U.S. retail shopping facility construction costs by select city 2018

Construction costs across the United States have increased over the last years since the recession. For center retail shopping facilities, Honolulu had some of the highest construction costs, at about 350 U.S. dollars per square foot, in comparison to one of the lowest costs in the country, where a retail strip would average about 115 U.S. dollars per square foot in Phoenix.

Changing retail construction

Mirroring the overall construction market, private sector retail construction has generally increased over the last few years. Houston has one of the most active retail construction market in the United States as of the first half of 2019. However, retail construction experienced a decline in 2018, likely due to the growth of e-commerce. Changing trends are moving consumers away from the classic shopping malls and instead are shifting towards mixed-use projects to animate retail centers. Renovations are now more common than new construction in the retail sector. The majority of retail facilities that are still under construction are more general retail facilities, as opposed to malls or power centers.

Average construction costs of retail shopping facilities in the United States in 2018, by select city

CenterStrip
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Source

Release date

April 2019

Region

United States

Survey time period

2018

Supplementary notes

Figures are Statista calculations, based on low and high building costs in the respective market.

The data in the chart below represents estimates of current building costs in each respective market. Costs may vary as a consequence of factors such as site conditions, climatic conditions, standards of specification, market conditions, etc. Values of U.S. locations represent hard construction costs based on U.S. dollars per square foot of gross floor area.

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Statistics on "Construction cost of U.S. commercial buildings"

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