IS THERE A LINK BETWEEN SPATIAL THEORIES AND RETAIL PROPERTY INVESTMENTS WITHIN THE URBAN AREA? THE SITUATION OF GERMAN DISCOUNTERS
||IS THERE A LINK BETWEEN SPATIAL THEORIES AND RETAIL PROPERTY INVESTMENTS WITHIN THE URBAN AREA? THE SITUATION OF GERMAN DISCOUNTERS
||17th Annual European Real Estate Society Conference in Milan, Italy
||Retail property is generally associated with Shopping Centres or Real Estates in the CBD, which are much more prestigious than big boxes in the suburbs. But from a quantitative point of view, the impact of Retail Properties like supermarkets, discounters or hypermar-kets has been increasing for the last 30 years. Spatial based theories on retail locations as stated by Agergaard and Lange, which explain the retailers’ siteselection assuming a rising income and increasing mobility on part of the consumers in addition to a permanent en-hancement of operational forms, predicted a relocation of retail properties to suburban ar-eas. However, these theories disregarded the characteristics of real estate markets. The following article shows, exemplified by the German discounter-market, how characteris-tics and protagonists of real estates submarkets influence the retailers’ siteselection. There-fore, economic elements of real estate appraisal and spatial analysis are combined in a theo-retical approach in order to account for retailers’ future siteselection within the urban area based on economic and spatial facts.
||Retail propertylocationreal estate markets
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