The commercial real estate firm Jones Lang LaSalle correctly predicted that the Baltimore Ravens would win the Super Bowl last night by using a formula based on the office vacancy rates of the competing teams’ home cities. The hypothesis holds that the city with the higher vacancy rate will produce the winning team.
Heading into last night’s game in New Orleans, JLL called it for the Baltimore Ravens over the San Francisco 49ers. Maryland’s Charm City has a current office vacancy rate of 15.5 percent compared to the City by the Bay’s 11.8 percent figure, according to the firm’s research.
“We’ve gone back to 2000 and looked at several different factors, including absorption rates, and the only one with a high correlation with the winning team was high vacancy rates on the office side,” said John Sikaitis, senior vice president and director of office research at JLL.
“I know commercial real estate and football,”Roger Staubach, executive chairman of the Americas at JLL and former Dallas Cowboys quarterback named the most valuable player of Super Bowl VI, said in a prepared statement last week. “While I can tell you that our hypothesis is right more than it’s wrong, I really like the chances of the Forty-Niners.” Read More