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Industrial Rent Differentials: The Case of Greater Los Angeles

Author

Listed:
  • R Sivitanidou

    (University of Southern California, Los Angeles, CA90089-0042, USA)

  • P Sivitanides

    (TCW Realty Advisors, Los Angeles, CA 90017-2543, USA)

Abstract

In this paper the authors explore an integrated view of the relationship between location and industrial real-estate rents within decentralized metropolises. It is postulated that variations across space in industrial rents reflect spatial variations not only in productivity-enhancing firm amenities, but also in utility-bearing worker amenities and local institutional constraints on the supply of industrial space or land. To test for such influences, alternative empirical models employing 1990 industrial (production space) rents in Greater Los Angeles are estimated. Although firm amenities induce the strongest price effect, worker amenities and zoning constraints do play an important role in industrial pricing.

Suggested Citation

  • R Sivitanidou & P Sivitanides, 1995. "Industrial Rent Differentials: The Case of Greater Los Angeles," Environment and Planning A, , vol. 27(7), pages 1133-1146, July.
    • Handle: RePEc:sae:envira:v:27:y:1995:i:7:p:1133-1146
    DOI: 10.1068/a271133
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    References listed on IDEAS

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    1. Allen J. Scott, 1982. "Locational Patterns and Dynamics of Industrial Activity in the Modern Metropolis," Urban Studies, Urban Studies Journal Limited, vol. 19(2), pages 111-141, May.
    2. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
    3. Wallace, Nancy E., 1988. "The market effects of zoning undeveloped land: Does zoning follow the market?," Journal of Urban Economics, Elsevier, vol. 23(3), pages 307-326, May.
    4. Lee, Kyu Sik, 1982. "A model of intraurban employment location: An application to Bogota, Colombia," Journal of Urban Economics, Elsevier, vol. 12(3), pages 263-279, November.
    5. McMillen, Daniel P. & McDonald, John F., 1991. "A simultaneous equations model of zoning and land values," Regional Science and Urban Economics, Elsevier, vol. 21(1), pages 55-72, May.
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    Cited by:

    1. Anna Alberini, 2007. "Determinants And Effects On Property Values Of Participation In Voluntary Cleanup Programs: The Case Of Colorado," Contemporary Economic Policy, Western Economic Association International, vol. 25(3), pages 415-432, July.
    2. Clark, David & Pennington-Cross, Anthony, 2016. "Determinants of industrial property rents in the Chicago metropolitan area," Regional Science and Urban Economics, Elsevier, vol. 56(C), pages 34-45.
    3. Alberini, Anna, 2006. "Determinants and Effects on Property Values of Participation in Voluntary Cleanup Programs: The Case of Colorado," Sustainability Indicators and Environmental Valuation Working Papers 12215, Fondazione Eni Enrico Mattei (FEEM).

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