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| A Descriptive Analysis of the Retail
Real Estate Markets at the Metropolitan Level Author: Mark J. Eppli and Steve P. Laposa Start Page: 321 Abstract: Gross Leasable Area
(GLA) per capita is a commonly used measure to compare the retail market potential across
different retail real estate markets. This paper uses GLA per capita to assess the supply
of the retail space across 58 metropolitan areas in the United States. After a detailed
descriptive analysis of the supply of retail space, we estimate GLA per capita for each
metropolitan area using a modified version of the stock adjustment model. Initial findings
indicate that the retail construction boom of the 1980s was not a boom at all and that GLA
per capita can be predicted using a multi-factor model. |
