IDEAS home Printed from https://ideas.repec.org/a/taf/rjelxx/v25y2017i2p265-282.html
   My bibliography  Save this article

Determinants of Cap Rates in U.S. Office markets

Author

Listed:
  • Monica Chuangdumrongsomsuk
  • Franz Fuerst

Abstract

This study examines the determinants of office capitalization rates across three major U.S. cities: New York City, Chicago, and Los Angeles. Analyzing a sample of 1,804 office properties for the 2000 to 2013 time period, the findings suggest that the drivers of capitalization rates vary considerably across the three cities, even for comparable properties. These differences can hypothetically be beneficial for diversifying real estate portfolio investments. The results further demonstrate that capitalization rates are largely driven by local, as well as property-specific variables.

Suggested Citation

  • Monica Chuangdumrongsomsuk & Franz Fuerst, 2017. "Determinants of Cap Rates in U.S. Office markets," Journal of Real Estate Literature, Taylor & Francis Journals, vol. 25(2), pages 265-282, January.
    • Handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:265-282
    DOI: 10.1080/10835547.2017.12090458
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/10835547.2017.12090458
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/10835547.2017.12090458?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:rjelxx:v:25:y:2017:i:2:p:265-282. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/rjel20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.