Corporate/Finance: Page 7
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Sustainability upgrade value could offset office fit-out costs as price increases slow
Green energy solutions and low-carbon materials could offer long-term returns on investment, according to fit-out guides by CBRE, Cushman & Wakefield and JLL.
By Joe Burns • Updated June 12, 2024 -
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Insurance costs of US commercial buildings could jump almost 80%, on average, by 2030: Deloitte
To combat rising costs, driven by increasing climate risks, property owners should consider prevention measures, self-insurance and relocation, a report says.
By Joe Burns • June 7, 2024 -
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JLL taps Kristen Vosmaer for its Work Dynamics data center business
The firm says hiring the former GLP executive will help it meet client demand as the data center industry experiences “massive, unprecedented growth.”
By Joe Burns • Updated June 5, 2024 -
Spencer Platt via Getty Images
Honeywell acquires Carrier’s Global Access Solutions business for $4.95B
The LenelS2, Onity and Supra brands of physical security and access control systems are among the products the acquisition adds to Honeywell's portfolio.
By Nish Amarnath • June 4, 2024 -
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BrainBox AI snaps up automation division from Turntide
The transaction adds more than 1,900 connected buildings to BrainBox AI's network and enhances the automated building firm's climate tech efforts, it says.
By Joe Burns • May 31, 2024 -
Cushman & Wakefield taps JLL exec to lead global IFM services
David Bukovac will now lead integrated facilities management within Cushman's global occupier services group after two stints totaling more than 15 years at JLL.
By Nish Amarnath • May 29, 2024 -
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US HVAC leaders see Q1 sales growth, production hurdles
Carrier, Lennox and Trane saw increased sales and backlogs in the first quarter, driven by commercial energy efficiency measures, growing data center demand and expanded maintenance and service pipelines.
By Joe Burns • May 28, 2024 -
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Modine’s data center sales jumped 69% in FY 2024 amid demand from hyperscalers
The company’s data center sales are expected to grow by 60% to 70% in fiscal year 2025, stemming from organic growth and the positive impact of recent acquisitions, Modine CFO Mick Lucareli said.
By Nish Amarnath • May 23, 2024 -
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Microsoft plows $3.3B into data center at former Foxconn site
The software giant, which previously committed $1 billion to the project, has increased its promised expenditure amid a surge of data center activity.
By Matthew Thibault • May 22, 2024 -
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JLL to acquire data center design, engineering services firm SKAE
The New York-based firm will combine with JLL’s data center vertical to form a new technical services division and add technical depth to its offerings, JLL says.
By Joe Burns • May 16, 2024 -
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Clean energy tax credit market poised to grow under new transferability rules
The transferability mechanism makes it easier for clean energy project developers and owners to sell IRA tax credits for cash.
By Brian Martucci • May 16, 2024 -
Retrieved from Phillips 66 press release.
Freewire Technologies on the verge of terminating operations
The EV charging supplier, which works with Chevron, Phillips 66 and other c-store retailers, is seeking funding amid financial challenges.
By Brett Dworski • May 14, 2024 -
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Effective vendor solicitation grows more important amid labor challenges
As construction costs spike and the workforce ages, improved scope of work documents can better attract quality experts while maintaining budget, a speaker at IFMA's Facility Fusion said.
By Joe Burns • May 9, 2024 -
"Jones Lang LaSalle (JLL) in Pittsburgh, Pennsylvania" by Tony Webster is licensed under CC BY-SA 2.0
JLL’s Work Dynamics, property management businesses fuel Q1 revenue growth
Workplace management revenues within Work Dynamics climbed 15% while U.S. office leasing volumes rose 14% in the first quarter of 2024, with many occupiers looking to upgrade space, the company said.
By Nish Amarnath • May 7, 2024 -
CBRE sees facilities management, project management net revenue growth, leasing rebound in Q1
Costs in the firm’s global workplace solutions segment “have increased at an unacceptable rate,” however, prompting cost-cutting actions, CEO Bob Sulentic said.
By Joe Burns • May 6, 2024 -
Johnson Controls’ North America applied HVAC and controls orders grow nearly 50% in Q2
Data center orders in the first half of 2024 have already surpassed 2023 totals and similar growth is expected over the next few years, CEO George Oliver says.
By Joe Burns • May 2, 2024 -
Permission granted by Cushman & Wakefield
Cushman & Wakefield posts 5% leasing revenue growth amid overall Q1 decline
Revenue from its property, facilities and project management segment, renamed services, dropped 3%, but mid-sized office and industrial leasing grew in all sub-regions across the Americas, the company says.
By Nish Amarnath • April 30, 2024 -
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Johnson Controls gets ahead of sustainability, emissions reduction goals
The company has reduced scope 1 and scope 2 emissions by 44% since 2017 while reducing safety incidents and increasing diverse supplier spending, according to its 2024 sustainability report.
By Joe Burns • April 29, 2024 -
Permission granted by Schneider Electric
Data center demand drives Schneider Electric’s Q1 revenue growth in North America
Despite supply constraints and discrete automation weaknesses, solid traction in energy management and renovations of commercial buildings are driving a positive outlook in 2024, the company says.
By Nish Amarnath • April 29, 2024 -
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Honeywell’s building solutions business grows in first quarter, despite year-over-year declines in building, industrial automation
Lower volumes in warehouse and workflow solutions, driven by subdued investments in automation, spurred a decline in industrial automation sales, CFO Greg Lewis says.
By Joe Burns • April 26, 2024 -
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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 -
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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 -
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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 -
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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
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