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Industrial Construction Cost Guide

Brian Ungles • 1/18/2023

An essential tool to guide capital expense decisions for industrial real estate 

Cushman & Wakefield’s Industrial Construction Cost Guide provides an indication of the construction costs in the industrial sector for 43 key cities in the United States, Canada and Mexico. The Guide, compiled by our Project & Development Services team, gives insight into the factors driving the industrial real estate market, and gives insight for capital planning. 

While the North American industrial sector faces the challenges of rising costs, material shortages and labor shortages, demand for industrial space remains strong. The sector may face a potential cooling down in the long term, but the construction pipeline is expected to remain robust, with a focus on modern, efficient facilities that can meet the needs of a changing market. 

Highlights of the report: 

Economic Overview 

  • Strong demand for industrial properties driven by e-commerce
  • Competition for materials and inflationary pressures driving construction costs higher

Construction Cost Comparisons
North American fit-out costs for industrial properties averaged $84 psf for medium projects and $78 psf for large projects. Download the Guide for detailed costs for 43 North American markets.
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Most Expensive

  • Portland
  • Calgary
  • San Diego
  • Seattle
  • Oakland
  • Montreal

Most Cost-Effective

  • Houston
  • Memphis
  • Mexico City
  • Guadalajara
  • Nashville
  • Louisville



Brian Ungles St. Louis Project & Development Services
Brian Ungles

President, Project & Development Services
St. Louis, United States

+1 (314) 392-2625

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Sandy Romero New York Research
Sandy Romero

Research Manager, Global Research
New York, United States

+1 (212) 713-6970

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David C Smith (image)
David Smith

Head of Americas Insights, Global Research
Atlanta, United States

+1 (404) 853-5310

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Richard Jantz New York
Richard Jantz

Executive Managing Director
New York, United States

+1 (917) 7473754

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Adrian Conforti Washington DC
Adrian Conforti

Sr. Managing Director, Project & Development Services
Tysons Corner, United States

+1 (703) 770-3447

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Brian Jaffe Executive Managing Director Seattle
Brian Jaffe

Executive Managing Director
Seattle, United States

+1 (206) 310-5073

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