Keywords

walmart store impact, urban land prices, big-box development

Abstract

This study examined the effect of a new Walmart store on nearby U.S. urban land prices and found that, within one quarter mile of a new Walmart store locale, land prices increased by almost 39% over the four-year development time period. Supercenters and commercial land sales were instrumental in driving the positive price effects. Robustness tests found a positive land price effect with other big-box stores, suggesting that the land price effect was not limited to Walmart stores, but in fact, was a big-box store effect.

Original Publication Citation

Slade, B., 2018, Big Box and Urban Land Prices: Friend or Foe? Real Estate Economics, Volume 46, Issue 1, pp. 7-58.