IS THERE A LINK BETWEEN SPATIAL THEORIES AND RETAIL PROPERTY INVESTMENTS WITHIN THE URBAN AREA? THE SITUATION OF GERMAN DISCOUNTERS

Matthias Segerer

ERES from European Real Estate Society (ERES)

Abstract: Retail property is generally associated with Shopping Centres or Real Estates in the CBD, which are much more prestigious than big boxes in the suburbs. But from a quantitative point of view, the impact of Retail Properties like supermarkets, discounters or hypermar-kets has been increasing for the last 30 years. Spatial based theories on retail locations as stated by Agergaard and Lange, which explain the retailersí siteselection assuming a rising income and increasing mobility on part of the consumers in addition to a permanent en-hancement of operational forms, predicted a relocation of retail properties to suburban ar-eas. However, these theories disregarded the characteristics of real estate markets. The following article shows, exemplified by the German discounter-market, how characteris-tics and protagonists of real estates submarkets influence the retailersí siteselection. There-fore, economic elements of real estate appraisal and spatial analysis are combined in a theo-retical approach in order to account for retailersí future siteselection within the urban area based on economic and spatial facts.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2010-01-01
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