Your source for construction industry news in the Carolinas
Gordian announces the outcome of a partnership with APPA to provide a modeled calculation of the total infrastructure backlog need across the higher education industry. The modeled and validated calculation estimates the higher education industry is facing an infrastructure backlog of $112.3B, with public and private institutions registering notably contrasting backlog demands at $76.1B and…
Leading site selection firm Global Location Strategies (GLS) has developed a cloud-based analytic platform for location benchmarking. Called Site Shepherd™, the digital app allows users to screen, score, and financially assess location data in an effort to deliver optimal location recommendations from anywhere in the world. Location benchmarking is the process of comparing location advantages and disadvantages to…
The Manitowoc Company, Inc. (NYSE: MTW) (the “Company” or “Manitowoc”), a leading global manufacturer of cranes and lifting solutions, announced today that it has entered into a definitive agreement to acquire the crane business of H&E Equipment Services, Inc. (“H&E”) (NASDAQ: HEES), one of the largest rental equipment companies in the U.S. Under the terms…
McShane Construction Company is underway with IBM Drive Apartments in Charlotte, North Carolina. The new 300-unit development is under construction on behalf of repeat client RangeWater Real Estate. In April, McShane completed construction of The Archer in Acworth, Georgia, for RangeWater. “We are excited to work on another project for our highly valued partners at…
Architecture firms reported increasing demand for design services in June according to a new report today from The American Institute of Architects (AIA). AIA’s Architecture Billings Index (ABI) score for June remained at an elevated level of 57.1 in June (any score above 50 indicates an increase in billings). During June, the new design contracts…
As the country begins its economic recovery efforts in all industries, it remains clear that last-mile logistics and solid infrastructure are key to seamlessly fueling growth throughout commercial real estate and beyond. Historically, the health of the commercial real estate segment has been a trustworthy indicator of the elasticity of the U.S. economy. CCIM Institute…
Total construction starts lost 7% in June, slipping to a seasonally adjusted annual rate of $863.6 billion, according to Dodge Data & Analytics. All three major sectors (residential, nonresidential building, and nonbuilding) pulled back during the month. Single family housing starts are feeling the detrimental effects of rising materials prices. Large projects that broke ground in…
Although business conditions have improved for commercial real estate, according to the most recent COVID-19 impact survey conducted by NAIOP, 86.6% of developers now report delays or shortages in construction supplies — an all-time high since the survey began in April 2020. This suggests that supply chain disruptions may outlast other effects of the pandemic,…
Fluor Corporation (NYSE: FLR) and the Fluor Foundation announced today their commitment to a $1 million funding program in partnership with North Carolina Agricultural & Technical State University, Texas’ Prairie View A&M University and Alabama’s Tuskegee University. “Fluor and the Fluor Foundation’s three-year, $1 million program will assist the universities’ science, technology, engineering and math (STEM) programs and students in…
FMI Corporation, a leading consulting and investment banking firm serving the built environment, announces a strategic partnership with the U.S. Minority Contractors Association (USMCA), a nonprofit that helps and advocates for minority business owners, contractors and subcontractors. FMI will serve as a strategic partner and consultant to USMCA, helping the association expand member services and…
