Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2017 / Cataloged from PDF version of thesis. / Includes bibliographical references (pages 54-58). / Corporate real estate is increasingly seen as a strategic resource contributing to organizational performance rather than a mere operational asset focusing on overall business cost efficiency. There is considerable upside to be realized in making workplaces more efficient, productive and more conducive to work performance. Yet, the question whether good design correlates to increased financial outcomes has not been explored much. This thesis studies the economic impact of workplace performance by linking post-occupancy analysis to financial outcomes. The paper uses two data sets to explore if a correlation exists between good design and financial value by linking workplace performance and effective rents - Gensler's post-occupancy Workplace Performance Index (WPI SM) data, and CompStak's Manhattan rental database. The premium effect of WPI-scored leases is best observed when analyzed with respect to location characteristics (neighborhoods) and time-fixed effect (lease commencement date) reflecting a premium over non-scored leases. At the same time, there is a statistically significant indication that Below Average Work Performance, as reflected by their lower WPI Score, have lower effective rents compared to non-WPI scored leases. Workplaces with high WPI (SM) scores signify higher economic productivity compared to their lower scoring counterparts. The study is a first step towards linking workplace performance to effective rents to highlight the financial implications of developing high performing workplaces. The conclusions from the study are of value to stakeholders involved - real estate developers, landlords, tenants, architects, interior designers, and institutional investors. / by Suneeth P. John and Zoya Puri. / S.M. in Real Estate Development / S.M.inRealEstateDevelopment Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate
| Identifer | oai:union.ndltd.org:MIT/oai:dspace.mit.edu:1721.1/113474 |
| Date | January 2017 |
| Creators | John, Suneeth Paul., Puri, Zoya. |
| Contributors | Andrea Chegut., Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development., Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development |
| Publisher | Massachusetts Institute of Technology |
| Source Sets | M.I.T. Theses and Dissertation |
| Language | English |
| Detected Language | English |
| Type | Thesis |
| Format | 67 pages, application/pdf |
| Rights | MIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission., http://dspace.mit.edu/handle/1721.1/7582 |
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