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An Investigation of the Effect of Eco-Labeling on Office Occupancy Rates

  • Franz Fuerst

    ()

    (School of Real Estate & Planning, University of Reading Business School)

  • Patrick McAllister

    ()

    (School of Real Estate & Planning, University of Reading)

This paper investigates the effect of eco-labeling on the occupancy rates of commercial offices in the US. The occupancy rates of LEED and Energy Star labeled offices are compared to a sample of non-labeled offices. Using OLS and quantile regression analyses, a significant positive relationship is found between occupancy rate and the eco-label. Controlling for differences in age, height, building class and quality, the results suggest that occupancy rates are approximately 8% higher in LEED labeled offices and 3% higher in Energy Star labeled offices. However, for Energy Star labeled offices effects are concentrated in certain market segments.

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File URL: http://www.henley.reading.ac.uk/rep/fulltxt/0809.pdf
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Paper provided by Henley Business School, Reading University in its series Real Estate & Planning Working Papers with number rep-wp2009-08.

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Length: 24 pages
Date of creation: 2009
Date of revision:
Handle: RePEc:rdg:repxwp:rep-wp2009-08
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Web page: http://www.henley.reading.ac.uk/

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  1. Quigley, John M., 2006. "Urban Economics," Berkeley Program on Housing and Urban Policy, Working Paper Series qt0jr0p2tk, Berkeley Program on Housing and Urban Policy.
  2. Matthew J. Kotchen, 2003. "Green Markets and Private Provision of Public Goods," Department of Economics Working Papers 2003-05, Department of Economics, Williams College.
  3. Roger Koenker & Kevin F. Hallock, 2001. "Quantile Regression," Journal of Economic Perspectives, American Economic Association, vol. 15(4), pages 143-156, Fall.
  4. 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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