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A Commercial Real Estate Matching Method for Return Estimations

Author

Listed:
  • Spenser Robinson

    (Central Michigan University)

  • Alan Reichert

    (Cleveland State University)

Abstract

This paper applies hedonic regression to estimate the grid adjustment factors for a national sample of commercial office properties. The paper demonstrates the viability of hedonic grid regression in commercial real estate. Several robustness tests are employed to test the reliability of the empirical results. The study finds that the hedonic approach yields slightly more accurate and stable prediction result than a basic matching model without hedonic adjustments.

Suggested Citation

  • Spenser Robinson & Alan Reichert, 2015. "A Commercial Real Estate Matching Method for Return Estimations," Journal of Real Estate Research, American Real Estate Society, vol. 37(4), pages 563-596.
    • Handle: RePEc:jre:issued:v:37:n:3:2015:p:563-596
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    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol37n04/9851-04.563_596.pdf
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    Cited by:

    1. Christensen, Pernille H. & Robinson, Spenser J. & Simons, Robert A., 2018. "The influence of energy considerations on decision making by institutional real estate owners in the U.S," Renewable and Sustainable Energy Reviews, Elsevier, vol. 94(C), pages 275-284.

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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