The Changing Real Estate Environment

April 1997, Vol 22, No 1 Abstract: This article explores the rapidly changing real estate environment and its implications for the future. Three major themes are considered: change in the way tenants utilize space, different investor perspectives regarding real estate investment and the rapidly changing playing field for real estate enterprises. The author suggests that technological… Read more

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Team Performance, Attendance and Risk for Major League Baseball Stadiums: 1970-1994

April 1997, Vol 22, No 1 Abstract: Paid attendance is a major determinant of major league baseball (MLB) stadium revenues. It affects gate receipts, concession income and parking receipts. Between 1970 and 1994, average attendance at MLB games, when expressed as a percentage of stadium capacity, varied with each team’s won-lost record. The authors present data… Read more

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Fore Thought

April 1997, Vol 22, No 1

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Some Perspectives on Sports Facilities as Tools for Economic Development

April 1997, Vol 22, No 1 Abstract: Sports facilities have become urban icons. As cities have embraced these buildings and the teams that operate within them, they have generally ignored several basic economic and financial issues germane to establishing sound public policy. Given their tremendous cost and the increasing demand for limited resources, it becomes imperative… Read more

Why Invest in Real Estate: An Asset Allocation Perspective

April 1997, Vol 22, No 1 Abstract: This article uses the NCREIF data to explore the implications of historic patterns of real estate and stock and bond returns regarding optimal real estate allocations in mixed-asset portfolios for alternative holding periods. Its major finding is that medium-term investors with at least moderate risk concerns and long-term investors… Read more

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The Myth and Reality of the Economic Development from Sports

April 1997, Vol 22, No 1 Abstract: Hardly a week seems to pass without a community announcing plans for a substantial investment in a stadium or arena to attract or retain a professional sports team. Yet, with teams leaving their fans to get publicly built facilities, it seems fair to ask if the public sector should invest tax dollars in these facilities? Are publicly financed facilities bribes extracted by the professional sports leagues or... Read More

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