Estimating Sales for Retail Centers: An Application of the Poisson Gravity Model

A. Ason Okoruwa, Hugh O. Nourse and Joseph V. Terza ()
Additional contact information
A. Ason Okoruwa: Department of Finance College of Business University of Northern Iowa Cedar Falls, Iowa 50614, http://www.cba.uni.edu/finance/
Hugh O. Nourse: Department of Insurance, Real Estate and Legal Studies College of Business Administration University of Georgia Athens, Georgia 30602, http://www.terry.uga.edu/realestate/
Joseph V. Terza: Department of Economics Pennsylvania State University University Park, Pennsvlvania 16802, http://econ.la.psu.edu/

Journal of Real Estate Research, 1994, vol. 9, issue 1, pages 85-98

Abstract: The projection of total retail sales for a shopping center development is of critical importance in its valuation, in the making of investment decisions by investors, and to the retail merchants who must make location decisions. In this study, we apply the Poisson Gravity Model to forecast the number of shopping trips attracted to each of the major retail centers in the Atlanta metropolitan area. In the second stage, the estimated total retail sales for all the shopping centers covered in the study, are allocated to the individual centers, based on their estimated shopping trip shares.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1994
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