Jun 17 • Development
Understanding Replacement Cost
I'm trying to get smarter on replacement cost for small bay industrial — specifically concrete, sub-10K SF units, in infill, established MSAs.
Every conversation seems to produce a different number and I'm curious whether anyone out there is actually making institutional-quality product pencil at today's construction costs in supply-constrained infill locations — and if so, how.
If you have a development budget you're comfortable sharing (even anonymized), I'd genuinely love to see how the sources & uses stack up and try and understand the underwriting. Trying to build a better framework for evaluating replacement cost vs. acquisition pricing.
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Understanding Replacement Cost
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