Open Access. Powered by Scholars. Published by Universities.®
Finance and Financial Management Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 3 of 3
Full-Text Articles in Finance and Financial Management
What Moves Retail Property Returns At The Metropolitan Level?, Mark Eppli, James D. Shilling, Kerry D. Vandell
What Moves Retail Property Returns At The Metropolitan Level?, Mark Eppli, James D. Shilling, Kerry D. Vandell
Finance Faculty Research and Publications
In this article the determinants of metropolitan-level appraisal-based retail property returns are examined by estimating a six-equation model of retail construction starts, retail sales, stock-market returns, commercial mortgage rates, inflation, and the logarithm of stock-market volatility. Residuals from these equations are then used to explain actual movements in retail real estate returns. Our empirical procedure looks at both unadjusted and unsmoothed appraisal-based retail real estate returns. The general finding is that unsmoothed appraisal-based retail real estate returns lag significantly behind market conditions. Furthermore, the results suggest that very little of the variation in metropolitan-level appraisal-based retail real estate returns can …
The Graaskamp Legacy, Mike Miles, Mark Eppli, Max Kummerow
The Graaskamp Legacy, Mike Miles, Mark Eppli, Max Kummerow
Finance Faculty Research and Publications
James A. Graaskamp's perspective on classroom education and his alternative research paradigm pioneered or greatly enhanced several real estate principles that are more relevant today than during his life. These principles are summarized and presented in 5 sections: A Different Brand of Research, The Development Feasibility, How Appraisers Value, Who's Watching the Chicken Coop, and Teaching an Ethical Vision.
Value Allocation In Regional Shopping Centers, Mark Eppli
Value Allocation In Regional Shopping Centers, Mark Eppli
Finance Faculty Research and Publications
Understanding consumer shopping patterns is essential in estimating the value of regional shopping centers. Consumer shopping behavior determines retail sales at regional shopping centers which, in turn, impacts shopping center rents and value. This article quantifies the effects of consumer shopping behavior on nonanchor tenant sales in regional shopping centers. The results of this study reveal that the effects of location, comparison shopping, and department store image are important in estimating shopping center patronage and retail sales. They also indicate that the value of a mall can be allocated to real estate and non-real estate value.