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Houston Commercial Construction Cost Hold Steady

Houston-area commercial construction costs have held steady over the past year, according to an annual report by the Kirksey architecture firm.

Some materials and transportation costs are starting to rise, but competition for jobs among general contractors and subcontractors has kept prices in check, said Scott Wilkinson, commercial team leader at Houston-based Kirksey.

“We’re still at the bottom of the costs,” he said. “There’s still competition for a lot of the work.”

Construction costs are expected to begin rising later in the year as building projects increase, the report states.

Kirksey surveyed 18 construction companies on core and shell construction costs, not including tenant improvements, and compiled the following statistics:

• One-story flex office buildings range in cost from $58 to $65 per-square-foot, compared to $60 to $65 in 2010.

• Low-rise office buildings cost from $72 to $80 per-square-foot, lower than the $75 to $83 last year.

• Mid-rise office buildings cost from $82 to $90 per-square-foot, lower than the $85 to $95 from a year ago.

• High-rise office buildings range in cost from $90 to $125 per-square-foot, nearly unchanged from a year ago, when the cost was $90 to $122.

• Medical office buildings cost $93 to $120 per-square-foot, versus $95 to $125 last year.

Commercial tenant improvements on a typical 25,000-square-foot floor range from $35 to $43 per-square-foot, relatively unchanged from last year’s range of $35 to $42.

Reprint from Houston Business Journal – by Jennifer Dawson, Reporter

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