Life Sciences U.S. Fit-Out Cost Guide 2025

LIFE SCIENCES FIT OUT COST GUIDE 2025

Comparing costs across markets and subtypes, at the high end of pricing the three priciest markets were all BLS3 property subtypes: San Francisco—$2,283 psf; Philadelphia —$2,037 psf; and Boston —$2,023 psf. On the low end, the three most cost-effective markets consisted of

two warehouse subtypes and one office fit out: Raleigh-Durham (Warehouse)—$160 psf; Seattle (Warehouse)—$196 psf; and Raleigh-Durham (Office)—$204 psf.

FIT-OUT COSTS BY MARKET

High Average Low

$1,400

$1,200

$1,000

$800

$600

$400

$200

Cost per Square Foot

$0

FIT-OUT COSTS BY MARKET, CHANGE FROM PRIOR YEAR

Low Avg High

+13% $20 $30 $40 $50 $60 $70 $80 $90 $100 Cost per Square Foot

+13%

+12%

+12%

+9%

+11%

+5%

+5%

+5%

+4%

+4%

+3%

+1.5%

+0.4%

+0%

+0.4%

$0 $10

+0%

+0.4%

Source: Cushman & Wakefield Project & Development Services

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