Situations Vacant: A Conceptual Framework for Commercial Real Estate Vacancy

Muldoon-Smith, Kevin and Greenhalgh, Paul (2017) Situations Vacant: A Conceptual Framework for Commercial Real Estate Vacancy. In: 24th Annual Conference of the European Real Estate Society: ERES 2017, 28 June- 1 July 2017, Delft.

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Abstract

Commercial real estate vacancy is a key indicator of property market efficiency, economic performance and urban resilience. However, there has been little conceptual reflection into the abstract notion of vacancy beyond binary distinctions of natural and structural vacancy. Although useful simplifying meta-concepts, neither accounts for the internal complexity and imperfection that permeates real commercial property markets. Consequently, the objective of this article is to outline a conceptual framework that describes vacancy across the commercial real estate building life-cycle – from initial construction to final demolition and redevelopment. The originality of the research rests in its utility as the first known holistic examination of commercial real estate vacancy beyond that of an abstract economic factor, while its value is explicit in the conceptual typology which can be used by researchers interested in market imperfections and consequent interventions.

Item Type:	Conference or Workshop Item (Paper)
Subjects:	K900 Others in Architecture, Building and Planning
Department:	Faculties > Engineering and Environment > Architecture and Built Environment
Depositing User:	Becky Skoyles
Date Deposited:	27 Sep 2018 14:19
Last Modified:	11 Oct 2019 19:15
URI:	http://nrl.northumbria.ac.uk/id/eprint/35928

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