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Industry location patterns in metropolitan area office markets - Central Business Districts versus suburbs

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  • Sofia Dermisi

    (Roosevelt University)

Abstract

This paper is an initial study of the location patterns among Information, Finance Insurance & Real Estate companies locating in Central Business Districts (CBD) versus suburbs, using SIC/NAICS codes at the zip code level. These patterns are initially studied through statistical analysis and then their effect on the probability of a company locating at a CBD versus the suburbs is determined through econometric modeling of real estate office market and economic parameters. In addition, the effect of all these factors on both areas’ vacancy rate is also studied. The studied cities include Atlanta, Boston, Chicago, Washington and Los Angeles with the study period being from 1998 through 2001, with quarterly data.

Suggested Citation

  • Sofia Dermisi, 2005. "Industry location patterns in metropolitan area office markets - Central Business Districts versus suburbs," Urban/Regional 0509007, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpur:0509007
    Note: Type of Document - pdf. Presented at the 2004 American Real Estate Annual meeting
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/urb/papers/0509/0509007.pdf
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    References listed on IDEAS

    as
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    5. Wayne R. Archer & Marc T. Smith, 2003. "Explaining Location Patterns of Suburban Offices," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 31(2), pages 139-164, June.
    6. John S. Hekman, 1985. "Rental Price Adjustment and Investment in the Office Market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 13(1), pages 32-47, March.
    7. Wheaton, William C & Torto, Raymond G & Evans, Peter, 1997. "The Cyclic Behavior of the Greater London Office Market," The Journal of Real Estate Finance and Economics, Springer, vol. 15(1), pages 77-92, July.
    8. Patric H. Hendershott & Colin M. Lizieri & George A. Matysiak, 1999. "The Workings of the London Office Market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 27(2), pages 365-387, June.
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    Full references (including those not matched with items on IDEAS)

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    JEL classification:

    • R - Urban, Rural, Regional, Real Estate, and Transportation Economics

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