An Analysis of Office Market Rents: Some Empirical Evidence

John Glascock, Shirin Jahanian and C. F. Sirmans

Real Estate Economics, 1990, vol. 18, issue 1, 105-119

Abstract: This paper provides an empirical analysis of office building rents using data for a five‐year period in a medium‐ sized city. The results indicate that rent levels respond to various factors in the expected manner: rents vary systematically across classes of buildings and locations, overall market conditions have a significant impact on rents, and contract variations are associated with rent differences. We also present the first evidence at the building level on the rent‐vacancy adjustment process. The results show a significant relationship between rent changes and vacancies.

Date: 1990
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