Spatial Versus Non-Spatial Determinants of Shopping Center Rents: Modeling Location and Neighborhood-Related Factors

Francois Des Rosiers (), Marius Theriault () and Laurent Menetrier
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Francois Des Rosiers: Urban and Real Estate Management, Business Administration, Laval University, Pav. Palasis-Prince, Ste-Foy, Quebec, Canada G1K 7P4
Marius Theriault: Center for Research in Regional Planning and Development, Laval University
Laurent Menetrier: Laval University

Journal of Real Estate Research, 2005, vol. 27, issue 3, pages 293-320

Abstract: 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 ?nancial 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 ?ndings con?rm that the EPI act as a signi?cant determinant of shopping center rents, they also bring out the complexity of the relationships between endogenous and exogenous rent determinants.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2005
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