Commercial Real Estate Construction Cost

[XBoxBoy]

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/

[DataAgent]

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

[DataAgent]

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

[DataAgent]

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

[DataAgent]

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

[DataAgent]

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

[UCGal]

[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.

[UCGal]

[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.

[UCGal]

[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.

[UCGal]

[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.

[UCGal]

[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]

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