Kuiper, Lesley (2020) Warehouses on the rise: a study on ceiling height and investment value. Master thesis.
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Abstract
Real estate characteristics required by logistics firms have changed in recent years. One of these changes is the demand for buildings with higher ceilings. Existing research suggests conflicting empirical views on how the investment value of logistics buildings is affected by ceiling height. This study on logistics real estate examines the possible relationship between ceiling height and investment value. To this end, linear regression analysis is used to analyze transaction prices per square meter and capitalization rates, both used as measures of investment value. Based on 2000-2019 data for the Netherlands, relatively higher investment value is, on average, found for logistics real estate with a ceiling height exceeding 10 meters compared to logistics properties with a ceiling height lower than 10 meters. However, the price premium declined for ceiling heights above 12 meters. This study is the first to document that there is a positive, non-linear relationship between ceiling height and investment value.
| Item Type: | Thesis (Master) |
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| Degree programme: | Real Estate Studies |
| Supervisor: | Daams, M.N. |
| Date Deposited: | 28 Oct 2020 09:03 |
| Last Modified: | 28 Oct 2020 09:03 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/3389 |
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