Cushman & Wakefield Releases 2026 Americas Office Fit Out Cost Guide
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 26 2026
0mins
Should l Buy CWK?
Source: Newsfilter
- Rising Fit-Out Costs: The average office fit-out cost in the Americas reached $149 per square foot in 2026, reflecting a 5.5% year-over-year increase, which underscores the impact of overall inflation, compelling businesses to reassess capital investments and relocation budgets despite subdued construction activity.
- Labor and Material Cost Expectations: With 79% of contractors anticipating further increases in labor and material costs over the next six months and none expecting declines, businesses must factor in heightened cost pressures in their budgeting processes, potentially affecting profit margins.
- Uneven Market Demand: While some markets exhibit strong demand, the overall office construction pipeline has fallen to a 25-year low, indicating market weakness, particularly in Western markets where elevated labor costs and stringent building regulations exacerbate the situation.
- Significant Regional Variations: San Francisco ($228 psf), San Jose ($224 psf), and Seattle ($223 psf) are the most expensive markets, while Argentina ($57 psf), Brazil ($79 psf), and Colombia ($84 psf) are the most cost-effective, highlighting substantial regional disparities that businesses need to consider when strategizing.
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Analyst Views on CWK
Wall Street analysts forecast CWK stock price to rise
5 Analyst Rating
4 Buy
1 Hold
0 Sell
Strong Buy
Current: 12.500
Low
18.00
Averages
18.75
High
19.00
Current: 12.500
Low
18.00
Averages
18.75
High
19.00
About CWK
Cushman & Wakefield Limited is a global commercial real estate services firm for property owners and occupiers. The Company's segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC). Its core service lines include Services, Leasing, Capital markets, and Valuation and other. For real estate occupiers, the Company offers integrated facilities management, project and development services, portfolio administration, transaction management and strategic consulting. Its leasing services consist of two primary sub-services: owner representation and tenant representation. It represents both buyers and sellers in real estate purchase and sale transactions, and it arranges financing supporting purchases. The Company provides valuations and advice on real estate debt and equity decisions to clients through various services, including appraisal management, investment management, and financial reporting.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Cushman & Wakefield Appoints New Executives to Strengthen Global Team
- Executive Appointments: Cushman & Wakefield has appointed Nick Hilton as Executive Managing Director and Brendan McBride as Executive Director, both based in New Jersey, to enhance the firm's ability to serve clients effectively.
- Talent Investment: Hilton brings over 20 years of commercial real estate experience, having completed over $2 billion in transactions at CBRE and managed a 15 million-square-foot leasing portfolio, which is expected to drive strategic management and growth within the global portfolio solutions team.
- Team Expansion: The new team also includes Ryan Haggerty and Brody Strickland as Transaction Managers, and Adriana Balidemaj as Brokerage Specialist, further enhancing the team's expertise across industrial, data center, office, and retail sectors.
- Market Positioning: Cushman & Wakefield is committed to attracting top talent across the industry, reinforcing its position as a trusted advisor to prominent occupiers and investors globally, which is expected to strengthen its competitive edge in the market.
See More
Cushman & Wakefield Named One of America's Greatest Workplaces for Women 2026
- Recognition for Women’s Workplace: Cushman & Wakefield has been recognized by Newsweek as one of America's Greatest Workplaces for Women 2026, earning a perfect five-star rating, highlighting the company's commitment to promoting gender equality in the workplace.
- Extensive Survey Basis: The selection was based on a nationwide survey of over 89,000 women employees evaluated across 120 key performance indicators, ensuring a comprehensive and fair assessment that enhances the company's reputation in the industry.
- High Female Leadership Ratio: Women represent 70% of the firm's Board of Directors and 53% of executives, reflecting the company's emphasis on gender diversity and bringing broader perspectives and innovation to decision-making processes.
- Commitment to Sustainability: Cushman & Wakefield's 2024 Sustainability Report emphasizes the importance of employee voices, aiming to create an inclusive work environment that drives sustainable growth and social responsibility.
See More
Cushman & Wakefield Releases 2026 Americas Office Fit Out Cost Guide
- Rising Fit-Out Costs: The average office fit-out cost in the Americas reached $149 per square foot in 2026, reflecting a 5.5% year-over-year increase, which underscores the impact of overall inflation, compelling businesses to reassess capital investments and relocation budgets despite subdued construction activity.
- Labor and Material Cost Expectations: With 79% of contractors anticipating further increases in labor and material costs over the next six months and none expecting declines, businesses must factor in heightened cost pressures in their budgeting processes, potentially affecting profit margins.
- Uneven Market Demand: While some markets exhibit strong demand, the overall office construction pipeline has fallen to a 25-year low, indicating market weakness, particularly in Western markets where elevated labor costs and stringent building regulations exacerbate the situation.
- Significant Regional Variations: San Francisco ($228 psf), San Jose ($224 psf), and Seattle ($223 psf) are the most expensive markets, while Argentina ($57 psf), Brazil ($79 psf), and Colombia ($84 psf) are the most cost-effective, highlighting substantial regional disparities that businesses need to consider when strategizing.
See More
Middle East War Intensifies Global Economic Impact
- Real Estate Transactions Decline: According to a Goldman Sachs report, residential real estate transactions in the UAE fell by 38% in the second week of March compared to the same period in 2025, with transaction values down 42%, indicating a direct economic impact from the ongoing conflict that is shaking investor confidence.
- Market Outlook Uncertainty: JLL CEO Christian Ulbrich noted that despite a previously optimistic outlook for 2026, the prolonged war has introduced new uncertainties for the global economy, particularly affecting inflation trends in the U.S. and Europe that were previously showing signs of improvement.
- Employee Safety Priority: Ulbrich emphasized his concern for the safety of employees in the Middle East and has been in close contact with local management to ensure their well-being, reflecting the company's humanitarian commitment and responsibility during the crisis.
- Impact on Growth Trajectory: Ulbrich stated that the war has interrupted a previously strong growth trajectory in the region, particularly in Dubai, which has experienced unprecedented urban development over the last decade, and this uncertainty is expected to have lasting negative effects on the economy.
See More
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- Industry Challenges: The Real Estate Operations sector continues to face pressures from geopolitical instability and macroeconomic uncertainties, leading clients to focus on cost management and postpone property purchases and leases, particularly in select asset classes, which may result in decreased market activity in the short term.
- Outsourcing Trend: An increasing number of corporations and public sector organizations are opting to outsource their real estate needs to enhance execution and operational efficiency, creating new opportunities for real estate operations participants, especially in sectors like healthcare, finance, and technology.
- Company Performance: Jones Lang LaSalle (JLL) is projected to see adjusted EBITDA growth of 11% and 12.8% for 2026 and 2027, respectively, reflecting strong performance in diversification and cost optimization, which is expected to further enhance its competitive position in the market.
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See More
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- Executive Appointment: Cushman & Wakefield has appointed Victoria Lake as CFO for APAC & EMEA, who previously served as Deputy CFO at Accenture, bringing 20 years of extensive financial management experience that is expected to drive growth and profitability in these regions.
- Leadership in Financial Transformation: Lake led multiple M&A teams at Accenture, successfully acquiring five sustainability companies, and her expertise is anticipated to significantly support Cushman & Wakefield's financial transformation, enhancing decision-making efficiency and driving profitable growth.
- Driving Digital Transformation: Lake's fluency in digital operating models, AI, and advanced analytics will help the company improve productivity and efficiency while providing its salesforce with advanced digital tools, enhancing the innovation of client solutions.
- Strategic Fit: Lake expressed that Cushman & Wakefield's culture and strategy align closely with her values, and she looks forward to contributing to the company's profitable growth, further advancing its transformation into a globally integrated and digitally enabled platform.
See More
Cushman & Wakefield Appoints New Executives to Strengthen Global Team
- Executive Appointments: Cushman & Wakefield has appointed Nick Hilton as Executive Managing Director and Brendan McBride as Executive Director, both based in New Jersey, to enhance the firm's ability to serve clients effectively.
- Talent Investment: Hilton brings over 20 years of commercial real estate experience, having completed over $2 billion in transactions at CBRE and managed a 15 million-square-foot leasing portfolio, which is expected to drive strategic management and growth within the global portfolio solutions team.
- Team Expansion: The new team also includes Ryan Haggerty and Brody Strickland as Transaction Managers, and Adriana Balidemaj as Brokerage Specialist, further enhancing the team's expertise across industrial, data center, office, and retail sectors.
- Market Positioning: Cushman & Wakefield is committed to attracting top talent across the industry, reinforcing its position as a trusted advisor to prominent occupiers and investors globally, which is expected to strengthen its competitive edge in the market.
See More
Cushman & Wakefield Named One of America's Greatest Workplaces for Women 2026
- Recognition for Women’s Workplace: Cushman & Wakefield has been recognized by Newsweek as one of America's Greatest Workplaces for Women 2026, earning a perfect five-star rating, highlighting the company's commitment to promoting gender equality in the workplace.
- Extensive Survey Basis: The selection was based on a nationwide survey of over 89,000 women employees evaluated across 120 key performance indicators, ensuring a comprehensive and fair assessment that enhances the company's reputation in the industry.
- High Female Leadership Ratio: Women represent 70% of the firm's Board of Directors and 53% of executives, reflecting the company's emphasis on gender diversity and bringing broader perspectives and innovation to decision-making processes.
- Commitment to Sustainability: Cushman & Wakefield's 2024 Sustainability Report emphasizes the importance of employee voices, aiming to create an inclusive work environment that drives sustainable growth and social responsibility.
See More
Cushman & Wakefield Releases 2026 Americas Office Fit Out Cost Guide
- Rising Fit-Out Costs: The average office fit-out cost in the Americas reached $149 per square foot in 2026, reflecting a 5.5% year-over-year increase, which underscores the impact of overall inflation, compelling businesses to reassess capital investments and relocation budgets despite subdued construction activity.
- Labor and Material Cost Expectations: With 79% of contractors anticipating further increases in labor and material costs over the next six months and none expecting declines, businesses must factor in heightened cost pressures in their budgeting processes, potentially affecting profit margins.
- Uneven Market Demand: While some markets exhibit strong demand, the overall office construction pipeline has fallen to a 25-year low, indicating market weakness, particularly in Western markets where elevated labor costs and stringent building regulations exacerbate the situation.
- Significant Regional Variations: San Francisco ($228 psf), San Jose ($224 psf), and Seattle ($223 psf) are the most expensive markets, while Argentina ($57 psf), Brazil ($79 psf), and Colombia ($84 psf) are the most cost-effective, highlighting substantial regional disparities that businesses need to consider when strategizing.
See More
Middle East War Intensifies Global Economic Impact
- Real Estate Transactions Decline: According to a Goldman Sachs report, residential real estate transactions in the UAE fell by 38% in the second week of March compared to the same period in 2025, with transaction values down 42%, indicating a direct economic impact from the ongoing conflict that is shaking investor confidence.
- Market Outlook Uncertainty: JLL CEO Christian Ulbrich noted that despite a previously optimistic outlook for 2026, the prolonged war has introduced new uncertainties for the global economy, particularly affecting inflation trends in the U.S. and Europe that were previously showing signs of improvement.
- Employee Safety Priority: Ulbrich emphasized his concern for the safety of employees in the Middle East and has been in close contact with local management to ensure their well-being, reflecting the company's humanitarian commitment and responsibility during the crisis.
- Impact on Growth Trajectory: Ulbrich stated that the war has interrupted a previously strong growth trajectory in the region, particularly in Dubai, which has experienced unprecedented urban development over the last decade, and this uncertainty is expected to have lasting negative effects on the economy.
See More
Recommended Real Estate Operations Stocks Amid Challenges
- Industry Challenges: The Real Estate Operations sector continues to face pressures from geopolitical instability and macroeconomic uncertainties, leading clients to focus on cost management and postpone property purchases and leases, particularly in select asset classes, which may result in decreased market activity in the short term.
- Outsourcing Trend: An increasing number of corporations and public sector organizations are opting to outsource their real estate needs to enhance execution and operational efficiency, creating new opportunities for real estate operations participants, especially in sectors like healthcare, finance, and technology.
- Company Performance: Jones Lang LaSalle (JLL) is projected to see adjusted EBITDA growth of 11% and 12.8% for 2026 and 2027, respectively, reflecting strong performance in diversification and cost optimization, which is expected to further enhance its competitive position in the market.
- Growth Potential: CBRE Group anticipates revenue and earnings growth rates of 10.8% and 15.4% for 2026, while Cushman & Wakefield expects growth rates of 4.5% and 18%, demonstrating the resilience and growth potential of these companies in the current market environment.
See More
Cushman & Wakefield Appoints New CFO for APAC & EMEA
- Executive Appointment: Cushman & Wakefield has appointed Victoria Lake as CFO for APAC & EMEA, who previously served as Deputy CFO at Accenture, bringing 20 years of extensive financial management experience that is expected to drive growth and profitability in these regions.
- Leadership in Financial Transformation: Lake led multiple M&A teams at Accenture, successfully acquiring five sustainability companies, and her expertise is anticipated to significantly support Cushman & Wakefield's financial transformation, enhancing decision-making efficiency and driving profitable growth.
- Driving Digital Transformation: Lake's fluency in digital operating models, AI, and advanced analytics will help the company improve productivity and efficiency while providing its salesforce with advanced digital tools, enhancing the innovation of client solutions.
- Strategic Fit: Lake expressed that Cushman & Wakefield's culture and strategy align closely with her values, and she looks forward to contributing to the company's profitable growth, further advancing its transformation into a globally integrated and digitally enabled platform.
See More
