Analyzing the impact of three-dimensional visibility value on shopping center retail unit rental prices

Abstract

This research examines the effect of a three-dimensional visibility value variable on shopping experience and estimates the contribution to retail units’ rental prices for shopping centers. The visibility value in a three-dimensional scheme is measured by adding storefront area volume to existing two-dimensional calculations. This study utilized an explanatory research design and a quantitative analysis method—a STATA regression test—for 150 store units in Jakarta. All units are permanent physical stores, excluding food courts, anchor, and exhibitions. The results showed that visibility value has the positive effect of increasing the average initial rental price by 6% (IDR15,403). The findings of this research can be useful for shopping center managers when estimating rental rates for retail units and architects when considering the visibility factor when designing shopping centers.