Office Market Analysis: Improving Best-Practice Techniques

This article focuses on ways to improve market analysis for proposed office projects, taking time and data limitations into account. The discussion moves sequentially through the three primary components of systematic, logical market analysis: the market overview, the market study and the marketabil...

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Bibliographic Details
Published in:The Journal of real estate research 1998-01, Vol.16 (1), p.15-34
Main Authors: Howarth, Robin A., Malizia, Emil E.
Format: Article
Language:English
Subjects:
Analysis
Analytical forecasting
Automobile parking
Best practice
Employment
Employment forecasting
Institutional investments
Investigations
Market analysis
Metropolitan areas
Office buildings
Office space
Office supplies
Offices
Product design
Property
Proposals
Real estate
Real estate markets
Sensitivity analysis
Situs
Studies
Supply
Tenants
Time series forecasting
Urban development
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Description
Summary:This article focuses on ways to improve market analysis for proposed office projects, taking time and data limitations into account. The discussion moves sequentially through the three primary components of systematic, logical market analysis: the market overview, the market study and the marketability study. Key suggestions cover: (1) discussing megatrends affecting office user preferences and product design; (2) estimating long-term attractiveness of the office location and site; (3) forecasting balance or imbalance between future demand and supply of office space at the metropolitan level; (4) segmenting and differentiating supply and demand at the submarket level for the purpose of assigning market capture rates; and (5) conducting sensitivity analysis of the key variables affecting project net operating income.
ISSN:0896-5803
2691-1175
DOI:10.1080/10835547.1998.12090936