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Determinants of Industrial Property Value
Author(s) -
Lockwood Larry J.,
Rutherford Ronald C.
Publication year - 1996
Publication title -
real estate economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.064
H-Index - 61
eISSN - 1540-6229
pISSN - 1080-8620
DOI - 10.1111/1540-6229.00690
Subject(s) - lisrel , value (mathematics) , property market , property (philosophy) , econometrics , economics , market value , work (physics) , industrial property , property value , mathematics , statistics , engineering , computer science , real estate , structural equation modeling , accounting , finance , intellectual property , mechanical engineering , philosophy , epistemology , operating system
This paper examines the determinants of industrial properly value. We use the factor‐analytic linear structural relations (LISREL) model to confront measurement problems associated with related work. A simultaneous test of the effects on property value of factors summarizing physical property, national market, local market, interest rate and location variables is performed. Findings indicate that the value of industrial buildings during 1987–1991 in the Dallas/Fort Worth area is primarily related to local market effects and to physical characteristics and location of the property.