![]() ![]() The cost to build a shopping center includes the land price, which can vary depending on location and availability. For example, if you were going to build a 1,000-square-foot strip mall with three stores, you would need 30,000 square feet of land and spend $6 million. The average cost of building a strip mall is $200 per square foot. The cost to build a shopping center depends on many factors, such as the size of the center, location, and number of tenants. ![]() The average cost per square foot for an indoor mall ranges from $400 to $600 for an outdoor center, it’s between $250 and $350 per square foot. A typical open-air center costs about $100 million less than that. However, according to the ICSC, the average cost per square foot ranges from $180 per square foot for a small strip center with 10 stores to $500 per square foot for an upscale regional mall with 30 stores.Īn average-sized enclosed mall costs about $750 million to build, according to the ICSC. The cost to build a shopping center depends on many factors - including location, size and number of tenants. But how much does it cost to build a shopping center? shopping center industry is expected to grow by $24 billion in 2021, according to the International Council of Shopping Centers (ICSC). Shopping centers are a big business, and they’re getting bigger every year. ![]()
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