What are the construction cost realities for ground-up SE Orange industrial?
Central Florida Class A tilt-wall industrial costs $77–$140/SF for core and shell (depending on building size). Site work, soft costs, GC fee and contingency, and financing costs add $30–$50/SF. Total all-in replacement cost for a 300,000 SF Class A+ building in SE Orange County is currently $130–$175/SF. Florida construction labor costs increased 6.5% year-over-year into 2025; structural steel is up 45% since mid-2025; concrete up 4.7%. Developers who broke ground in 2024 locked better pricing — new projects must underwrite current costs and build 8–12% contingency into hard costs. The margin between all-in development cost and current stabilized sale pricing ($150–$175/SF) is thin on spec with no pre-lease.