Determinants of Industrial Property Value |
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Authors: | Larry J. Lockwood Ronald C. Rutherford |
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Affiliation: | Texas Christian University, Fort Worth, TX 76129;The University of Texas-San Antonio, San Antonio, TX 78249-0633 |
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Abstract: | 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. |
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