Construction Costs

Construction Costs

Greater St. Louis, which spans the Missouri-Illinois border, offers a dynamic commercial real estate market with seven distinct submarkets. At the end of 2009, the 16-county region maintained approximately 120 million square feet of office space and nearly 264 million square feet of industrial space.

Construction in Greater St. Louis remained strong throughout 2009. During the fourth quarter, approximately 144,000 square feet of new office space was completed, and on the industrial side, there was close to 164,000 square feet of new industrial space completed (1).

Estimated 2009 Construction Cost Index
Construction Costs/ sq.ft.	St. Louis, MO-IL MSA	U.S.
Factories	$78.72	$76.50
Offices Low Rise (1 to 4 stories)	$123.48	$120.00
Offices Mid Rise (5 to 10 stories)	$122.45	$119.00
Offices High Rise (11 to 20 stories)	$156.41	$152.00
Warehouses & Storage Buildings	$61.74	$60.00
Warehouses & Offices Combination	$67.91	$66.00
Source: "Building Construction Cost Data" RS Means, 2009. Note: Construction costs for the St. Louis, MO-IL MSA are obtained with this formula: (Index for St. Louis (102.9)/100) x National Median Cost.

Sources: (1) "St. Louis Office Market, Year-End 2009" CoStar and "St. Louis Industrial Market, Year-End 2009" CoStar, 2009.