Neighborhood Center Image and Rents

Posted: 17 May 2002

See all articles by William G. Hardin III

William G. Hardin III

Mississippi State University - Department of Finance and Economics

Marvin Wolverton

Washington State University

Abstract

The impact of neighborhood center image on rental rates is empirically modeled and tested. Neighborhood center anchor does not substantially affect in-line, non-anchor 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 sub-type level. More modeling of retail rents and sales activity is warranted.

Keywords: retail, rent agglomeration, image and externality

Suggested Citation

Hardin, William and Wolverton, Marvin, Neighborhood Center Image and Rents. Available at SSRN: https://ssrn.com/abstract=303826

William Hardin (Contact Author)

Mississippi State University - Department of Finance and Economics ( email )

P.O. Box 9580
Mississippi State, MS 39762
United States
601-325-7478 (Phone)
601-325-1977 (Fax)

Marvin Wolverton

Washington State University ( email )

College of Business and Economics P.O. Box 644746
Pullman, WA 99164-4741
509-335-7658 (Phone)
509-335-3857 (Fax)

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