Supply chain challenges might be easing, but they are still among expense nuisances when it comes to office fit-out budgets, according to a report this week from Cushman & Wakefield.
Average fit-out costs in the Americas now total $136 per square foot, up 11% from 2022. Adaptive reuse of existing space costs is typically priced at a 10-15% discount.
It found that supply chain constraints, inflationary pressures, and increased labor costs are continuing to apply upward pressure.
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