2025 Industrial Construction Cost Guide

Build-To-Suit Construction Cost Comparisons

Industrial construction costs in the Americas remained relatively stable across project sizes. Pricing for small projects (109,200 rsf) averaged $139 psf, a 1.9% YOY decrease due to improved efficiencies and softer pricing for base building architectural costs. Pricing for medium-sized warehouses (476,400 rsf) averaged $85 psf, down 1.0% YOY, driven by a similar reduction in base building architectural costs. Large projects (901,000 rsf) increased slightly, rising 2.0% from 2024 levels to $77 psf. Although base building architectural costs also declined for large projects, the decrease was not enough to offset cost increases in other categories like site work and base building MEP.

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Cushman & Wakefield