Author: Kenton L. Ownbey, Kyle Davis, and Harvey H. Sundel

Start Page: 111
End Page: 124
Volume: 9
Issue Number: 1
Year: 1994
Publication: Journal of Real Estate Research

Abstract: An understanding of the impact of location variables on the gross rents of retail centers is of paramount interest to owners of, and lenders to, these properties. Through experience and training, retail real estate appraisers, investors, lenders, leasing brokers, and sales brokers have formed professional opinions of the influence of location variables on gross rents. This article presents a method for modeling the options of over 100 of these practitioners. The modeling process can be replicated in alternative geographic settings to provide a current, region-specific assessment of the impact of location variables on the gross rents of neighborhood shopping centers.