Spatial Versus Non-Spatial Determinants of Shopping Center Rents PDF Download
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Author: Francois Des Rosiers
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This study is an attempt to model the economic trade-off between spatial and non-spatial determinants of shopping center rents while assessing the role of neighborhood and location attributes in the rent setting process. For that purpose, two space-related indices, namely the Economic Potential Index (EPI) and the Center Attraction Index (CAI), are designed based on a major origin-destination phone survey and on financial data obtained for eight major shopping centers in Quebec City, Canada. The database, which is processed through a regional GIS, includes 1,007 retail units, representing some 4.4 million square feet of gross leasable area. While findings confirm that the EPI act as a significant determinant of shopping center rents, they also bring out the complexity of the relationships between endogenous and exogenous rent determinants.
Author: Francois Des Rosiers
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This study is an attempt to model the economic trade-off between spatial and non-spatial determinants of shopping center rents while assessing the role of neighborhood and location attributes in the rent setting process. For that purpose, two space-related indices, namely the Economic Potential Index (EPI) and the Center Attraction Index (CAI), are designed based on a major origin-destination phone survey and on financial data obtained for eight major shopping centers in Quebec City, Canada. The database, which is processed through a regional GIS, includes 1,007 retail units, representing some 4.4 million square feet of gross leasable area. While findings confirm that the EPI act as a significant determinant of shopping center rents, they also bring out the complexity of the relationships between endogenous and exogenous rent determinants.
Author: François Des Rosiers
Publisher: Québec : Faculté des sciences de l'administration de l'Université Laval, Direction de la recherche
ISBN: 9782895241683
Category :
Languages : en
Pages : 31
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Book Description
Author: Sumanta Deb
Publisher: GRIN Verlag
ISBN: 3668168032
Category : Business & Economics
Languages : en
Pages : 67
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Book Description
Research Paper (postgraduate) from the year 2015 in the subject Business economics - Operations Research, grade: 2.5, , course: PhD, language: English, abstract: The purpose of this research is to bridge the gap between retail research results on customer movement in shopping centers and importance of space syntax analysis in predicting indoor navigation pattern for better understanding of store space allocation, store location and tenanting decision making in shopping malls. A bid-rent model is specified and solved under the condition of profit maximization of individual stores to examine the impact of customer density in predicting store space allocation and rental decision making. To predict the importance of visibility in customer density distribution, data were collected through recording navigational preferences of individuals in computer generated situations of shopping mall junctions using a convenience sampling method. The visibility characteristics were studied using visibility graph analysis by syntax 2D software tools. The model is extended under condition of revenue maximization of the entire mall in rationalizing tenanting decision making. Tenanting, rent and store space allocation decisions depend on the customer density distribution throughout the shopping mall. Natural movement and consequent natural customer density depend on the visual integration of a location along with metric distance from the access point. Revenue maximization of the shopping mall depends on the strategic positioning of different store types. The positioning of different stores in turn depends on the spatial configuration, which dictates natural customer density distribution. This paper, being the first of its kind, integrates retail research wisdom and syntactic measures to illustrate the efficacy of space design as a strategic decision making tool, instead of just an accommodator of functions.
Author: Sumanta Deb
Publisher: GRIN Verlag
ISBN: 3668367329
Category : Architecture
Languages : en
Pages : 98
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Book Description
Research Paper (postgraduate) from the year 2016 in the subject Art - Architecture / History of Construction, grade: 2.5, Indian Institute of Engineering Science and Technology, Shibpur (Indian Institute of Engineering Science and Technology), language: English, abstract: Organized retail formats are growing twice as fast as their traditional counterparts. But, in spite of that, the mall management is concerned about the rising rate of vacancy leading to economic unsustainability. The reason for high mall vacancy rates can be ascribed to faulty tenant placement and irrational rental plan. Existing studies on the tenant-mix-decisions focus more on inter store externality and not on the spatial logic. Moreover, normal industry practice follows rule-of-thumb instead of any scientific approach. A bid-rent model for profit maximization of individual stores is solved to identify the relationship between area allocation and rental decision with the customer density at that point. The customer density in turn depends on the accessibility and explained through visibility graph analysis and agent based simulation. The findings support the superiority of configurational characteristic over metric distances. A model for profit maximization of the entire shopping mall is proposed to explain the tenanting, rental and anchor rent subsidization decisions based on logic of spatial configuration. Space planning, in this way, can be considered as a tool for strategic decision making instead of an accommodator of functions.
Author: John R. White
Publisher: John Wiley & Sons
ISBN: 9780471040026
Category : Business & Economics
Languages : en
Pages : 538
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Book Description
Shopping centers and other forms of retail properties continue tobe among the soundest real estate investments in North America. Butretail property is a highly specialized field of real estatedevelopment with a unique and complex set of legal, financial,development, management, and marketing variables about whichinvestors and developers must possess a sound working knowledge.Now this book arms with you with that knowledge, and muchmore. The most comprehensive, authoritative, up-to-date resource of itskind, Shopping Centers and Other Retail Properties covers everyvital aspect of negotiating, buying, selling, developing, managing,and marketing shopping centers and other retail properties. EditorsJohn R. White and Kevin D. Gray, of the leading real estateconsulting firm Landauer Associates, and an all-star team ofexperts in the field of shopping center and retail propertydevelopment, share everything they know about: * All important legal issues * Investment and feasibility analysis * Valuation requirements and performance measures * Planning, designing, and renovating retail properties * Developing and investing in local and community shopping centers,highway retail centers, and regionals and super regionals * Operating and managing retail centers * Mortgage financing and financing through public and privateequity issues * Space marketing and lease terms * Macro and micro market analysis * And much more Shopping Centers and Other Retail Properties is an indispensableworking resource for both new and experienced retail propertyinvestors and developers as well as those who work with them,including attorneys, accountants, analysts, appraisers, planners,managers, brokers, and consultants. "Timely insights into an industry undergoing tremendous change."-- For both newcomers and seasoned professionals in retail propertyinvestment, this book provides a wealth of vital information onevery aspect of developing and managing shopping centers and retailproperties. Written by an all-star team of specialists in thefield, Shopping Centers and Other Retail Properties: * Provides expert guidance on financing, developing, operating, andmanaging shopping centers and other retail properties * Covers analysis of retail market demand, investment andfeasibility analysis, appraisal, mortgage financing, financing byequity, new planning formats, and much more * Serves as an indispensable working resource for investors,developers, attorneys, accountants, analysts, appraisers, planners,managers, brokers, and consultants "An authoritative work that will be immensely useful to anyoneinterested in retail real estate." -- "Retail developments have become the key investments now targetedin real estate. No two people have commanded more respect forexpertise than this book's editors. There are many, many booksattempting to guide readers in this field. In my experienced view,none compares to the excellence and usefulness of this text." --
Author: Marcus Gerbich
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper concentrates on the economic importance of the retail tenant mixture within shopping centers, and provides empirical evidence of the influence of tenant type on base rentals. The sample examined comprises 293 New Zealand shopping center leases. The results indicate that for some generic types of retail tenant (but not all), the type is an important determinant of shopping center base rents. It is also found that base rents decrease in size and increase with center turnover. Occupancy costs are tentatively found to be a negative determinant of base rents. These results are generally supportive of the recent shopping center space allocation theories of Brueckner (1993) and Eppli and Shilling (1993). The article also has several implications for the analysis of evidence in the rent review process.
Author: William G. Hardin III
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This investigation expands the limited empirical research on retail rental rates by investigating the determinants of neighborhood shopping center rents. Evidence supports primary trade area and property specific characteristics as the primary determinants of neighborhood center vacancy and rental rates. A positive aggregation effect created by higher order shopping opportunities is also found. Community centers and malls generate positive marginal effects on neighborhood center rental rates. However, the marginal effects diminish greatly after two-tenths mile for community centers and one-half mile for malls. Micro-market factors are important determinants of rental rates and by implication property performance.
Author: Tom Kauko
Publisher: John Wiley & Sons
ISBN: 9781444301038
Category : Business & Economics
Languages : en
Pages : 360
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Book Description
This book takes a cross-disciplinary and cross-cultural look atmass appraisal expertise for property valuation in different marketconditions, and offers some cutting- edge approaches. The editors establish an international platform and present thescientific debate as well as practical feasibility considerations.Heretic and orthodox valuation methods are assessed based onspecific criteria, partly technical and partly institutional.Methodological evaluation is approached using two types ofcriteria: operational concerns about how to determine propertyvalue differentials between spatial and functional units of realestate in a valid and reliable way (technical criteria); and thekind of market circumstances being operated in (institutionalcriteria). While technical criteria are relatively well-researched,there is little theoretically informed work on the connectionbetween country context and selection of property appraisalmethods. The book starts with an examination of current mass propertyappraisal practices, presenting case studies from widely differingmarkets - from the American and Dutch, where regression-basedmethods have been used successfully for some time; to the EasternEuropean and other emerging economies, where limitations have to becompensated by focusing on the modelling assumptions. The second part of the book looks at sophisticated modellingapproaches, some of which represent combinations of elements fromtwo or more techniques. Whatever the exact modelling approach, therequirements are always high for the quality of the data andsuitability of the method. In the final section, methods areevaluated and compared according to technical criteria and againstinstitutional contexts.With its exceptionally wide coverage ofvaluation issues, Mass Appraisal Methods: an internationalperspective for property valuers addresses property valuationproblems common to different countries and approaches applicable inboth developed and emerging economies.
Author: James Ross McKeever
Publisher:
ISBN:
Category : Retail trade
Languages : en
Pages : 4
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Book Description
Author: Richard Soon Teck Tay
Publisher:
ISBN: 9781877176012
Category : Rent
Languages : en
Pages : 11
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Book Description
