North America Industrial Construction Cost Guide 2023

MOSTEXPENSIVE AND COST-EFFECTIVE MARKETS

North American costs for industrial properties averaged $84 psf for medium size projects (476,400 sf) and $79 psf for large size projects (901,000 sf).

> The priciest markets are located in Western U.S. and Canada. Of the top six most expensive markets, four are located on the West Coast and two are located in Canada. The most expensive market is Portland, where costs for medium size projects average $105 psf and large size projects average $98 psf. Portland Medium - $105 psf Large - $98 psf Calgary Medium - $101 psf Large - $98 psf San Diego Medium - $101 psf Large - $92 psf Seattle Medium - $100 psf Large - $92 psf Oakland Medium - $100 psf Large - $93 psf M ontreal Medium - $97 psf Large - $93 psf

• Memphis • Mexico City • Guadalajara • Nashville • Louisville

> The most cost-effective markets include a mix of markets in Mexico and the

midwestern and southern U.S.

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CUSHMAN & WAKEFIELD