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AVERAGE FACILITY COSTS

(Estimated prices listed in average dollars per square foot)

Building Size / Sq. Ft. Gross Lease Price / Sq. Ft. Sales Price / Sq. Ft.
5,000 – 19,999 $2.28 – $8.50 $12.77 – $90.00
20,000 – 39,999 $2.32 – $4.76 $16.30 – $42.89
40,000 – 59,999 $1.25 – $4.75 $15.00 – $75.00
60,000 – 99,999 $1.75 – $3.65 $14.57 – $29.20
100,000 and over $1.10 – $3.75 $8.49 – $25.16

Source: CoStar Realty Information, Inc.

Industrial Market Lease / Rental

Office / Service Center 2009 2010 2011 2012 2013 2014 2015
Occupancy 90% 95% 96% 88% 86% 85% 84%
Upper Rent, Avg. $4.93 $6.25 $7.22 $6.33 $6.41 $6.32 $6.32
Lower Rent, Avg. $4.00 $5.55 $7.14 $5.54 $5.89 $5.73 $5.73
Multi-Tenant Bulk Warehouse
Occupancy 62% 59% 51% 52% 55% 60% 73%
Upper Rent, Avg. $2.78 $2.76 $2.95 $2.94 $2.81 $2.73 $3.01
Lower Rent, Avg. $2.64 $2.72 $2.77 $2.75 $2.77 $2.73 $2.58

Source: UL Coleman, Ltd. Fall 2015 Quarterly Market Report

Office Market Lease / Rental

Downtown Office Market 2009 2010 2011 2012 2013 2014 2015
Occupancy 92% 91% 88% 86% 83% 80% 79%
Upper Rent, Avg. $13.16 $14.55 $14.65 $13.85 $13.53 $13.26 $13.28
Lower Rent, Avg. $10.81 $12.72 $12.45 $12.24 $12.72 $12.32 $12.59
Suburban Office Market
Occupancy 86% 86% 87% 85% 85% 84% 85%
Upper Rent, Avg. $14.37 $14.60 $15.18 $15.34 $14.70 $15.25 $15.36
Lower Rent, Avg. $13.16 $13.78 $13.40 $13.81 $14.02 $13.88 $13.73

Source: UL Coleman, Ltd. Fall 2015 Quarterly Market Report

 

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