Income, value, and returns in socially responsible office properties

Gary Pivo, Jeffrey D. Fisher

Research output: Contribution to journalArticle

83 Scopus citations

Abstract

"Responsible property investing" seeks to address social and environmental issues while achieving acceptable financial returns. It includes strategies such as investing in properties that are ENERGY STAR labeled, close to transit, and located in redevelopment areas. This study examines the financial performance of these types of properties. With few exceptions, over the past 10 years they had net operating incomes, market values, price appreciation, and total returns that were higher or the same as conventional properties, with lower cap rates. The findings reveal that responsible property investing can be practiced without diluting returns and can potentially yield higher profits for developers and investors.

Original languageEnglish (US)
Pages (from-to)243-270
Number of pages28
JournalJournal of Real Estate Research
Volume32
Issue number3
StatePublished - Dec 1 2010

ASJC Scopus subject areas

  • Economics, Econometrics and Finance (miscellaneous)

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