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The Effect of Location Variables on the Gross Rents of Neighborhood Shopping Centers

Author

Listed:
  • Kenton L. Ownbey

    (Norwest Investment Management and Trust 1740 Broadway Denver, Colorida 80274-8691)

  • Kyle Davis

    (Statistical Consulting Services, Inc. 1380 Lawrence St. Denver, Colorida 80204)

  • Harvey H. Sundel

    (Sundel Research, Inc. 1150 Delaware Street Denver, Colorida 80204)

Abstract

An understanding of the impact of location variables on the gross rents of retail centers is of paramount interest to owners of, and lenders to, these properties. Through experience and training, retail real estate appraisers, investors, lenders, leasing brokers, and sales brokers have formed professional opinions of the influence of location variables on gross rents. This article presents a method for modeling the options of over 100 of these practitioners. The modeling process can be replicated in alternative geographic settings to provide a current, region-specific assessment of the impact of location variables on the gross rents of neighborhood shopping centers.

Suggested Citation

  • Kenton L. Ownbey & Kyle Davis & Harvey H. Sundel, 1994. "The Effect of Location Variables on the Gross Rents of Neighborhood Shopping Centers," Journal of Real Estate Research, American Real Estate Society, vol. 9(1), pages 111-124.
    • Handle: RePEc:jre:issued:v:9:n:1:1994:p:111-124
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    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol09n01/v09p111.pdf
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    References listed on IDEAS

    as
    1. G. Stacy Sirmans & C.F. Sirmans & John D. Benjamin, 1990. "Rental Concessions and Property Values," Journal of Real Estate Research, American Real Estate Society, vol. 5(1), pages 141-152.
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    Citations

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    Cited by:

    1. John Henneberry & Tony McGough & Fotis Mouzakis, 2005. "The Impact of Planning on Local Business Rents," Urban Studies, Urban Studies Journal Limited, vol. 42(3), pages 471-502, March.
    2. William G. Hardin III & Marvin L. Wolverton, 2000. "Micro-Market Determinants of Neighborhood Center Rental Rate," Journal of Real Estate Research, American Real Estate Society, vol. 20(3), pages 299-322.
    3. Liu, Xuan & Tong, De & Huang, Jiangming & Zheng, Wenfeng & Kong, Minghui & Zhou, Guohui, 2022. "What matters in the e-commerce era? Modelling and mapping shop rents in Guangzhou, China," Land Use Policy, Elsevier, vol. 123(C).
    4. Chris Brooks & Sotiris Tsolacos, 2000. "Forecasting Models of Retail Rents," Environment and Planning A, , vol. 32(10), pages 1825-1839, October.
    5. Yoon, Heeyeun, 2018. "Interrelationships between retail clusters in different hierarchies, land value and property development: A panel VAR approach," Land Use Policy, Elsevier, vol. 78(C), pages 245-257.

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    More about this item

    JEL classification:

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

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