Americas Office Fit Out Cost Guide 2023

OFFICE FIT OUT COST GUIDE 2023

PDS AMERICAS FIT OUT GUIDE – PRICING CRITERIA

GENERATION 1 PROJECT DESCRIPTION The Generation 1 tenant improvement project (GEN 1) scope and related construction costs are based on modern-day corporate office space with private offices, office workstations, executive areas, reception, training rooms, conference rooms and all other associated ancillary space customary in a corporate facility. Low Voltage Cabling, Audio Visual Equipment, Security, Furniture and other Furniture, Fixtures & Equipment (FF&E) items are excluded from the pricing. Given the fluidity of the construction market, a ten percent (10%) contingency allowance has been included in the cost. GENERATION 2 PROJECT DESCRIPTION The Generation 2 tenant improvement “adaptive reuse” project (GEN 2) scope and related costs are based on all of the design criteria of the GEN 1 project with the exception of the adaptive reuse scope described as follows:

Selective demolition of the existing tenant improvements including finishes, partitions, ceilings and mechanical/electrical systems

> Reuse 25% of existing partitions and ceiling system > Reuse 25% of existing sprinkler head locations > Reuse 80% of perimeter zone air distribution > Reuse 20% of interior HVAC zone air distribution > Reuse 100% of existing electrical distribution infrastructure > Reuse 25% of existing electrical power & lighting distribution > Reuse 100% of existing fire alarm main loop with 75% new and 25% relocated devices

TENANT IMPROVEMENT COSTS FIRST & SECOND GENERATION BY MARKET

1st Generation 2nd Generation

$250

$200

$150

$100

$50

$-

Peru

Chile

Philly

Salt Lake City Minneapolis Nashville Miami

Dallas

Austin

Tampa

Seattle

Detroit

Boston

Baltimore Denver

Vancouver Atlanta

Charlotte Raleigh

Indianapolis Houston Calgary

Panama

Phoenix

St Louis

Toronto

Orlando

Chicago

Orange Co Portland

Montreal

San Jose

Colombia

Argentina

Cincinnati

Columbus

San Diego

Monterrey

Costa Rica

Upstate NY

Kansas City

Mexico City

Guadalajara

Sacramento

Los Angeles

San Francisco

New York City

Washington DC

East Rutherford

Footnote: The project scope and criteria of this guide has been revised from the previous 2020 version in order to capture the current trend in tenant improvement design considerations. Lower Connecticut

Source: Cushman & Wakefield Project & Development Services

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