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| An Analysis of the Determinants of
Industrial Property Valuations Author: Frank A. Fehribach, Ronald C. Rutherford, and Mark E. Eakin Start Page: 365 Abstract: Recent research
investigated the relationship between physical factors and the asking price of industrial
buildings. We extend prior research by including physical, locational, financial, and
economic variables to determine the factors that influence the sales price. This research
provides an initial valuation framework for appraisers and is a first step toward the
development of an industrial property index. Eleven variables - building size, office
space, dock doors, ceiling height, age, distance to the Dallas/Fort Worth Airport, county
of sale, industrial cap rate, prime rate, tenant type, and date of sale - are found to
explain the sales price of industrial property. |
