2025 Industrial Construction Cost Guide

Breakdownof Expenses byCategory Although category-level costs vary by project scale, structural and enclosure components consistently represent the largest portion of costs, accounting for about 33% in small warehouses and increasing to 37% in large-scale projects. Architectural services represented a higher proportion of costs in smaller projects (21%) than in larger ones (14%). MEP costs remained steady, making up about 8% of total costs across all project sizes. The industrial build-to-suit project data is based on modern distribution centers for three sizes: 109,200 rsf, 476,400 rsf and 901,000 rsf. Office and other ancillary spaces customary in a distribution facility are included. The intended construction of the building features either precast insulated panels or tilt-up concrete panels with steel frame. Roofs are Thermoplastic Polyolefin (TPO) systems pitched to overflow scuppers for drainage, while floors are 8-inch slabs with reinforced 4,000 PSI concrete. Each building size has appropriate quantities of dock doors, levelers, drive-in ramps and overhead doors. The office area is constructed with basic finishes, excluding FF&E, low-voltage cabling, security and audio/ visual equipment and systems. The office area is fully conditioned space, while the warehouse, equipped with LED high-bay lighting, remains unconditioned. Allowances cover site concrete, paving, landscaping, storm retention and site utilities, though soft costs and land purchase are excluded. To account for market variability, an 8% contingency allowance is included in the cost. PRICING CRITERIA

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Cushman & Wakefield