In this paper I measure the impact of urbanisation and localisation economies on commercial rents (offices and industrial buildings) using unique micro-data on both commercial property transactions, as well as all firm (establishment) locations. I add to the literature in three important ways....

In contrast to the United States and the United Kingdom, little empirical work exists about the distributional characteristics of appraisal-based real estate returns outside these countries. The purpose of this study is to fill this gap by focusing on Germany. In line with other studies, this...