Supply chain challenges might be easing, but they are still among expense nuisances when it comes to office fit-out budgets, according to a report this week from Cushman & Wakefield.
Average fit-out costs in the Americas now total $136 per square foot, up 11% from 2022. Adaptive reuse of existing space costs is typically priced at a 10-15% discount.
It found that supply chain constraints, inflationary pressures, and increased labor costs are continuing to apply upward pressure.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
