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  • PRICE$35.10
  • PRICE CHANGE$0.46
  • % CHANGE1.3%
  • TWEETS1
  • CONSENSUSHOLD

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HOLD

Sentiment (10 days)

  •  Strong Buy
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  •  Hold
  •  Sell
  •  Strong Sell

DAILY PRICE CHANGE VS SENTIMENT

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JOHNSON CONTROLS INTERNATIONAL PLC (JCI) News

Johnson Controls to transform McDougal Capital’s Court Place Office Tower and generate $1.6M in energy and operational savings

Johnson Controls will help to improve tenant comfort levels in the Court Place Office Tower (also known as the Lubbock National Bank Building), a multitenant office building located in downtown Lubbock, Texas, through improvements to lighting, HVAC and electrical controls. Total improvements will produce savings of more than $1.6M over 20 years. The project will receive funds from a grant bestowed by Market Lubbock, which will assist with the cost of the updates as a part of the city’s ongoing downtown revitalization efforts.

“We are part of a growing business community in the downtown area,” said the building’s owner Mike McDougal, founder and principal of McDougal Capital. “Our goal is to create an environment conducive to the types of businesses we’d like to attract and retain. Johnson Controls is bringing that vision to life, while also helping us save money in the long-term.”

This six-month project will address Court Place’s high energy usage and operational costs and help prevent inevitable equipment failure. Upgrades include more than 3,000 lighting fixtures, which will help improve lighting conditions and consistency throughout the building’s nine floors, and the replacement of the chilled and hot water distribution piping and pumps. The existing HVAC controls system will also be updated to help building management better control the temperature on each side of the building to account for changes in temperature during sunrise and sunset.

“Court Place was facing high energy and operational costs as well as outdated equipment and controls systems,” said Jennifer Edwards, account executive, Johnson Controls. “This is a common problem in older buildings, but upgrades to main systems, such as lighting and HVAC, can reinvigorate a building and provide that added level of comfort to its tenants. We are happy to help McDougal Capital create a more welcoming environment for current and future occupants.”

McDougal Capital is making additional improvements to modernize the look of the building and improve safety through replacement of its main passenger elevators.

“The updates to Court Place are essential for the future of vitality of the space and the function it serves local businesses,” said John Osborne, CEO and president of Market Lubbock. “We are pleased to assist with this project through funds allocated by a grant for downtown redevelopment. Market Lubbock promotes economic development for the city and encourages private investment in downtown.”

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