|
Hampton Roads, VA |
Raleigh-Durham, NC |
New York, NY |
DC/Northern VA |
Charleston, SC |
San Diego, CA |
Jacksonville, FL |
| Downtown Office |
Average Rental Rate per Square Foot |
| Class A |
$22.31 |
$22.38 |
$54.78 |
$54.75 |
$28.67 |
$28.26 |
$18.70 |
| Class B |
$16.46 |
$17.95 |
$41.44 |
$44.35 |
$21.62 |
$24.05 |
$16.75 |
| Suburban Office |
*None since 2010 to current |
| New Construction |
$19.00* |
$26.49 |
$33.91 |
$45.05 |
$20.43 |
$36.23 |
$16.22 |
| Class A |
$21.08 |
$21.75 |
$27.18 |
$37.13 |
$19.14 |
$31.03 |
$20.61 |
| Class B |
$15.13 |
$17.07 |
$21.31 |
$26.93 |
$16.13 |
$24.44 |
$16.86 |
| Industrial |
|
| Bulk Warehouse |
$4.94 |
$4.33 |
$24.00 |
$ 6.62 |
$ 4.07 |
$ 8.08 |
$ 3.69 |
| Manufacturing |
$4.96 |
$2.83 |
NA |
$ 5.29 |
$ 3.82 |
$ 8.21 |
$ 3.49 |
| High Tech/R&D |
$4.99 |
$3.76 |
$24.66 |
$ 6.48 |
$ 4.12 |
$ 8.18 |
$ 3.71 |
| Construction |
Median Cost (40,000 sq. ft. warehouse) |
| Construction Costs |
$2,172,500 |
$1,890,000 |
$3,555,500 |
$2,339,500 |
$1,970,500 |
$2,670,500 |
$2,217,000 |
| Contractor's Overhead & Profit |
$ 543,000 |
$ 472,500 |
$ 889,000 |
$ 585,000 |
$ 492,500 |
$ 667,500 |
$ 532,000 |
| Architectural Fees |
$ 190,000 |
$ 165,500 |
$ 311,000 |
$ 204,500 |
$ 172,500 |
$ 233,500 |
$ 186,000 |
| Total Building Cost |
$2,905,500 |
$2,528,000 |
$4,755,500 |
$3,129,000 |
$2,635,500 |
$3,571,500 |
$2,845,000 |
Sources: CoStar Group, Inc. and RSMeans
Last updated: Oct 2011