Big‐Box Stores and Urban Land Prices: Friend or Foe? |
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Authors: | Barrett A Slade |
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Institution: | Department of Finance, Marriott School, Brigham Young University, Provo, UT |
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Abstract: | This study examined the effect of a new Walmart store on nearby U.S. urban land prices and found that, within one quarter mile of a new Walmart store locale, land prices increased by almost 39% over the four‐year development time period. Supercenters and commercial land sales were instrumental in driving the positive price effects. Robustness tests found a positive land price effect with other big‐box stores, suggesting that the land price effect was not limited to Walmart stores, but in fact, was a big‐box store effect. |
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