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Tytuł artykułu

Options for quantitative assessment of types of commercial real estate leases

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Treść / Zawartość
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Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
Facing increasing business volumes and internationalisation, office lease issue is becoming increasingly relevant to business enterprises. They become an integral part of the business which determines the outcome of commercial activities. Current assessment methodologies for types of office leases are flawed because they lack comprehensiveness and they are not linked to the objective of a lease, that is improvement of business deliverables. The methods for quantitative assessment of lease types are flawed. The objective of this article is developing a hierarchical system of indicators in connection with commercial real estate (office) leases adapted for quantitative assessment using multi-criteria methods. As a result of the research, it has been obtained that such system contains three categories: economic, premises and environmental. 12 indicators fall into the first one, 24 – into the second and 16 – into the third one.
Rocznik
Strony
55--61
Opis fizyczny
Bibliogr. 24 poz., rys., tab.
Twórcy
  • Vilnius Gediminas Technical University Faculty of Transport Engineering, Lithuania
Bibliografia
  • Appel-Meulenbroek, R., Groenen, P., & Janssen, I. (2011). An end-user’s perspective on activity-based office concepts. Journal of Corporate Real Estate, 13(2), 122-135.
  • Choi, J.-H., Loftness, V., & Aziz, A. (2012). Post-occupancy evaluation of 20 office buildings as basis for future IEQ standards and guidelines. Energy and Buildings, 46, 167-175.
  • Cupal, M. (2014). The Comparative Approach Theory for Real Estate Valuation. Social and Behavioral Sciences, 109, 19-23.
  • Eichholtz, P., Kok, N., & Quigley, J. (2009). Doing well by doing good? An analysis of financial performance of green office buildings in the USA, RICS Report. London, Great Britain: Royal Institution of Chartered Surveyors. Retrieved from http://www.srmnetwork.com/pdf/whitepapers/Financial_Performance_of_Green_Office_Buildings_RICS_Mar09.pdf
  • Eichholtz, P., Kok, N., & Quigley, J.M. (2010). Doing well by doing good? Green office buildings. American Economic Review, 100(5), 2492-2509.
  • Fan, G., Huszár, Z., & Zhang, W. (2013). The Relationships between Real Estate Price and Expected Financial Asset Risk and Return: Theory and Empirical Evidence. Real Estate Finance and Economics, 6, 568-595.
  • Fawcett, W., & Chadwick, A. (2007). Space-time management and office floorspace demand: Applied experience and mathematical simulations. Journal of Corporate Real Estate, 9(1), 5-24.
  • Fawcett, W., & Rigby, D. (2009). The interaction of activity, space and cost variables in office workstation sharing. Journal of Corporate Real Estate, 11(1), 38-51.
  • French, N., & Wiseman, G. (2003). The price of space: the convergence of value in use and value in exchange. Journal of Property Investment & Finance, 21(1), 23-30.
  • Fuerst, F., & Grandy, A.-M. (2012). Rational expectations?: Developer behaviour and development cycles in the central London office market. Journal of Property Investment & Finance 30(2), 159-174.
  • Fuerst, F., & McAllister, P. (2011). Eco-labeling in commercial office markets: Do LEED and Energy Star offices obtain multiple premiums? Ecological Economics, 70(6), 1220-1230.
  • Ginevičius, R. (2007). Hierarchical Structuring of Processes and Phenomena. Busineess: Theory and Practice, 8(1), 14-18.
  • Ginevičius, R. (2009). Some Problems of Quantitative Evaluation of the State of Social-Economic Systems. Busineess: Theory and Practice, 10(2), 69-83.
  • Ginevičius, R., & Podvezko, V. (2005). Generation of a Set of Evaluation Criteria. Busineess: Theory and Practice, 6(4), 199-207.
  • Investa Properties Limited. (2006). Green lease guide – for commercial office tenants. Sydney, Australia: Investa Property Group. Retrieved from http://www.sustainability.vic.gov.au/resources/documents/green_lease.pdf
  • Levy, D., & Peterson, G. (2013). The effect of sustainability on commercial occupiers’ building choice. Journal of Property Investment & Finance, 31(3), 267-284.
  • Martinac, I., Azar, M., Choy, M., Miller, M., & Nilsson, A. (2011). Energy saving in commercial rental properties – Innovative stakeholder relationships and contracting models – CERBOF Project #20, Final report. Centre for Energy and Resource Efficiency in the Built Environment (CERBOF). Retrieved from http://www.cerbof.se/documents/Projekt/Rapporter/Slutrapport_CERBOF_20.pdf
  • Nase, I., Berry, J., & Adair, A. (2013). Real estate value and quality design in commercial office properties. Journal of European Real Estate Research, 6(1), 48-62.
  • Pagourtzi, E., Assimakopoulos, V., Hatzichristos, T., & French, N. (2003). Real estate appraisal: a review of valuation methods. Journal of Property Investment & Finance, 21(4), 383-401.
  • Saari, A., Tissari, T., Valkama, E., & Seppänen, O. (2006). The effect of a redesigned floor plan, occupant density and the quality of indoor climate on the cost of space, productivity and sick leave in an office building – A case study. Building and Environment, 41(12), 1961-1972.
  • Sacramento, C.A., Fay, D., & West, M.A. (2013). Workplace duties or opportunities? Challenge stressors, regulatory focus, and creativity. Organizational Behavior and Human Decision Processes, 121(2), 141-157.
  • Warren, C. (2003). New working practice and office space density: a comparison of Australia and the UK. Facilities, 21(13/14), 306-314.
  • Wetering Van de, J., & Wyatt, P. (2011). Office sustainability: occupier perceptions and implementation of policy. Journal of European Real Estate Research, 4(1), 29-47.
  • Zhang, X. (2015). Green real estate development in China: State of art and prospect agenda – A review. Renewable and Sustainable Energy Reviews, 47, 1-13.
Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.baztech-fd166f1c-d46f-4be9-8e4b-e4bae795af54
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