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Neighborhood Center Image and Rents


  • Hardin, William G, III
  • Wolverton, Marvin L


The impact of neighborhood-center image on rental rates is empirically modeled and tested. The neighborhood-center anchor does not substantially affect in-line, nonanchor rental rates and is more a proxy for a neighborhood center's trade-area economic base than an actual determinant of neighborhood-center rental rates. Image-related facilities' specific variables do affect rental rates. Concurrently, relative center size does impact rental rates, providing marginal support for the use of gravity models at the property subtype level. More modeling of retail rents and sales activity is warranted. Copyright 2001 by Kluwer Academic Publishers

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  • Hardin, William G, III & Wolverton, Marvin L, 2001. "Neighborhood Center Image and Rents," The Journal of Real Estate Finance and Economics, Springer, vol. 23(1), pages 31-46, July.
  • Handle: RePEc:kap:jrefec:v:23:y:2001:i:1:p:31-46

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    References listed on IDEAS

    1. Goldberg, Gerson M. & Harding, John P., 2003. "Investment characteristics of low- and moderate-income mortgage loans," Journal of Housing Economics, Elsevier, vol. 12(3), pages 151-180, September.
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    3. Deng, Yongheng & Quigley, John M. & Van Order, Robert & Mac, Freddie, 1996. "Mortgage default and low downpayment loans: The costs of public subsidy," Regional Science and Urban Economics, Elsevier, vol. 26(3-4), pages 263-285, June.
    4. Yongheng Deng & John M. Quigley & Robert Van Order, 2000. "Mortgage Terminations, Heterogeneity and the Exercise of Mortgage Options," Econometrica, Econometric Society, vol. 68(2), pages 275-308, March.
    5. Michael E. Staten & Gregory E. Elliehausen & E. Christopher Lundquist, 2003. "The impact of credit counseling on subsequent borrower credit usage and payment behavior," Proceedings 881, Federal Reserve Bank of Chicago.
    6. Chaves, Rodrigo A. & Gonzalez-Vega, Claudio, 1996. "The design of successful rural financial intermediaries: Evidence from Indonesia," World Development, Elsevier, vol. 24(1), pages 65-78, January.
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    8. John M. Clapp & Gerson M. Goldberg & John P. Harding & Michael LaCour-Little, 2001. "Movers and Shuckers: Interdependent Prepayment Decisions," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 29(3), pages 411-450.
    9. Quigley, John M & Van Order, Robert, 1995. "Explicit Tests of Contingent Claims Models of Mortgage Default," The Journal of Real Estate Finance and Economics, Springer, vol. 11(2), pages 99-117, September.
    10. Archer, Wayne R. & Ling, David C. & McGill, Gary A., 1996. "The effect of income and collateral constraints on residential mortgage terminations," Regional Science and Urban Economics, Elsevier, vol. 26(3-4), pages 235-261, June.
    11. Stavros Peristiani & Paul Bennett & Gordon Monsen & Richard Peach & Jonathan Raiff, 1997. "Credit, equity, and mortgage refinancings," Economic Policy Review, Federal Reserve Bank of New York, issue Jul, pages 83-99.
    12. Kau, James B. & Keenan, Donald C. & Muller III, Walter J. & Epperson, James F., 1995. "The Valuation at Origination of Fixed-Rate Mortgages with Default and Prepayment," The Journal of Real Estate Finance and Economics, Springer, vol. 11(1), pages 5-36, July.
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    Cited by:

    1. Ming-Long Lee & R. Kelley Pace, 2005. "Spatial Distribution of Retail Sales," The Journal of Real Estate Finance and Economics, Springer, vol. 31(1), pages 53-69, August.

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