Industry location patterns in metropolitan area office markets - Central Business Districts versus suburbs
This paper is an initial study of the location patterns among Information, Finance Insurance & Real Estate companies locating in Central Business Districts (CBD) versus suburbs, using SIC/NAICS codes at the zip code level. These patterns are initially studied through statistical analysis and then their effect on the probability of a company locating at a CBD versus the suburbs is determined through econometric modeling of real estate office market and economic parameters. In addition, the effect of all these factors on both areas’ vacancy rate is also studied. The studied cities include Atlanta, Boston, Chicago, Washington and Los Angeles with the study period being from 1998 through 2001, with quarterly data.
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- Chakravorty, Sanjoy & Koo, Jun & Lall, Smik V., 2003. "Metropolitan industrial clusters ; patterns and processes," Policy Research Working Paper Series 3073, The World Bank.
- Wayne R. Archer, 1981. "Determinants of Location for General Purpose Office Firms within Medium Size Cities," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 9(3), pages 283-297.
- John Clapp & Henry O. Pollakowski & Lloyd Lynford, 1992. "Intrametropolitan Location and Office Market Dynamics," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 20(2), pages 229-258.
- John S. Hekman, 1985. "Rental Price Adjustment and Investment in the Office Market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 13(1), pages 32-47.
- Wheaton, William C & Torto, Raymond G & Evans, Peter, 1997. "The Cyclic Behavior of the Greater London Office Market," The Journal of Real Estate Finance and Economics, Springer, vol. 15(1), pages 77-92, July.
- Patric H. Hendershott & Colin M. Lizieri & George A. Matysiak, 1999. "The Workings of the London Office Market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 27(2), pages 365-387.
- Webb, R. Brian & Fisher, Jeffrey D., 1996. "Development of an Effective Rent (Lease) Index for the Chicago CBD," Journal of Urban Economics, Elsevier, vol. 39(1), pages 1-19, January.
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