Johnson Controls posts backlog growth amid commercial HVAC boom, announces retirement of CEO

The company’s building solutions backlog in North America grew 14% year over year to $9 billion as it offloaded two non-core businesses, pivoting away from manufacturing. 

By Joe Burns • Aug. 1, 2024

Cushman & Wakefield’s services revenue declines in Q2, offsetting leasing growth

The company has agreed to divest a non-core business and expects about $130 million in gross cash proceeds that will be used for strategic growth opportunities, CFO Neil Johnston said.

By Nish Amarnath • July 30, 2024

Honeywell’s building solutions business swells, offsetting drop in products

The building solutions business grew sales 14% in the quarter, including a 20% jump in project sales as a result of strength in the data center, healthcare and energy sectors, CFO Greg Lewis said on an earnings call. 

By Joe Burns • July 29, 2024

CBRE continues facilities management growth in Q2’ 2024

While the office leasing market stabilizes, the company plans to continue expanding its facilities management business through mergers and acquisitions, CEO Bob Sulentic said on an earnings call.

By Joe Burns • July 25, 2024

Johnson Controls, Bosch reach agreement for light commercial, residential HVAC assets

The proposed sale is part of Johnson Controls’ ongoing restructuring intended to simplify its portfolio to focus on providing solutions for commercial buildings and data centers.

By Joe Burns • July 24, 2024

Johnson Controls agrees to sell commercial, multifamily business amid residential HVAC downturn

Products that are part of the deal include terminal units, dampers, filters, fans and other equipment offered under the Koch Filter, Titus, Ruskin, Krueger, PennBarry and Tuttle & Bailey brands.

By Brian Martucci • July 17, 2024

Google cuts on-site carbon emissions but struggles to contain data center electricity use

Despite implementing demand response programs, electrification efforts and power purchase agreements, AI’s computational requirements have led to increases in the company’s emissions.

By Joe Burns • July 11, 2024

Orion’s Leo FM expands reach through partnership with RSM Facility Solutions

The partnership will help property managers and facility operators optimize work order management and integrate predictive maintenance tools, Orion’s co-CEO says.

By Nish Amarnath • July 11, 2024

Mainspring Energy announces first reseller partners, channel partnership executive

Its newly formed reseller sales channel will help it to continue expanding its fuel-flexible power generator solution across the U.S., the company says. 

By Joe Burns • July 10, 2024

US office vacancy rates break 20% for first time ever

Preliminary second quarter data from Moody’s shows the third straight record-breaking quarter beyond previous historic peaks seen between 1986 and 1991.

By Joe Burns • July 9, 2024

Canada Infrastructure Bank invests $100M in deep energy retrofits across aging buildings

GDI Integrated Facility Services will channel the loan toward implementing measures that are expected to cut greenhouse gas emissions in each building by at least 30% annually.

By Joe Burns • July 8, 2024

ASHRAE establishes Center of Excellence for Building Decarbonization

The center will track emerging issues and trends, provide reliable technical information and coordinate joint initiatives, ASHRAE says. 

By Joe Burns • July 2, 2024

CBRE acquires Direct Line Global, bolstering data center technical services

Direct Line Global, which provides design, installation, maintenance and management solutions and server support infrastructure, will operate as part of CBRE’s data centers solutions business. 

By Joe Burns • June 21, 2024

Constellation, Vistra and PSEG could be next to ink nuclear-data center supply deals: S&P

Higher power prices are creating opportunities for nuclear operators to serve data centers that co-locate nearby, S&P Global Ratings said.

By Robert Walton • June 18, 2024

WeWork taps new CEO from Cushman & Wakefield as it exits bankruptcy

John Santora, a more than 40-year Cushman & Wakefield veteran, was appointed as CEO and director, WeWork said.

By Nish Amarnath • June 13, 2024

Johnson Controls launches global data center business

The new entity will focus on leveraging Johnson Controls’ scale to provide integrated solutions to data center customers as the company sees surging revenue from this market.

By Joe Burns • June 11, 2024

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

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

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

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

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

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

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

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