North America Industrial Construction Cost Guide 2023

PDS AMERICAS COST GUIDE – PRICING CRITERIA METHODOLOGY • The industrial build-to-suit project data is based on modern-day distribution centers for two different sizes (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 is either precast insulated panels or tilt-up concrete panels with steel frame. The roof is a Thermoplastic Polyolefin (TPO) roof pitched to overflow scuppers for drainage. Floors are 8” thick slab with reinforced 4,000 psi concrete. Each building size has appropriate quantities of dock doors, levelers and drive-in ramps and overhead door. The office area is constructed with basic finishes excluding Furniture, Fixtures or Equipment (FF&E) and low voltage cabling, security or audio/visual equipment and systems. The office area is fully conditioned space with the warehouse unconditioned. Warehouse includes LED high-bay lighting.

• Allowances for site concrete, paving, landscaping, storm retention and site utilities are included. The pricing does not include soft costs or purchase of land. • Given the fluidity of the construction market, a ten percent (10%) contingency allowance has been included in the cost. • Costs in this guide were compiled from responses to a survey of general contractors (GCs) focused on industrial properties. 50 GCs representing 43 North American markets responded to the survey.

DISTRIBUTION CENTER COSTS Mediumand Large Projects byMarket

Medium (476,400 RSF)

Large (901,000 RSF)

$20 $30 $40 $50 $60 $70 $80 $90 $100 $110

$- $10

Houston Miami

Dallas

San Diego Seattle

Cincinnati Detroit

Vancouver Denver

Minneapolis Atlanta

Calgary

Phoenix

Toronto

Chicago

Oakland

Penn Corridor Monterrey St. Louis

Portland

Montreal

Mexico City Memphis

Nashville

Salt Lake

Charlotte

Louisville

Baltimore

Cleveland

Indianapolis Columbus

Greenville

Pittsburgh

Milwaukee

Orange Co.

New Jersey

Kansas City

Greensboro

Guadalajara

Los Angeles

Philadelphia

Inland Empire

Central Valley, CA

Source: Cushman & Wakefield Project & Development Services

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