The construction market in North America is forecasted by GlobalData to grow by 1.9% in real terms in 2023, having decreased by 5.7% in 2022. A key growth market will be the infrastructure market, with output rising by 11.1% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are North America’s five largest office building construction projects that were initiated in Q4 2023, according to GlobalData’s construction projects database.
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1. Potrero Power Plant Mixed-Use Community
The project involves the construction of a 492,386m2 mixed-use community comprising 20 buildings on 11.7ha of land in California, the US.
Construction work started in Q4 2023 and is expected to be completed in Q4 2035.
The project aims to provide better office, residential, hotel and retail facilities in the region. Buy the profile here.
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2. North Office Building Modernization
The project involves the modernization of a 50,167.64m2 office building in Milwaukee, Wisconsin, the US.
Construction work commenced in Q4 2023 and is expected to finish in Q4 2027.
The project aims to doubling Milwaukee campus by investing in the future of the workplace for Northwestern Mutual and a thriving downtown community in the region. It will create 2,000 jobs. Buy the profile here.
3. North Harwood Street and Woodall Rodgers Freeway Office Tower
The project involves the construction of a 45,833m2, 30-story, office tower in Dallas, Texas, the US.
Construction work started in Q4 2023 and is forecast to complete in Q2 2027.
The project aims to enhance office and commercial facilities in the region.
4. Ford Pro Elite Commercial Service Center
The project involves the construction of a commercial service center on 32ha in Scottsdale, Arizona, the US.
Construction work commenced in Q4 2023 and is expected to be completed in Q2 2026.
The project aims to provide a wide range of commercial space facilities in the region. Buy the profile here.
5. Fulton Market Office Building
The project involves the construction of a 37,997m2, 11-story office building in Chicago, Illinois, the US.
Construction work started in Q4 2023 and is expected to be completed in Q4 2025.
The project aims to achieve WELL Building Standard (WELL) and Leadership in Energy and Environmental Design (LEED) Silver certifications for air quality, material choices, energy efficiency, and environmental impact. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
