Fernando de Querol Cumbrera
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Get in touch with us nowRetail shopping facility construction costs in the U.S. 2024, by city
As of the third quarter 2024, New York had some of the highest construction costs for center retail shopping facilities, at about 518 U.S. dollars per square foot. Meanwhile, Phoenix had one of the lowest costs in the country, with an average cost for the construction of a retail strip would average about 158 U.S. dollars per square foot in Denver.
Changing retail construction
After several years in a row of falling spending on new retail real estate, the value of the retail construction in the U.S. by the private sector has risen significantly between 2021 and 2023. The south was the U.S. region with shopping center real estate under construction at significant distance from the West of the country.
