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Explaining Location Patterns of Suburban Offices

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  • Wayne R. Archer
  • Marc T. Smith

Abstract

Suburban office markets exhibit a pattern of variegated clustering that is little explained by the conventional theories of urban form based on agglomeration effects and the cost of distance. To explain the pattern, this paper introduces industry economies of scale for “Class A” offices. Empirical tests for industry economies of scale are reported, based on data from the office market of Houston, Texas. The models presented, under conditions typical of North American cities in recent decades, imply the patterns of variegated clustering that are observed. They suggest a sequence of clusters, increasing in size and distance from the central business district. Further, they imply the potential for mass movement by tenants from older clusters to new.

Suggested Citation

  • Wayne R. Archer & Marc T. Smith, 2003. "Explaining Location Patterns of Suburban Offices," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 31(2), pages 139-164, June.
    • Handle: RePEc:bla:reesec:v:31:y:2003:i:2:p:139-164
    DOI: 10.1111/1540-6229.00061
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    Cited by:

    1. Miwa Matsuo & Hiroyuki Iseki, 2020. "Giving up Job Search Because I Don't Have a Car: Labor Market Participation and Employment Status Among Single Mothers With and Without Cars," Discussion Paper Series DP2020-07, Research Institute for Economics & Business Administration, Kobe University.
    2. Maarten Jennen & Patrick Verwijmeren, 2010. "Agglomeration Effects and Financial Performance," Urban Studies, Urban Studies Journal Limited, vol. 47(12), pages 2683-2703, November.
    3. Maarten G.J. Jennen & Dirk Brounen, 2009. "The Effect of Clustering on Office Rents: Evidence from the Amsterdam Market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 37(2), pages 185-208, June.
    4. Du T. HUYNH, 2014. "The Effects Of Clustering On Office Rents: Empirical Evidence From The Rental Office Market In Ho Chi Minh City," Theoretical and Empirical Researches in Urban Management, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 9(1), pages 5-26, February.
    5. Fuerst, Franz, 2007. "Office Rent Determinants: A Hedonic Panel Analysis," MPRA Paper 11445, University Library of Munich, Germany.
    6. Martijn (M.I.) Droes & Boris Ziermans & Philip Koppels, 2017. "Information Asymmetry, Lease Incentives, and the Role of Advisors in the Market for Commercial Real Estate," Tinbergen Institute Discussion Papers 17-106/IV, Tinbergen Institute.
    7. Sofia Dermisi, 2005. "Industry location patterns in metropolitan area office markets - Central Business Districts versus suburbs," Urban/Regional 0509007, University Library of Munich, Germany.
    8. Charles-Olivier Amédée-Manesme & Francois Des Rosiers & Philippe Grégoire, 2017. "Commercial leases, terms and options in the light of game theory," ERES eres2017_175, European Real Estate Society (ERES).

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