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Industrial Warehouse Industrial

Industrial construction guide

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

Despite recent macroeconomic volatility, construction costs for new warehouses remained stable year-over-year (YOY) as of March 2025. A slower global construction pipeline has softened competition for materials and services, keeping price increases subdued. However, global trade uncertainty has begun to affect pricing as suppliers prepare to operate in a higher-cost environment.

Cushman & Wakefield’s Industrial Construction Cost Guide offers insights into construction costs across 46 markets in the Americas.


Most Expensive Industrial Construction Cost Markets in the Americas:

Small Projects  Medium Projects Large Projects
/Calgary 
/Vancouver 
/Las Vegas
/Reno 
/Oakland 
/Denver 
/Seattle 
/Portland 
/Calgary  
/Las Vegas 
/Seattle 
/Denver 
/Portland 
/Las Vegas 
/Reno

 

Most Affordable Industrial Construction Cost Markets in the Americas:  

Small Projects  Medium Projects Large Projects
/Mexico City 
/Dallas 
/Guadalajara 
/Costa Rica 
/Monterrey
/Atlanta 
/Philadelphia 
/Memphis 
/Costa Rica 
/Greenville 
/Philadelphia 
/Cleveland 
/Memphis 
/Chicago 
/Greenville    
CONSTRUCTION COST COMPARISONS
  • Small ground-up construction projects averaged $139 per square foot (psf), a 1.9% YOY decrease. 
  • Medium-sized warehouses averaged $85 psf, down 1.0% YOY.  
  • Large project costs increased slightly, ticking up 2.0% from 2024 levels to $77 psf.
  • Download Cost Guide

    Connect with the Authors

    Brian Ungles St. Louis Project & Development Services
    Brian Ungles

    President, Project & Development Services


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    Richard Jantz New York
    Richard Jantz

    Executive Managing Director
    New York, United States


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    Jason D'Orlando (image)
    Jason D'Orlando

    Executive Managing Director, Project & Development Services
    Raleigh, United States


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    Sandy Romero New York Research
    Sandy Romero

    Head of Life Sciences & Healthcare Insights, Research Manager
    New York, United States


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    David C Smith (image)
    David Smith

    Head of Americas Insights, Global Research
    Atlanta, United States


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    Ethan Tribble
    Ethan Tribble

    Research Analyst, Global Research
    Houston, United States


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