Retail Vacancy Rates: The Influence of National and Local Economic Conditions
- 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 examines the extent to
which local retail vacancy rates are influenced by vacancy
rates in surrounding communities versus the overall
national vacancy rate in the retail sector. Consistent
with prior research, our simultaneous spatial autoregressive analyses of pooled retail market vacancy rates
suggests that there is considerable spatial correlation in
vacancy rates among neighboring metropolitan areas.
There is also evidence of substantial temporal correlation
in local vacancy rates. While spatial correlation dominates
the national vacancy rate in explaining variation
in the level of vacancy rates, changes in the national vacancy
rate explain a statistically significant portion of
the variation in the changes in local vacancy rates. The
nature and extent to which changes in national rates affect
local rates is found to differ markedly across MSAs.
Retail Vacancy Rates: The Influence of National and Local Economic Conditions
PDF (Portable Document Format)
1040 KB
Created on 2/18/2011
Views: 5216
Additional Information
- Publication
- Journal of Real Estate Portfolio Management, vol. 6,no. 3, 2000, pp. 249-258.
- Language: English
- Date: 2000
- Keywords
- Real estate markets, Retail property, Vacancy, Local conditions, Economy