement benefits.

By Nish Amarnath • Feb. 13, 2024

Washington, DC, readies tax abatement program for commercial-to-residential conversions

The incentive provides property owners up to $2.5 million for each fiscal year from 2024 through 2026 through a provision that a local attorney describes as “critical to the lifeblood of the city.”

By Nish Amarnath • Feb. 12, 2024

58% of top office leases were renewals in 2023: CBRE

The firm says the majority of these renewals came in the Mid-Atlantic region, attributing these commitments to lower office utilization-driven resizing.

By Joe Burns • Feb. 9, 2024

How can schools tap tax reimbursements for clean energy projects?

The Inflation Reduction Act’s “direct pay” provision allows tax-exempt entities like schools to receive federal tax-free cash payment for qualifying projects.

By Kara Arundel • Feb. 9, 2024

AWS expands data center footprint to absorb growing customer demand for AI

The hyperscaler is extending the life of its cloud servers to offset a planned increase in data center capital investments.

By Matt Ashare • Feb. 8, 2024

Trane Technologies piles up $6.9 billion backlog

The company’s CEO said a strong pipeline of commercial HVAC projects has led the business to play a larger role in its overarching financials.

By Joe Burns • Feb. 5, 2024

CBRE to buy facilities services firm for up to $1.05B

J&J Worldwide is projected to generate more than $525 million in revenue this year. The deal will help CBRE expand its government client base, the real estate services firm’s CEO says.

By Nish Amarnath • Feb. 5, 2024

Honeywell Building Technologies expands margin growth despite cost inflation

The segment’s overall sales were down 1% year over year despite a 6% growth in building solutions during that time, the company reported.

By Joe Burns • Feb. 2, 2024

Modine data center sales surge 34% in Q3

The company also saw a slight growth in performance technologies and a slight decline in climate solutions, with the latter attributed to lower heat transfer product sales.

By Nish Amarnath • Feb. 1, 2024

Cheesecake Factory, contractors agree to $1M settlement for underpaying 589 janitorial workers

The resolution includes $750,000 from the restaurant chain and $250,000 from the janitorial contractors accused of wage theft, the California Labor Commissioner’s Office says.

By Nish Amarnath • Jan. 30, 2024

How facilities managers will navigate the return-to-office landscape in 2024

While hard data on occupancy can inform office right-sizing, soft data like employee preferences are becoming key to improving workplace occupancy and tenant satisfaction.

By Joe Burns • Jan. 29, 2024

CBRE takes over property management of Brookfield Properties’ US offices

The agreement will leverage CBRE’s growing list of operational technology capabilities, as the firm launches a new investor portfolio management service.

By Joe Burns • Jan. 22, 2024

Eptura leans into accessibility to stand out in crowded workplace management market

As tenants and operators scout for office utilization data, ESG initiatives are increasingly factoring into technology and real estate decisions.

By Joe Burns • Jan. 17, 2024

Idaho governor proposes $2B to revitalize aging school infrastructure

Gov. Brad Little’s plan allocates $200 million per year to provide relief to districts struggling with maintenance, expansion and building security, a state representative says. 

By Nish Amarnath • Jan. 16, 2024

Carrier will commercialize ‘transformational’ AirJoule HVAC system from Montana Technologies

The agreement will potentially give Carrier exclusive rights to commercialize the technology across HVAC systems in the Americas for three years.

By Nish Amarnath • Jan. 10, 2024

$32M in school infrastructure grants awarded by US Education Department

Education departments in seven states and one U.S. territory received the grants. Inflation Reduction Act tax credits can also offset infrastructure upgrades, the Treasury Department notes.

By Joe Burns • Jan. 8, 2024

Modine expects liquid cooling IP purchase to drive data center market growth

The firm said the acquisition positions it to capture a share in the rapidly evolving data center liquid cooling market.

By Joe Burns • Jan. 4, 2024

JLL plans more cuts to Chicago-area office footprint

The firm put more than 20% of its space in a Chicago suburb up for sublease and plans to cut almost 30% of its space at its downtown headquarters. 

By Joe Burns • Jan. 3, 2024

80% of businesses plan to track office attendance this year, survey finds

Wi-Fi, occupancy sensors, under-desk sensors and badge swipes are among the strategies employers plan to use for tracking attendance.

By Emilie Shumway • Jan. 3, 2024

Trends that will define facilities management in 2024: 12 predictions

Net-zero goals, AI-driven automation, predictive maintenance and office right-sizing are some of what industry participants expect in the new year.

By the Facilities Dive Team • Jan. 2, 2024