Menu

Home › Forums › Closed Forums › Buying and Selling RE › Commercial Real Estate Construction Cost

Viewing 11 posts - 1 through 11 (of 11 total)
  • Author
    Posts
  • July 20, 2010 at 7:07 AM #17726
    XBoxBoy
    Participant

    With all the knowledge of people on Piggington, I’m hoping someone has an answer to this question.

    What is typically the cost of commercial office construction? If tract homes can be built for $200 a sq ft, what about a large or small office buildings?

    I ask because the city of San Diego wants to build a new City Hall, and they are going to ask voters to vote on the proposal. It’s a 576,000 sq ft building with a price tag of 293 million dollars. By my calculation that’s $508 per sq ft. So, is there anyone out there with experience pricing office space?

    Is the building more expensive than if they built or bought low rise buildings in say mission valley or somewhere else?

    Here’s the article about the new city hall:
    http://www.signonsandiego.com/news/2010/jul/19/voters-will-get-say-new-city-hall/

    July 20, 2010 at 7:30 AM #580275
    DataAgent
    Participant

    Does the $293M include land acquisition costs? Or does the city already own the land?

    July 20, 2010 at 7:30 AM #580369
    DataAgent
    Participant

    Does the $293M include land acquisition costs? Or does the city already own the land?

    July 20, 2010 at 7:30 AM #580899
    DataAgent
    Participant

    Does the $293M include land acquisition costs? Or does the city already own the land?

    July 20, 2010 at 7:30 AM #581003
    DataAgent
    Participant

    Does the $293M include land acquisition costs? Or does the city already own the land?

    July 20, 2010 at 7:30 AM #581306
    DataAgent
    Participant

    Does the $293M include land acquisition costs? Or does the city already own the land?

    July 20, 2010 at 4:21 PM #580485
    UCGal
    Participant

    [quote=DataAgent]Does the $293M include land acquisition costs? Or does the city already own the land?[/quote]
    The article says it would be built where Golden Hall is – adjacent to the current city building. In other words – the city already owns the land.

    I think it would be cheaper to buy some existing office buildings and retrofit. I’ve seen some “see-through” Class A buildings that would be prime candidates for satellite offices. The county does well with their main facility, then various regional facilities. The city should emulate that model.

    July 20, 2010 at 4:21 PM #580579
    UCGal
    Participant

    [quote=DataAgent]Does the $293M include land acquisition costs? Or does the city already own the land?[/quote]
    The article says it would be built where Golden Hall is – adjacent to the current city building. In other words – the city already owns the land.

    I think it would be cheaper to buy some existing office buildings and retrofit. I’ve seen some “see-through” Class A buildings that would be prime candidates for satellite offices. The county does well with their main facility, then various regional facilities. The city should emulate that model.

    July 20, 2010 at 4:21 PM #581108
    UCGal
    Participant

    [quote=DataAgent]Does the $293M include land acquisition costs? Or does the city already own the land?[/quote]
    The article says it would be built where Golden Hall is – adjacent to the current city building. In other words – the city already owns the land.

    I think it would be cheaper to buy some existing office buildings and retrofit. I’ve seen some “see-through” Class A buildings that would be prime candidates for satellite offices. The county does well with their main facility, then various regional facilities. The city should emulate that model.

    July 20, 2010 at 4:21 PM #581214
    UCGal
    Participant

    [quote=DataAgent]Does the $293M include land acquisition costs? Or does the city already own the land?[/quote]
    The article says it would be built where Golden Hall is – adjacent to the current city building. In other words – the city already owns the land.

    I think it would be cheaper to buy some existing office buildings and retrofit. I’ve seen some “see-through” Class A buildings that would be prime candidates for satellite offices. The county does well with their main facility, then various regional facilities. The city should emulate that model.

    July 20, 2010 at 4:21 PM #581516
    UCGal
    Participant

    [quote=DataAgent]Does the $293M include land acquisition costs? Or does the city already own the land?[/quote]
    The article says it would be built where Golden Hall is – adjacent to the current city building. In other words – the city already owns the land.

    I think it would be cheaper to buy some existing office buildings and retrofit. I’ve seen some “see-through” Class A buildings that would be prime candidates for satellite offices. The county does well with their main facility, then various regional facilities. The city should emulate that model.

  • Author
    Posts
Viewing 11 posts - 1 through 11 (of 11 total)
  • The forum ‘Buying and Selling RE’ is closed to new topics and replies.