Corporate/Finance: Page 4

IRS and Treasury propose clean energy investment tax credit updates

The proposed regulations would further define what qualifies as an ITC-eligible energy property and address Inflation Reduction Act-related wage and apprenticeship requirements.

By Joe Burns • Nov. 28, 2023

Facilities management, project management revenues buoy service firms

Increased outsourcing offset sharp declines in leasing, while building technology and hardware providers hung their hats on electrification and automation trends.

By Joe Burns • Nov. 13, 2023

GSA places 23 properties on the chopping block to “right-size” federal real estate

The U.S. General Services Administration says it plans to reduce its portfolio by 3.5 million square feet and avoid more than $1 billion in costs over the next decade.

By Nish Amarnath • Updated Nov. 10, 2023

WeWork declares bankruptcy

FM firms expect minimal market impact as the company seeks to “further rationalize its commercial office lease portfolio.”

By Joe Burns • Nov. 7, 2023

Modine’s climate solutions saw strong Q2 growth

Strong demand from hyperscale and colocation customers drove data center sales, while heat pump expectations slumped, the company reported.

By Nish Amarnath • Nov. 6, 2023

JLL Work Dynamics expands margins, offsets leasing declines in Q3

The company said a continued ramp-up of Fortune 100 contracts and the expansion of its Americas property management portfolio softened the impact of dampened leasing volume.

By Joe Burns • Nov. 3, 2023

Cushman & Wakefield’s property, facilities and project management segment remains flat

While services outperformed other business segments in Q3, the company still isn’t “satisfied with the low level of growth,” CEO Michelle MacKay said.

By Joe Burns • Nov. 1, 2023

CBRE sees uptick in property and project management, drop in leasing revenue

One-third of the real estate firm’s Global Workplace Solutions pipeline consists of clients that have not previously outsourced such operations, the company’s CFO said.

By Nish Amarnath • Oct. 30, 2023

Schneider Electric predicts strong Q4 due to robust demand

A continued focus on electrification, digitization and sustainability projects will bolster market demand for data centers and grid infrastructure, the company says.

By Joe Burns • Oct. 30, 2023

Clockworks Analytics acquires digital twin assets from Animated Insights

Animated Insights Chief Technology Officer Howard Davidson will join Clockworks to help integrate the technology into its fault detection and diagnostic platform.

By Joe Burns • Oct. 18, 2023

High office vacancies contrast with data center growth: CBRE market reports

Artificial intelligence has driven strong data center leasing growth in Dallas/Fort Worth, while San Francisco continues to struggle with converting unused office space.

By Joe Burns • Oct. 11, 2023

AirX Climate Solutions to be acquired by PE firm interested in growth

The HVAC specialist expects Gryphon Investors' backing for "strategic acquisitions," geographic expansion and growth in its aftermarket and service offerings.

By Nish Amarnath • Oct. 10, 2023

‘Empty’ federal buildings under scrutiny

Unused office space poses financial and environmental issues federal agencies must address, lawmakers from both parties said at a Senate committee hearing.

By Nish Amarnath • Oct. 9, 2023

Cyberattack against Johnson Controls sparks downstream concerns

Worries mounted quickly after the attack on the building automation and industrial control systems vendor, which works extensively with multiple federal agencies.

By Matt Kapko • Oct. 9, 2023

Metropolis to acquire parking facilities operator SP Plus for $1.5B

The purchase will expand Metropolis' services, which facilitate parking payments without on-site cash or credit cards, to over 3,300 locations across North America.

By Joe Burns • Oct. 6, 2023

Curbside EV charging benefits for buildings are the aim of itselectric, Swtch Energy partnership

Passive fee revenue and energy insights are potential benefits for building owners and operators that can supply electricity to curbside electric vehicle chargers, the companies say.

By Joe Burns • Oct. 2, 2023

Johnson Controls hit by ‘severe’ cyberattack

The manufacturer of industrial control systems, security systems and HVAC equipment said it is still assessing what information was impacted.

By Matt Kapko • Sept. 29, 2023

NREL adds geothermal hybrid system to energy project cost analysis tool

The tool can help facilities owners and operators identify the optimal mix of geothermal heat pump technologies, renewable energy, conventional generation and energy storage, the lab says.

By Joe Burns • Sept. 28, 2023

MapsPeople’s CEO talks about mapping the future of indoor spaces

Morten Brøgger shares his vision for indoor mapping, the Point Inside acquisition and the elevation of user experience through smart building management.

By Joe Burns • Sept. 26, 2023

Jacobs scores $25M Connecticut water project

The work includes engineering services and support for improvements to the overall facility, sludge system, water quality lab and treatment process.

By Sebastian Obando • Sept. 20, 2023

Google highlights emerging firm and peaking energy technologies’ role in driving carbon-free electricity

Corporate clean-energy buyers can help commercialize these emerging technologies to reduce costs through repeated deployment, Google says.

By Ethan Howland • Sept. 19, 2023

EllisDon will incorporate Clockworks Analytics’ diagnostic platform into its operations

The software will help building staff monitor and identify potential equipment failures and high-impact maintenance needs, the companies say.

By Nish Amarnath • Sept. 18, 2023

CBRE’s Smart FM Solutions implemented across more than 20K client sites

The AI-powered software can reduce client maintenance costs and energy consumption by as much as 20%, the company says.

By Joe Burns • Updated Sept. 11, 2023

Modine sells coatings facilities to Protecall amid push for growth

The HVAC manufacturer said the sale aligns with its pursuit of strategic licensing agreements.

By Nish Amarnath • Sept. 6, 2023

Rolls-Royce Holdings names JLL as global facilities manager

As part of a contract slated to begin in February, JLL will oversee operations across 44 sites in six countries.

By Nish Amarnath • Sept. 5, 2023