GLOBAL SUPPLY CHAIN
Spring 2023
It has been three years since the start of the Covid-19 pandemic, and yet the construction industry is still dealing with challenges due to supply chain issues across the globe. We continue to see extraordinary lead times and price increases for many products and materials specified on our projects. As the situation continues, our staff is working diligently to find creative ways to help keep schedules and budgets intact, and we are committed to collaborating with our clients as well as our Architecture and Design firm partners to identify solutions to ensure the success of our projects.
Bringing your construction partner on board early is a critical piece of budget and schedule management. As having Peacock as part of your team in the early planning phases ensures that there is adequate time to evaluate costs, and explore various value engineering options to meet schedule and budget expectations.
In terms of prices, while the cost of labor has remained relatively stable, we have seen material costs rise across the board by about 20%, since pre-pandemic times. Currently, the average cost for a commercial TI is $150 - $200 per square foot of usable space. Suppliers are experiencing cost increases in almost every category. The breakdown from Construction Dive below published on December 6, 2022, provides useful information on the price of materials.
MATERIAL PRICES REMAIN VOLATILE
As we confront this difficult time, we are leaning on our core principles which include creating long term relationships, finding innovative solutions and being solid and reliable. Our project teams are providing our clients with the highest level of communication, collaborating closely with our architect and engineer partners, and going the extra mile to execute according to the committed delivery schedule. We are grateful for these relationships and confident that together we will meet the challenges of of today and those to come in the future.
Peacock Mixers - Part I
Last fall, Peacock invited Summit Construction Management and Fennie & Mehl Architects to help us celebrate Oktoberfest in style.
Peacock Mixers - Part II
This Spring, we invited ASD|SKY Architecture and Design firm over to help celebrate St. Patrick’s Day.
Please let us know if you’d like to arrange an office meet-up, we’d love to have you!
SHOWCASE: 33 NEW MONTGOMERY
CONFERENCE CENTER & FITNESS SUITE
CBRE recently engaged Peacock Construction to build a first-class Conference Center and Fitness Suite for their tenants at 33 New Montgomery.
The project features a Conference Center, Catering Kitchen, and Employee Lounge on the 2nd floor, and a state-of-the-art Fitness Center and Locker Rooms in the basement. For more information, please click here.
