Determinants of Industrial Property Value

REAL ESTATE ECONOMICS, Vol. 24 No. 2

Posted: 4 May 1998

See all articles by Larry J. Lockwood

Larry J. Lockwood

Texas Christian University

Ronald C. Rutherford

University of Texas at San Antonio - Department of Finance

Abstract

This paper examines the determinants of industrial property value. We use the factor-analytic linear structural relations (LISREL) model to confront measurement problems associated with related work. A simultaneous test of the effects on property value of factors summarizing physical property, national market, local market, interest rate and location variables is performed. Findings indicate that the value of industrial buildings during 1987-1991 in the Dallas/Fort Worth area is primarily related to local market effects and to physical characteristics and location of the property.

JEL Classification: R30

Suggested Citation

Lockwood, Larry J. and Rutherford, Ronald C., Determinants of Industrial Property Value. REAL ESTATE ECONOMICS, Vol. 24 No. 2, Available at SSRN: https://ssrn.com/abstract=9113

Larry J. Lockwood

Texas Christian University ( email )

Fort Worth, TX 76129
United States
817-921-7420 (Phone)
817-921-7227 (Fax)

Ronald C. Rutherford (Contact Author)

University of Texas at San Antonio - Department of Finance ( email )

San Antonio, TX 78249
United States

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