Author: C.F. Sirmans and Krisandra A. Guidry

Start Page: 107
End Page: 116
Volume: 8
Issue Number: 1
Year: 1993
Publication: Journal of Real Estate Research

Abstract: This paper presents the first empirical examination of the determinants of inter-center variations in shopping center rents. We use weighted least squares estimation to test the relationship between market rents for shopping centers and various independent variables. The results indicate that rent levels respond to various factors as expected: "customer drawing power," architectural design, location, and general economic conditions explain a significant proportion of the variation in rent levels.