Sustainability in Commercial Real Estate Markets (eBook)

Dr. Alexander Reichardt wrote his dissertation at the Real Estate Management Institute (REMI) of the EBS European Business School.

Preface of the Editors 6
Preface of the Author 8
Table of Contents 10
List of Figures 12
List of Tables 13
List of Abbreviations 14
1 Introduction 15
1.1 Motivation and Problem Definition 15
1.2 Outline of Dissertation 21
2 Sustainable Building Certification and the Rent Premium: A Panel Data Approach 23
2 Sustainable Building Certification and the Rent Premium: A Panel Data Approach 24
2.1 Introduction 24
2.2 Background and Research Problem 25
2.2.1 Sustainable Building Certification 26
2.2.2 Advantages Ascribed to Sustainable Office Buildings 27
2.2.3 Market Dynamics of Sustainable Buildings 30
2.2.4 Existing Studies 31
2.3 Data and Methodology 33
2.3.1 Data 33
2.3.2 Methodology 36
2.4 Results 41
2.5 Conclusion 48
3 Operating Expenses and the Rent Premium of Sustainable Buildings 50
3 Operating Expenses and the Rent Premium of Sustainable Buildings 51
3.1 Introduction 51
3.2 Fundamentals 53
3.2.1 Operating Expenses of Sustainable Buildings 53
3.2.2 Lease Structures 56
3.2.3 Rent Premium of Sustainable Buildings 58
3.3 Data and Methodology 59
3.3.1 Data 59
3.3.2 Methodology 62
3.4 Results 67
3.5 Conclusion 75
4 Sustainability and the Leasing Decision of Office Occupiers in the U.S. 77
4 Sustainability and the Leasing Decision of Office Occupiers in the U.S. 78
4.1 Introduction 78
4.2 Motivations for Leasing Sustainable Buildings 80
4.3 Data and Methodology 84
4.3.1 Data 84
4.3.2 Methodology 89
4.4 Estimation Results 93
4.5 Conclusion 103
5 Summary, Practical Implications, and Further Research 105
Bibliography 111