Tricks Of The Trade: Per Square Foot Costs For Renovations
By B. Kevin Folsom, CEP
Published in the April 2014 issue of Today’s Facility Manager
QI am looking for a formula to use as a general guideline for the renovation of an existing office (general Class A space). I have been tasked with putting together a budget for our locations in the U.S. and Latin America.
Is there a formula that can be used to determine the per square foot cost—and hopefully one broken down by category (e.g., carpet, paint, furniture, lighting, HVAC). I realize this is a very broad subject but am looking for a starting point.
Americas Facility Manager
Global Business Operations
Another possible resource would be IFMA; you can find out if they have general industry metrics that you can use. Also, ask a general contractor for a schedule of values on a recent construction project. These have the breakdowns you are looking for.