Building a Shopping Center
FACTORS THAT CONTRIBUTE TO THE COST OF BUILDING A SHOPPING CENTER
If you’re thinking about building a shopping center in Garland, you must consider all of the costs involved in this new construction project. From development to interior finishing, your remodeling contractor will assist you every step of the way and reveal all of the expenses required to build a new retail property.
New Construction Costs of a Shopping Center
- Cost of Materials – Many building materials are needed to build a shopping center, including the concrete foundation, roofing, plumbing, HVAC systems, flooring, doors, exterior stone or brick walls, stairwells and escalators, and security systems. Material costs depend on the design and size of the shopping center as well as the extent to which the remodeling contractor is expected to finish the retail space inside. The overall cost of materials can amount to half of the project’s total cost.
- Cost of Land and Exterior Elements – This expense typically depends on the location of the new construction. Building in a city is usually more expensive than building on the outskirts of a town or in a rural region. You must also consider the cost of parking lot construction as well as landscaping around the building’s exterior.
- Cost of Design – The cost of architectural design and development is usually 17% of the total cost of new construction. Design is an extremely important component of the project because it involves structural plans, paperwork, and permits.
- Cost of Equipment – Heavy machinery typically represents 5% of the total cost of new construction.
- Cost of Labor – The cost of labor can vary depending on the architectural firm, remodeling contractor, and subcontractors working on the project, but it typically constitutes 38% of the project’s total cost.
Before making a decision to begin the construction of a new shopping center, carefully examine the costs involved, both big and small. Consider various locations and building materials to get the best value for money. If you are about to enter into a new construction project in Garland, consider hiring trained professionals at Monoxy, an experienced remodeling contractor.
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