2025 Industrial Construction Cost Guide

New Warehouse Construction Costs Leveling Out

260 240 220 200 180 160 140 120

+0.2%MOM +0.4%YOY

(Dec2004=100)

Producer Price Index (PPI) - NewWarehouse Construction

Jul-17

Jul-21

Jul-15

Jul-18

Jul-19

Jul-16

Jul-22

Jul-23

Jul-24

Source: Moody’s, Bureau of Labor Statistics, Cushman & Wakefield Research Jan-15 Jan-17 Jan-16 Jan-18 Jan-19 Jan-20 Jan-21 Jul-20

Jan-22

Jan-23

Jan-25

Jan-24

Canada Commercial Building Construction Price Index

110

100

+1.2%QOQ +3.9%YOY

90

80

70

60 NewCommercial Buildings (Index 2023=100, SA

Source: Moody’s Analytics, Cushman & Wakefield Research 2015Q1 2017Q1 2016Q1 2018Q1 2019Q1 2020Q1 2021 Q1 2022Q1 2023Q1 2024Q1 2015Q3 2017Q3 2016Q3 2018Q3 2019Q3 2020Q3 2021 Q3 2022Q3 2023Q3 2024Q3

Mexico Building Price Index (Commercial and Residential)

150 140 130 120 110 100

+0.8%MOM +3.2%YOY

90 80 70 60 Producer Price Index-Buildings (Index Jul2019=100, NSA)

Jan-17

Jan-21

Jan-15

Jan-19

Sep-17

Sep-21

Sep-15

Sep-19

Jan-23

Jan-25

May-18

May-16

Sep-23

May-22

May-24

May-20

Source: Moody’s Analytics, Cushman & Wakefield Research

2025 Industrial Construction Cost Guide 11