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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

A suit filed 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