Finding a location for your business in North Dakota is easier due to low facility and construction costs.|
The typical cost to rent quality office space in our largest metropolitan city is $13.00-$22.00/square foot/year. The purchase of a quality office building costs about $80 -$125/square foot. The typical cost to rent industrial space is $3.55-$5.00/square foot/year. Construction for an average 40,000 square foot industrial building costs about $37/square foot. The typical price for an improved 5 to 10 acre suburban site is $1.34/square foot. Rates in other areas of the state are even lower.
In addition, North Dakota communities frequently work with new and expanding manufacturers to create attractive, build-to-suit and lease options to meet their facility needs. Most communities are able to match local money with various federal, state and local programs to lower infrastructure costs for business expansions.
The following comparison of cities around the U.S. pertains to real estate operations and excludes our on-going business costs. Operating expenses include building payroll, maintenance, utilities, insurance, general and administrative costs, etc. The figures are expressed in dollars per square foot annually.
Office Operating Expenses - Class B Weighted Average
Source: 2005 Comparative Statistics, Society of Industrial and Office Realtors
||Central Business District
||Outside Central Business District|
|Minneapolis/St. Paul, MN
|Des Moines, IA