The Cost of a New Office Building

by CoyDavidson on February 6, 2013

3009 Post Oak Skanska

Kirksey Construction Cost Update-2013

Kirksey Architects released its 2013 annual construction cost update on office buildings and parking structures which is an annual poll of leading contractors to update current market conditions. This year the report has been expanded to include corporate interior construction costs.

Construction costs began to climb in 2012 and costs are expected to continue rising at a steady pace through 2013. A combination of a higher volume of projects in a number of sectors combined with labor and material cost increases will continue to drive up construction costs

Twenty one office projects, totaling 4.5 million square feet, are under construction in Houston as the city’s robust economy continues to propel the Houston office space market and this doesn’t include ExxonMobil’s massive new campus just south of the Woodlands.

Energy related companies are driving the uptick in major office projects and major interior lease deals in the Houston region. Many speculative office projects are in the wings awaiting a tenant and financing while new projects are being announced on a regular basis. LEED certification continues to be a standard for most office buildings. However, the current LEED standards favor dense urban locations, resulting in many suburban buildings settling for a level lower than similar projects built in 2007-2008.

2013 Office Construction Cost Update by Coy Davidson

  • that post is very informative about the commercial construction cost and having some interesting stuff

  • Glad you like it

Previous post:

Next post:

Disclaimer: All blog entries on this site are the opinion of the author and not those of either Colliers International - Houston or Colliers International (collectively, "Colliers"). Colliers neither endorses, sponsors nor necessary shares the opinions of the author, regardless of whether any blog is posted by any employee, officer, agent, or representative of Colliers. Colliers has not authorized or verified any statement of fact made in a blog, and any such statement does not constitute a statement of fact by Colliers. Colliers is not responsible for the monitoring or filtering of any blog, nor does Colliers claim ownership or control over any blog content.