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Local economy should be an important determinant of commercial real estate (CRE) performance. This paper empirically examines how the economic conditions of a metropolitan area drive the performance of CRE in the area. This paper shows that areas with better economic conditions provide a higher...
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This paper empirically examines the extent to which and how local economic growth and asset location affect firm growth based on a sample of US equity real estate investment trusts (REITs) from 2001 to 2016. Using the GDP growth rate by MSA and individual property data of REITs, we construct an...
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