Economic Fundamentals and the Performance of Warehouse Property in Large U.S. Metropolitan Areas

The economic fundamentals of large metropolitan areas appear to influence the performance of warehouse properties located in these areas and may offer useful criteria for establishing real estate diversification categories. Economic fundamentals (centrality, diversity and resilience), as well as gro...

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Bibliographic Details
Published in:The journal of real estate portfolio management 1996-01, Vol.2 (2), p.159-168
Main Author: Malizia, Emil E.
Format: Article
Language:English
Subjects:
Economic indices
Employment
Financial portfolios
Geodetic position
Geometric mean
Metropolitan areas
Portfolio diversification
Real estate economics
Statistical significance
Warehouses
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Summary:The economic fundamentals of large metropolitan areas appear to influence the performance of warehouse properties located in these areas and may offer useful criteria for establishing real estate diversification categories. Economic fundamentals (centrality, diversity and resilience), as well as growth, stability, specialization, and other economic factors are used to establish diversification categories. Metropolitan areas are grouped by these categories, and warehouse property returns for these categories are compared. The differences in returns between categories for most economic factors are not statistically significant. The differences are statistically significant for stability and when centrality, diversity and resilience are used together.
ISSN:1083-5547
2691-1205
DOI:10.1080/10835547.1996.12089530