Corporate/Finance
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EV Realty, GreenPoint Partners to develop multi-fleet EV charging hubs
The $200M joint venture will drive a “rapid buildout” of high-powered commercial EV charging facilities serving local and regional delivery, service and logistics fleets.
By Brian Martucci • April 19, 2024 -
Andrey Semenov via Getty Images
Nucor launches data center division with $115M acquisition
The acquisition of Southwest Data Products' offices and manufacturing facility will expand the capabilities of Nucor's Warehouse Systems business, the company says.
By S.L. Fuller • April 18, 2024 -
Retrieved from Ecotrak on April 17, 2024
Ecotrak gets $30M to accelerate facilities management software development
The funding will enhance its platform for multi-site businesses, driving operational efficiency and returns on investment for its customers, the company says.
By Nish Amarnath • April 17, 2024 -
Douglas Rissing via Getty Images
Federal real estate optimization proposed in Biden FY25 budget
The U.S. General Services Administration would receive $425 million to right-size its portfolio; revamp structures in the Washington, D.C., area; improve digital services; and ditch unused properties.
By Nish Amarnath • April 2, 2024 -
Alacatr via Getty Images
NFPA launches new solutions, advisory services corporation
NFPA Global Solutions will help customers demonstrate compliance with fire and electrical safety codes, standards and regulations via testing, inspection and certification.
By Joe Burns • April 1, 2024 -
Courtesy of Northrop Grumman
JLL secures Northrop Grumman facilities management contract
The real estate services firm says it will provide strategic sourcing and management for the aerospace and defense technology company.
By Nish Amarnath • March 27, 2024 -
JLL, HES, Sodexo, others sign university facilities management contracts
While technology has helped institutions expand their maintenance coverage, chronic funding shortfalls continue to place operations at risk.
By Joe Burns • March 26, 2024 -
Zolnierek via Getty Images
Developer sues Minnesota contractor after $735K payment disappears
Court documents point to “one or more insiders” who allegedly diverted funds by accessing an executive’s email and doctoring a notary's stamp of approval.
By Matthew Thibault • March 22, 2024 -
Permission granted by Schneider Electric
To meet data center demand, Schneider Electric plans manufacturing expansion
The $85 million investment in two Tennessee facilities will start having an impact this year, the company said.
By Joe Burns • March 18, 2024 -
Onurdongel via Getty Images
Ample funding opportunities drive growth, rent hikes for life sciences space
Vacant space has intensified pressure for building owners and operators, while tenants find more options and opportunities.
By Joe Burns • March 12, 2024 -
Retrieved from Montana Technologies on January 10, 2024
GE Vernova, Montana Technologies form dehumidification joint venture
Montana’s AirJoule technology, when paired with GE Vernova’s sorbent materials and coating process, could significantly lower HVAC energy consumption for many applications, the companies say.
By Nish Amarnath • March 12, 2024 -
ABB eyes US expansion with purchase of facilities management firm in Ohio
The acquisition will build on an ongoing strategy to broaden electrification services in the U.S. through “significant additional expertise” in maintenance, electrical safety and renewables, ABB says.
By Nish Amarnath • Feb. 29, 2024 -
AndreyPopov via Getty Images
Work Dynamics’ robust performance drove Q4 revenue growth, JLL says
Fee revenue for the firm’s leasing business shrank 15% in 2023, with occupiers exercising caution, but CEO Christian Ulbrich anticipates “green shoots” in the commercial real estate market.
By Nish Amarnath • Feb. 28, 2024 -
Dmytro Kuznietsov via Getty Images
Modine to acquire data center, IAQ-focused air handling manufacturer Scott Springfield
The purchase will expand Modine’s portfolio and manufacturing footprint and provide cross-selling opportunities for its existing chiller portfolio.
By Joe Burns • Feb. 27, 2024 -
Permission granted by Schneider Electric
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 -
Sean Gallup via Getty Images
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 -
Permission granted by 32BJ SEIU
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 -
dkfielding via Getty Images
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 -
Pgiam via Getty Images
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 -
Permission granted by Tim Farquer
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 -
Noah Berger / Stringer via Getty Images
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 -
Riccardo Savi via Getty Images
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
