|
|
 |
| Average Asking Rents (Gross
Rent per Square Foot) |
| |
CBD |
Suburban |
| Class A office (average) |
$17.50 |
$17.50 |
| Class B Office (full service rate |
$12.00 |
$14.00 |
| Bulk Warehouse (triple net) |
$3.25 |
| Manufacturing (triple net) |
$4.25 |
| High Tech/R&D (triple net) |
$7.00 |
| Vacancy
Rates (%) |
| |
CBD |
Suburban |
| Class A office |
11.0% |
13.0% |
| Class B Office |
14.0% |
18.0% |
| Bulk Warehouse |
15.0% |
| Manufacturing |
7.0% |
| High Tech/R&D |
2.0% |
Source: Pyramid Brokerage Company, 2007 Market Report
Updated: July 2007 |
| Development
Land (Price per Acre) |
| Classification |
Low |
High |
| Land in office Parks |
$60,000 |
$100,000 |
| Land in Industrial Parks |
$25,000 |
$45,000 |
| Office/Industrial Land - Non Park |
$15,000 |
$50,000 |
| Retail/commercial Land |
$40,000 |
$1,250,000 |
| Residential |
$5,000 |
$25,000 |
Source: Pyramid Brokerage Company, 2007 Market Report
Updated: July 2007 |
 Spreadsheet comparing real estate costs in Upstate NY cities
 Construction
costs
According to the January 1998, R.S. Means Composite Index, the
Labor and Material Construction Cost index for Syracuse is 112.7
| Syracuse Area – Average Construction Costs |
| Average Construction Costs / Price per Square Foot |
Low |
High |
| Class A Office |
$110 |
$140 |
| Class B Office |
$85 |
$110 |
| Bulk Warehouse |
$32 |
$50 |
| Manufacturing |
$45 |
$75 |
| High Tech/R&D |
$100 |
$200 |
| (Cost figures do not include land or soft costs associated with the project) |
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