On September 23rd we are releasing a dataset that has never existed in this industry.

Ask five people what it costs to build a Class A facility and you get five different numbers. All from memory. Most a couple of years stale. None from an actual contract.

So we went and partnered with the best.

What does it really cost per square foot today, not in 2023? How long does a project actually take, versus how long it was scheduled to take? How does that change between Dallas, Denver, and a tertiary market in Ohio? How does it change at 60,000 square feet instead of 100,000?

Replacement cost sits underneath appraisals, underwriting, lending, and every buy-versus-build conversation in the industry. It has also been the least verifiable input in the model.

Until now. ARCO/Murray is opening their historic completion data to TractIQ: submitted construction costs on 150+ completed projects across 27 states, more than $1.8 billion of built storage.

Noah Starr breaks it down with Eric Fleps, Principal at ARCO/Murray, Rachel Parham, President of Noah’s Ark Development, and Danny Cunningham, Senior Managing Director Investments at Marcus & Millichap.