Americas Fit-Out Cost Guide 2022

TENANT IMPROVEMENTCOSTS BYMARKET 1st Generation (USD)

Eastern US Midwest US Southeast US Southwest US Western US Canada Mexico LATAM

$225

$200

$175

$150

$125

$100

$75

$50

$25

$0

Peru

Cinncinatti St. Louis Chile

Phoenix Miami

San Diego Dallas

Salt Lake City Costa Rica Argentina Austin

Tampa

Seattle

Detroit

Boston

Minneapolis Nashville Denver

Kansas City Atlanta

Charlotte Raleigh

Calgary

Panama

Los Angeles Toronto

Orlando

Upstate NY Chicago

Houston

Portland

Montreal

San Jose

Colombia

Lower CT

Baltimore

Guadalaja

Columbus

Monterrey

Vancouver

Mexico City

Sacramento

Indianapolis

Philadelphia

San Francisco

New York City

Orange County

Washington DC

East Rutherford

Source: Cushman & Wakefield Project & Development Services

ENDNOTES 1 U.S. Bureau of Economic Analysis; Moody’s Analytics 2 Institute for Supply Management (ISM) 3 U.S. Bureau of Labor Statistics (BLS); Moody’s Analytics Forecasted

4 The current forecast calls for prices to begin to stabilize in late 2022, however, this forecast does not include the potential disruptions to supply chains from the ongoing war in Ukraine. The conflict has injected more uncertainty around supply chain operations and pricing. A resolution to the conflict would alleviate this uncertainty, but a protracted war will continue to increase uncertainty. 5 Dodge Data & Analytics, New Construction Starts Report 6 https://www.construction.com/news/DMI-Recovers-In-February-2022. Accessed March 22, 2022. 7 Central Bank of Costa Rica; Instituto Nacional de Estadística Geografia e Informática; Ministry of Labour, Argentina; Moody’s Analytics Estimated; National Administrative Department of Statistic; National Institute of Statistics and

Informatics; Statistics Canada; U.S. Bureau of Labor Statistics 8 U.S. Bureau of Labor Statistics (Employment Cost Index) 9 Engineering News Record (ENR) (McGraw-Hill); Moody’s Analytics Forecasted

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