The Integration of Retail Space Markets

UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
Gustav D. Jud, Retired (Creator)
Daniel T. Winkler, Professor (Creator)
Institution
The University of North Carolina at Greensboro (UNCG )
Web Site: http://library.uncg.edu/

Abstract: This study estimates optimized portfolios on an efficient frontier of real estate investment in the retail sector of fifty-eight metropolitan markets (MSAs), using quarterly sample data covering 1987- 2000. The efficient opportunity sets and associated percentage allocations are determined for the entire sample of fifty-eight MSAs, as well as for subsets for each region of the country. Findings indicate that some regions offer much higher performance in a risk / return occupancy context than others. Also, the occupancy risk / return performance improves substantially when allocations are not limited to particular regions, suggesting that the retail space markets are relatively segmented.

Additional Information

Publication
Journal of Real Estate Portfolio Management, vol. 8, no. 1, 2002, pp. 79-92.
Language: English
Date: 2002
Keywords
Real estate, Retail space, Metropolitan areas, Risk/return occupancy