Estimating the Effect of Sports Facilities on Local Area Commercial Rents: Evidence From Brooklyn’s Barclays Center

Geoffrey Propheter

Journal of Sports Economics, 2019, vol. 20, issue 1, 91-114

Abstract: The effect of Brooklyn’s Barclays Center on commercial land rents is estimated on a pooled cross-section of parcels within 1 mile of the arena from 2006 through 2015. The effect of the arena is isolated using a triple difference-in-difference approach. From the preferred model, net operating income per square foot is estimated to fall by an average of 3.7% for each 1,000 feet away a commercial parcel is removed from the arena. The average rent effect within 1 mile of the arena is further estimated to be US$2.71 per square foot. The implications of the findings are discussed.

Keywords: arena; commercial rents; spatial; economic impact (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:jospec:v:20:y:2019:i:1:p:91-114

DOI: 10.1177/1527002517723048

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