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Chain Affiliation, Store Prestige And Shopping Center Rents

Author

Listed:
  • Francois Des Rosiers

    (Laval University)

  • Marius Theriault

    (Laval University)

  • Jean Dube

    (Laval University)

Abstract

This study aims at testing whether, and to what extent, chain affiliation within regional and super-regional shopping centers affects store rent levels. The rent impact of chain affiliation is assessed in interaction with store prestige. The research rests on a database of 1,367 retail leases running over the 2000-2003 period in eleven regional and super- regional shopping centres located in Montreal and Quebec City, Canada. Findings suggest that, when compared with independent and local chain-affiliated stores selling low-end goods, middle and high-end goods chain stores operating at upper levels of affiliation are charged a rent premium. Such a profit-sharing scheme between major, high-end chain stores and mall owners, it is argued, will occur under a regulatory environment which limits the local supply of top retail space.

Suggested Citation

  • Francois Des Rosiers & Marius Theriault & Jean Dube, 2016. "Chain Affiliation, Store Prestige And Shopping Center Rents," Journal of Real Estate Research, American Real Estate Society, vol. 38(1), pages 27-58.
    • Handle: RePEc:jre:issued:v:38:n:1:2016:p:27-58
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    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol38n01/9853-02.27_58.pdf
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    More about this item

    JEL classification:

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

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