Decentralization of office markets and the effects on rates of return
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2002.
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| Format: | Thesis |
| Language: | eng |
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Massachusetts Institute of Technology
2006
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| Online Access: | http://hdl.handle.net/1721.1/32230 |
| _version_ | 1811090452629159936 |
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| author | Garner, Laurence Alan, 1968- |
| author2 | William C. Wheaton. |
| author_facet | William C. Wheaton. Garner, Laurence Alan, 1968- |
| author_sort | Garner, Laurence Alan, 1968- |
| collection | MIT |
| description | Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2002. |
| first_indexed | 2024-09-23T14:46:24Z |
| format | Thesis |
| id | mit-1721.1/32230 |
| institution | Massachusetts Institute of Technology |
| language | eng |
| last_indexed | 2024-09-23T14:46:24Z |
| publishDate | 2006 |
| publisher | Massachusetts Institute of Technology |
| record_format | dspace |
| spelling | mit-1721.1/322302019-04-10T13:10:20Z Decentralization of office markets and the effects on rates of return Garner, Laurence Alan, 1968- William C. Wheaton. Massachusetts Institute of Technology. Dept. of Urban Studies and Planning. Massachusetts Institute of Technology. Dept. of Urban Studies and Planning. Urban Studies and Planning. Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2002. Includes bibliographical references (leaves 77-78). Does decentralization of office markets effect investment rates of return? This is the central hypothesis behind this research paper. In order to study the influence of decentralization of office markets on investment returns, this thesis uses three different sources of data. First, Torto Wheaton Research has supplied data which measures the quantity of office space in 43 MSAs throughout the United States. The data is organized in such a way that allows for the measurement of centralization for each MSA in 1980 and in 2001. Each MSA is assigned a centralization value which measures the degree to which its office market is centralized. The two points in time for which the data is supplied allow for the measurement of two centralization values and the degree of change of centralization for the MSA over the 21-year period. The quantity of office space in square feet for each MSA is also measured at both points in time as is the amount of change in each MSA's market size. Second, values for population centralization in 1996 are created. The first section of the research regresses current office centralization values against past office centralization values, the change in office centralization over 21 years, the market size at both points in time, the change in market size over 21 years and the value for population centralization. The purpose of this first section is to better understand the influence of these other variables on office centralization. This understanding provides a foundation for the second part of the research. In the second part of the research, investment returns for office space of institutional investors are regressed against the office and population centralization values created in the first part of the research. The thesis finds that decentralization is not a significant determinant of investment rates of return for the general office market (MSA Office), however, there is a weak connection with suburban markets. The research indicates that investment returns are highest when population is decentralized and office space is centralized. by Laurence Alan Garner. S.M. 2006-03-29T18:26:09Z 2006-03-29T18:26:09Z 2002 2002 Thesis http://hdl.handle.net/1721.1/32230 51891118 eng M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. http://dspace.mit.edu/handle/1721.1/7582 78 leaves 4009228 bytes 4016004 bytes application/pdf application/pdf application/pdf Massachusetts Institute of Technology |
| spellingShingle | Urban Studies and Planning. Garner, Laurence Alan, 1968- Decentralization of office markets and the effects on rates of return |
| title | Decentralization of office markets and the effects on rates of return |
| title_full | Decentralization of office markets and the effects on rates of return |
| title_fullStr | Decentralization of office markets and the effects on rates of return |
| title_full_unstemmed | Decentralization of office markets and the effects on rates of return |
| title_short | Decentralization of office markets and the effects on rates of return |
| title_sort | decentralization of office markets and the effects on rates of return |
| topic | Urban Studies and Planning. |
| url | http://hdl.handle.net/1721.1/32230 |
| work_keys_str_mv | AT garnerlaurencealan1968 decentralizationofofficemarketsandtheeffectsonratesofreturn |