{"id":3818,"date":"2023-08-04T09:35:31","date_gmt":"2023-08-04T01:35:31","guid":{"rendered":"http:\/\/www.gssinst.org\/irer\/?p=3818"},"modified":"2025-12-03T02:29:11","modified_gmt":"2025-12-02T18:29:11","slug":"tenant-portfolio-selection-for-managing-a-shopping-center","status":"publish","type":"post","link":"https:\/\/www.gssinst.org\/irer\/2023\/08\/04\/tenant-portfolio-selection-for-managing-a-shopping-center\/","title":{"rendered":"Tenant Portfolio Selection for Managing a Shopping Center"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3818\" class=\"elementor elementor-3818\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6b084dbc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6b084dbc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-47d15be8\" data-id=\"47d15be8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-73767d13 elementor-widget elementor-widget-text-editor\" data-id=\"73767d13\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\"><div class=\"article_label\">Article<\/div><p>Tenant Portfolio Selection for Managing a Shopping Center<\/p><div><p class=\"title_label_large\">Author<\/p><p class=\"title_label_large\">Start Page \/ End Page<\/p><p class=\"title_label\">Volume<\/p><p class=\"title_label\">Issue Number<\/p><p class=\"title_label\">Year<\/p><p class=\"title_label_large\">Publication<\/p><\/div><div><p><!-- Author \/ StartEndPage \/ Volume \/ IssueNumber \/ Year \/ Publication --><\/p><p class=\"title_text_large\">Takeaki Kariya, Hideyuki Takada, Yoshiro Yamamura\u00a0<\/p><p class=\"title_text_large\">143 \/ 171<\/p><p class=\"title_text\">26<\/p><p class=\"title_text\">2<\/p><p class=\"title_text\">2023<\/p><p class=\"title_text_large\">International Real Estate Review<\/p><\/div><div class=\"empty\">\u00a0<\/div><p class=\"abstract_label\">Abstract<\/p><p>In managing shopping centers, Kariya et al. (2005) formulate an analytical framework to optimize the net present value (NPV) of profit from each individual tenant with two control measures of fixed and variable rent linked to tenant sales or tenant replacement rules. Here, the framework is extended to a two-tenant case, where the sales growth rates of the new and old tenants are correlated in replacement. Hence, like the portfolio theory in finance, the combined NPV of the correlated cashflows of two tenants with the two control measures is optimized. To select a new tenant for a specific space, the sales correlation data of leaving and remaining tenants in proximity to the space can be used for optimization. Our simulation results show that it is better to select a new tenant whose predicted sales growth rate is high and has a largely negative correlation with that of the local tenants.<\/p><p>\u00a0<\/p><p><!-- PDF DownloadLink --><\/p><p class=\"download\"><a href=\"http:\/\/www.gssinst.org\/irer\/wp-content\/uploads\/2023\/08\/vol26-no2-1_Tenant-Portfolio-Selection.pdf\"><strong>View PDF -https:\/\/doi.org\/10.53383\/100360<\/strong><\/a><\/p><div>\u00a0<\/div><div>\u00a0<\/div><div><p class=\"abstract_label\">Keywords<\/p><p>Shopping center, Tenant management, Return-risk ratio, Percentage rent, Tenant replacement rule, Correlation of tenants&#8217; sales<\/p><\/div><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Article Tenant Portfolio Selection for Managing a Shopping Center Author Start Page \/ End Page Volume Issue Number Year Publication&hellip;<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"article-template.php","format":"standard","meta":[],"categories":[256,255],"tags":[],"_links":{"self":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/3818"}],"collection":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/comments?post=3818"}],"version-history":[{"count":5,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/3818\/revisions"}],"predecessor-version":[{"id":4649,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/3818\/revisions\/4649"}],"wp:attachment":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/media?parent=3818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/categories?post=3818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/tags?post=3818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}