IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-00609149.html
   My bibliography  Save this paper

Is Sustainability Attractive for Corporate Real Estate Decisions ?

Author

Listed:
  • Ingrid Nappi-Choulet

    (ESSEC Business School)

  • Aurélien Décamps

    (ESSEC Business School)

Abstract

This paper provides an analysis of the impact of sustainable principles on corporate property decisions and attractiveness for business districts in the French context. It is based on a behavioural survey conducted across a large sample of corporate property managers and a MCA approach which highlights key factors about the influence of sustainable principles among traditional determinants of territorial attractiveness. This approach allows us to draw up a typology of actors regarding the diffusion of sustainability issues. It emphasizes a general improvement of sustainability on location choice especially for listed companies, owners of their head office and companies located into the main business districts of the Paris metropolitan area.

Suggested Citation

  • Ingrid Nappi-Choulet & Aurélien Décamps, 2011. "Is Sustainability Attractive for Corporate Real Estate Decisions ?," Post-Print hal-00609149, HAL.
  • Handle: RePEc:hal:journl:hal-00609149
    Note: View the original document on HAL open archive server: https://essec.hal.science/hal-00609149
    as

    Download full text from publisher

    File URL: https://essec.hal.science/hal-00609149/document
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Guillaume Pouyanne, 2006. "Land Use Diversity and Daily Mobility: the Case of Bordeaux," SCIENZE REGIONALI, FrancoAngeli Editore, vol. 2006(3).
    2. Ingrid Nappi‐Choulet Pr. & Tristan‐Pierre Maury, 2009. "A Spatiotemporal Autoregressive Price Index for the Paris Office Property Market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 37(2), pages 305-340, June.
    3. Alex Anas & Richard Arnott & Kenneth A. Small, 1998. "Urban Spatial Structure," Journal of Economic Literature, American Economic Association, vol. 36(3), pages 1426-1464, September.
    4. Michael Storper & Anthony J. Venables, 2004. "Buzz: face-to-face contact and the urban economy," Journal of Economic Geography, Oxford University Press, vol. 4(4), pages 351-370, August.
    5. Duranton, Gilles & Puga, Diego, 2005. "From sectoral to functional urban specialisation," Journal of Urban Economics, Elsevier, vol. 57(2), pages 343-370, March.
    6. Daniel P. McMillen, 2001. "Polycentric urban structure: the case of Milwaukee," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 25(Q II), pages 15-27.
    7. Guillaume Pouyanne, 2006. "Land use mix and daily mobility. The case of Bordeaux. (Science Regionali)," Post-Print hal-00153900, HAL.
    8. Piet Eichholtz & Nils Kok & John M. Quigley, 2010. "Doing Well by Doing Good? Green Office Buildings," American Economic Review, American Economic Association, vol. 100(5), pages 2492-2509, December.
    9. Brueckner, Jan K. & Thisse, Jacques-Francois & Zenou, Yves, 1999. "Why is central Paris rich and downtown Detroit poor?: An amenity-based theory," European Economic Review, Elsevier, vol. 43(1), pages 91-107, January.
    10. Giuliano, Genevieve & Small, Kenneth A., 1991. "Subcenters in the Los Angeles Region," University of California Transportation Center, Working Papers qt6ts0t95w, University of California Transportation Center.
    11. Louise Ellison & Sarah Sayce & Judy Smith, 2007. "Socially Responsible Property Investment: Quantifying the Relationship between Sustainability and Investment Property Worth," Journal of Property Research, Taylor & Francis Journals, vol. 24(3), pages 191-219, September.
    12. Glaeser, Edward L & Hedi D. Kallal & Jose A. Scheinkman & Andrei Shleifer, 1992. "Growth in Cities," Journal of Political Economy, University of Chicago Press, vol. 100(6), pages 1126-1152, December.
      • Edward L. Glaeser & Hedi D. Kallal & Jose A. Scheinkman & Andrei Shleifer, 1991. "Growth in Cities," NBER Working Papers 3787, National Bureau of Economic Research, Inc.
      • Glaeser, Edward Ludwig & Kallal, Hedi D. & Scheinkman, Jose A. & Shleifer, Andrei, 1992. "Growth in Cities," Scholarly Articles 3451309, Harvard University Department of Economics.
    13. David Levinson & Ajay Kumar, 1994. "The Rational Locator: Why Travel Times Have Remained Stable," Working Papers 199402, University of Minnesota: Nexus Research Group.
    14. Ingrid Nappi-Choulet, 2006. "The Role and Behaviour of Commercial Property Investors and Developers in French Urban Regeneration: The Experience of the Paris Region," Urban Studies, Urban Studies Journal Limited, vol. 43(9), pages 1511-1535, August.
    15. Brian Edwards, 2006. "Benefits of green offices in the UK: analysis from examples built in the 1990s," Sustainable Development, John Wiley & Sons, Ltd., vol. 14(3), pages 190-204.
    16. D. Rachel Lombardi & Libby Porter & Austin Barber & Chris D.F. Rogers, 2011. "Conceptualising Sustainability in UK Urban Regeneration: a Discursive Formation," Urban Studies, Urban Studies Journal Limited, vol. 48(2), pages 273-296, February.
    17. Thierry Theurillat, 2011. "La ville négociée : entre financiarisation et durabilité," Géographie, économie, société, Lavoisier, vol. 13(3), pages 225-254.
    18. David Lorenz & Thomas Lützkendorf, 2008. "Sustainability in property valuation: theory and practice," Journal of Property Investment & Finance, Emerald Group Publishing Limited, vol. 26(6), pages 482-521, September.
    19. Michael Greenacre, 2008. "Correspondence analysis of raw data," Economics Working Papers 1112, Department of Economics and Business, Universitat Pompeu Fabra, revised Jul 2009.
    20. Giuliano, Genevieve & Small, Kenneth A., 1991. "Subcenters in the Los Angeles region," Regional Science and Urban Economics, Elsevier, vol. 21(2), pages 163-182, July.
    21. Franz Fuerst & Patrick McAllister, 2009. "An Investigation of the Effect of Eco-Labeling on Office Occupancy Rates," Journal of Sustainable Real Estate, Taylor & Francis Journals, vol. 1(1), pages 49-64, January.
    22. Sarah Sayce & Louise Ellison & Judy Smith, 2004. "Incorporating Sustainability in Commercial Property Appraisal. Evidence from the UK," ERES eres2004_204, European Real Estate Society (ERES).
    23. Peter Nijkamp & Gerard Pepping, 1998. "A Meta-analytical Evaluation of Sustainable City Initiatives," Urban Studies, Urban Studies Journal Limited, vol. 35(9), pages 1481-1500, August.
    24. C.M. Lizieri, 2003. "Occupier Requirements in Commercial Real Estate Markets," Urban Studies, Urban Studies Journal Limited, vol. 40(5-6), pages 1151-1169, May.
    25. Rachel Guillain & Julie Le Gallo & Celine Boiteux-Orain, 2006. "Changes in Spatial and Sectoral Patterns of Employment in Ile-de-France, 1978-97," Urban Studies, Urban Studies Journal Limited, vol. 43(11), pages 2075-2098, October.
    26. Jonathan Wiley & Justin Benefield & Ken Johnson, 2010. "Green Design and the Market for Commercial Office Space," The Journal of Real Estate Finance and Economics, Springer, vol. 41(2), pages 228-243, August.
    27. Tim Dixon & Gina Ennis‐Reynolds & Claire Roberts & Sally Sims, 2009. "Is there a demand for sustainable offices? An analysis of UK business occupier moves (2006--2008)," Journal of Property Research, Taylor & Francis Journals, vol. 26(1), pages 61-85, June.
    28. Guillaume Pouyanne, 2005. "Land Use mix and Daily Mobility - the Case of Bordeaux, France," ERSA conference papers ersa05p84, European Regional Science Association.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ingrid Nappi-Choulet & Aurélien Decamps, 2012. "The impact of energy efficiency and green performance on the value of corporate real estate portfolios," ERES eres2012_145, European Real Estate Society (ERES).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ingrid Nappi-Choulet & Aurelien Decamps, 2013. "Can Sustainability Enhance Business District Attractiveness? A Survey of Corporate Property Decisions in France," Urban Studies, Urban Studies Journal Limited, vol. 50(16), pages 3283-3304, December.
    2. Ingrid Nappi-Choulet & Aurélien Decamps, 2012. "The impact of energy efficiency and green performance on the value of corporate real estate portfolios," ERES eres2012_145, European Real Estate Society (ERES).
    3. Vicente Romero de à vila Serrano, 2019. "The Intrametropolitan Geography of Knowledge-Intensive Business Services (KIBS): A Comparative Analysis of Six European and U.S. City-Regions," Economic Development Quarterly, , vol. 33(4), pages 279-295, November.
    4. Robert Manduca, 2021. "The spatial structure of US metropolitan employment: New insights from administrative data," Environment and Planning B, , vol. 48(5), pages 1357-1372, June.
    5. Matthias Sweet, 2014. "Traffic Congestion’s Economic Impacts: Evidence from US Metropolitan Regions," Urban Studies, Urban Studies Journal Limited, vol. 51(10), pages 2088-2110, August.
    6. Timothy F. Leslie, 2010. "Identification and Differentiation of Urban Centers in Phoenix Through a Multi-Criteria Kernel-Density Approach," International Regional Science Review, , vol. 33(2), pages 205-235, April.
    7. McMillen, Daniel P. & Smith, Stefani C., 2003. "The number of subcenters in large urban areas," Journal of Urban Economics, Elsevier, vol. 53(3), pages 321-338, May.
    8. Jaume Masip Tresserra, 2012. "Identifying the Employment and Population Centers at regional and metropolitan scale: The Case of Catalonia and Barcelona," ERSA conference papers ersa12p70, European Regional Science Association.
    9. Garcia-López, Miquel-Àngel, 2010. "Population suburbanization in Barcelona, 1991-2005: Is its spatial structure changing?," Journal of Housing Economics, Elsevier, vol. 19(2), pages 119-132, June.
    10. Miquel-Àngel García-López, 2010. "The Accessibility City. When Transport Infrastructure Matters in Urban Spatial Structure," Working Papers XREAP2010-01, Xarxa de Referència en Economia Aplicada (XREAP), revised Feb 2010.
    11. Ajay Agarwal & Genevieve Giuliano & Christian Redfearn, 2012. "Strangers in our midst: the usefulness of exploring polycentricity," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 48(2), pages 433-450, April.
    12. Glaeser, Edward L. & Kahn, Matthew E. & Rappaport, Jordan, 2008. "Why do the poor live in cities The role of public transportation," Journal of Urban Economics, Elsevier, vol. 63(1), pages 1-24, January.
    13. Bumsoo Lee, 2006. "'Edge' or 'Edgeless Cities'? Urban Spatial Structure in US Metropolitan Areas, 1980 to 2000," Working Paper 8574, USC Lusk Center for Real Estate.
    14. Bumsoo Lee & Peter Gordon, 2010. "Urban Structure: It's Role in Urban Growth, Net New Business Formation and Industrial Churn," Working Paper 8515, USC Lusk Center for Real Estate.
    15. Ivan Muñiz & Miguel-Àngel García-López, 2012. "Chaos and order in the contemporary city. The impact of urban spatial structure on population density and commuting distance in Barcelona, 1986-2001," Working Papers wpdea1207, Department of Applied Economics at Universitat Autonoma of Barcelona.
    16. Xuejun Liu & Qisheng Pan & Lester King & Zhonghua Jin, 2019. "Analysing the changes of employment subcentres: A comparison study of Houston and Dallas," Urban Studies, Urban Studies Journal Limited, vol. 56(12), pages 2532-2548, September.
    17. Laurent Gobillon & Harris Selod & Yves Zenou, 2002. "Spatial Mismatch : From the Hypothesis of the Theories," Working Papers 2002-57, Center for Research in Economics and Statistics.
    18. Amaya Vega & Aisling Reynolds-Feighan, 2008. "Employment Sub-centres and Travel-to-Work Mode Choice in the Dublin Region," Urban Studies, Urban Studies Journal Limited, vol. 45(9), pages 1747-1768, August.
    19. Jaume Masip Tresserra, 2012. "Does Employment Density death? Towards a new integrated methodology to identify and characterize Sub-Centres," ERSA conference papers ersa12p71, European Regional Science Association.
    20. Daniela A. Lessa & Carlos Lobo, 2021. "Mobility and Urban Centralities: An Analysis Based on the Motorized Flows Attraction in Belo Horizonte/State of Minas Gerais/Brazil," Sustainability, MDPI, vol. 13(18), pages 1-19, September.

    More about this item

    Keywords

    Sustainable City; Corporate Real Estate Management; Territorial Attractiveness; Office Business Districts;
    All these keywords.

    JEL classification:

    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R33 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-00609149. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.