University of Groningen
Agglomeration, Diversification and Redevelopment of Retail
Zhang, Song
DOI:
10.33612/diss.172550652
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Publication date: 2021
Link to publication in University of Groningen/UMCG research database
Citation for published version (APA):
Zhang, S. (2021). Agglomeration, Diversification and Redevelopment of Retail. https://doi.org/10.33612/diss.172550652
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Agglomeration, Diversification and
Redevelopment of Retail
Song Zhang
1. The retail sector has a tendency to cluster. However, different retail segments have different preferences over clustering patterns.
2. For most retail segments, the location patterns of newly-opened stores are more dispersed than existing stores.
3. There is a positive relationship between tenant mix and retail rents. Shopping districts with greater tenant mix show higher retail rents relative to districts with lower tenant mix. 4. To increase the tenant mix of a shopping district may be an effective way to improve the
attractiveness of the shopping district and thus to elevate consumers, retail tenants and investors’ benefits.
5. There exist substantial variations in commercial properties depreciation rates across market segments -office, retail and industrial- and countries.
6. Depreciation rates of commercial properties are correlated with regional economic drivers including real GDP, unemployment rate, and household disposable income.
7. Shopping center redevelopment has external effects on surrounding neighborhoods. Local neighborhoods become more attractive after the redevelopment of shopping centers.
8. Shopping center redevelopment can be used as a tool to combat neighborhood deprivation as the impact of redevelopment is positively associated with residential property prices.
