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Spatial Versus Non-Spatial Determinants of Shopping Center Rents: Modeling Location and Neighborhood-Related Factors

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  • Francois Des Rosiers

    (Urban and Real Estate Management, Business Administration, Laval University, Pav. Palasis-Prince, Ste-Foy, Quebec, Canada G1K 7P4)

  • Marius Theriault

    (Center for Research in Regional Planning and Development, Laval University)

  • Laurent Menetrier

    (Laval University)

Abstract

This study is an attempt to model the economic trade-off between spatial and non-spatial determinants of shopping center rents while assessing the role of neighborhood and location attributes in the rent setting process. For that purpose, two space-related indices, namely the Economic Potential Index (EPI) and the Center Attraction Index (CAI), are designed based on a major origin-destination phone survey and on ?nancial data obtained for eight major shopping centers in Quebec City, Canada. The database, which is processed through a regional GIS, includes 1,007 retail units, representing some 4.4 million square feet of gross leasable area. While ?ndings con?rm that the EPI act as a signi?cant determinant of shopping center rents, they also bring out the complexity of the relationships between endogenous and exogenous rent determinants.

Suggested Citation

  • Francois Des Rosiers & Marius Theriault & Laurent Menetrier, 2005. "Spatial Versus Non-Spatial Determinants of Shopping Center Rents: Modeling Location and Neighborhood-Related Factors," Journal of Real Estate Research, American Real Estate Society, vol. 27(3), pages 293-320.
    • Handle: RePEc:jre:issued:v:27:n:3:2005:p:293-320
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    References listed on IDEAS

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    Cited by:

    1. FrantiSek Križan & Kristina BilkovA & Peter Barlik & Pavol Kita & Peter Kita, 2018. "Spatial Distribution Of Consumer Preferences: Case Study Of Shopping Malls In Bratislava," Theoretical and Empirical Researches in Urban Management, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 13(1), pages 13-21, February.
    2. Francois Des Rosiers & Marius Theriault & Catherine Lavoie, 2009. "Retail Concentration and Shopping Center Rents - A Comparison of Two Cities," Journal of Real Estate Research, American Real Estate Society, vol. 31(2), pages 165-208.
    3. Wieland, Thomas, 2014. "Räumliches Einkaufsverhalten und Standortpolitik im Einzelhandel unter Berücksichtigung von Agglomerationseffekten: Theoretische Erklärungsansätze, modellanalytische Zugänge und eine empirisch-ökonome," MPRA Paper 77163, University Library of Munich, Germany.
    4. Pierluigi Morano & Paolo Rosato & Francesco Tajani & Benedetto Manganelli & Felicia Di Liddo, 2019. "Contextualized Property Market Models vs. Generalized Mass Appraisals: An Innovative Approach," Sustainability, MDPI, vol. 11(18), pages 1-28, September.
    5. François Des Rosiers & Marius Thériault & Gjin Biba & Marie-Hélène Vandersmissen, 2017. "Greenhouse gas emissions and urban form: Linking households’ socio-economic status with housing and transportation choices," Environment and Planning B, , vol. 44(5), pages 964-985, September.

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

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