Corporate/Finance
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State infrastructure ballot initiatives see mixed results
Approved bond funding and climate resiliency-focused state ballot measures could provide new ways for municipalities to fund improvements.
By Joe Burns • Nov. 11, 2024 -
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Data center boom sparks acquisitions, surging revenue for system, service providers
Service firms like CBRE and JLL have bolstered their technical support capabilities, while HVAC and system controls providers rake in profits from colocation and hyperscale customers.
By Joe Burns • Nov. 8, 2024 -
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Johnson Controls reports +20% growth in applied HVAC and controls
The company’s fourth quarter sales organically rose 10% year over year, led by strength in North America data center sales.
By Joe Burns • Nov. 7, 2024 -
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Colliers reports strong office leasing gains in Q3
The firm’s real estate services third-quarter revenue grew 9% year over year, with a 22% rise in office leasing, driven by several large transactions in the third quarter of 2024.
By Joe Burns • Nov. 7, 2024 -
"Jones Lang LaSalle (JLL) in Pittsburgh, Pennsylvania" by Tony Webster is licensed under CC BY-SA 2.0
JLL workplace management and leasing revenue drive Q3 growth
The company is working to consolidate its building operations groups, effective Jan. 1, 2025, amid growth in office leasing activity and new workplace management client wins.
By Nish Amarnath • Nov. 6, 2024 -
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Schneider Electric replaces CEO Peter Herweck amid strategic ‘execution’ issues
The board’s decision to tap company veteran Olivier Blum as Herweck’s successor follows “divergences” in executing Schneider’s roadmap at a time of significant opportunity, the company said.
By Nish Amarnath • Nov. 6, 2024 -
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Schneider Electric investigating cyber intrusion after threat actor gains access to platform
Threat actors claim to have 75,000 unique name and email addresses from the incident, which marks Schneider Electric’s third cyber breach in less than two years.
By David Jones • Nov. 6, 2024 -
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Cushman & Wakefield’s leasing fee revenue surged 16% YoY across the Americas
Fee revenue for its Americas services segment — formerly property, facilities and project management — remained flat year over year in the third quarter. Reaccelerating revenue and profitability for this segment will be a key priority, CEO Michelle MacKay said.
By Nish Amarnath • Nov. 5, 2024 -
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Modine’s data center sales soared 102% year over year in fiscal 2025 Q2
The company is focused on meeting demand for high-performance chillers from colocation and hyperscale customers, CEO Neil Brinker said.
By Nish Amarnath • Nov. 4, 2024 -
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Schneider Electric’s North America growth drives Q3 revenue, led by energy management
The company’s North America revenue organically grew 15.1% year over year, to about $3.8 billion, on the back of organic 18.3% year-over-year growth in energy management, it says.
By Nish Amarnath • Oct. 31, 2024 -
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Trane’s backlog up 2.5x from historical levels in Q3, with 90% from commercial HVAC
The company’s commercial HVAC revenue grew nearly 20% year over year in the third quarter, led by strength in applied solutions and services.
By Joe Burns • Oct. 31, 2024 -
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Honeywell building automation offsets industrial automation decline in Q3
Honeywell’s backlog jumped 10% year over year, to $34 billion in the third quarter, led by its building automation segment and energy and sustainability solutions business, CFO Greg Lewis said.
By Joe Burns • Oct. 25, 2024 -
CBRE facilities management, leasing revenue surge in Q3
Despite organizations’ increasing focus on prime space, subprime office leasing activity also grew with return-to-office efforts, CEO Bob Sulentic said.
By Joe Burns • Oct. 24, 2024 -
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Schneider Electric to buy 75% stake in data center cooling firm Motivair
The investment in the maker of direct-to-chip cooling and high-capacity thermal solutions is part of an effort to strengthen its position in data centers, Schneider Electric says.
By Nish Amarnath • Oct. 21, 2024 -
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IBM acquires Prescinto to bolster renewable energy asset management capabilities
The deal will enhance the functionality of its asset lifecycle management platform, helping operators monitor and optimize renewable energy assets in near real-time, IBM says.
By Lamar Johnson • Oct. 18, 2024 -
ISS North America appoints former CBRE exec as COO
Tim Dismond will help lead the company’s attempts to capitalize on the transformation occurring in the current workplace and facilities market, ISS North America CEO Steve Quick said.
By Joe Burns • Oct. 18, 2024 -
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WeWork adds locations via workspace affiliate program launch
A new partnership with Vast Coworking Group supports the new network, which comes as many organizations look to increase flexible and coworking space.
By Joe Burns • Oct. 16, 2024 -
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CBRE acquires NRG Energy’s renewable advisory group
The deal will bolster its ability to help clients integrate renewable energy across their real estate portfolios and facilitate clean power deals, CBRE says.
By Joe Burns • Oct. 14, 2024 -
Retrieved from Carrier on October 08, 2024
Carrier rebrands EcoEnergy Insights, Cortix building management system as Abound
The move brings the company’s artificial intelligence and IoT-powered technologies together as a comprehensive suite of climate and energy management products, it said.
By Joe Burns • Oct. 8, 2024 -
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JLL to acquire lease management, data analytics tech brokerage Raise
The acquisition will help JLL build out its digital leasing platform to provide data-driven decision-making to clients, the real estate services firm says.
By Joe Burns • Oct. 2, 2024 -
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Commercial real estate recovery expected in 2025, prompting tech, sustainability investments
A majority of major real estate owner and investor organizations are more likely to channel their spending toward data and technology in 2025, but they must be deliberate about deployment, per a Deloitte report.
By Joe Burns • Sept. 30, 2024 -
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Sodexo mulls acquisition of food service competitor Aramark
The potential deal, which has reportedly been brewing for months, could provide Sodexo with a strong growth engine but would require significant funding and could face antitrust scrutiny, Bloomberg reported.
By Joe Burns • Sept. 27, 2024 -
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Fed rate cut will trigger slow rise in real estate investment ‘tide,’ CBRE chief economist says
Looking ahead, CBRE expects the economy will avert a recession and that its “soft landing” will boost tenants’ confidence and support demand for space across property types.
By Maura Webber Sadovi • Sept. 27, 2024 -
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BlackRock, Microsoft, partners aim to mobilize $100B for AI data centers, energy infrastructure
The funding necessary to build out the data centers, AI factories and energy needed to power them “goes beyond what any single company or government can finance,” Microsoft President Brad Smith said.
By Lamar Johnson • Sept. 20, 2024 -
"Jones Lang LaSalle (JLL) in Pittsburgh, Pennsylvania" by Tony Webster is licensed under CC BY-SA 2.0
JLL’s Scope 1, 2 emissions jump 16% across the Americas in 2023
The company has reduced these emissions by over 20% since its 2018 baseline and is still on track to meet its net-zero targets by 2030, according to its 2023 ESG performance report.
By Nish Amarnath • Sept. 19, 2024
