Corporate/Finance: Page 5
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Gorodenkoff via Getty Images
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 -
Bilanol via Getty Images
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 -
Jacob Wackerhausen via Getty Images
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 -
Chunyip Wong via Getty Images
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 -
Kevin Dietsch via Getty Images
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 -
Imaginima via Getty Images
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
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