The results of this (Ph.D.) thesis contribute both to the scientific research and to real estate practice. With the concepts of “retail property type” and the “dynamic retail property market model” two theoretical constructs are introduced, which are crucial for a holistic understanding of the subject "retail property". The empirical models examine the choice of macrolocation, examplified by German Food Discounters – using an protagonist specific approach. For this it is crucial to note that not the retail format level but the company level is the key feature to assess the profitability of investments in German Food Discounters. Using a Huff-model based regression approach, a rental analysis of German Food Discounters showed that not only location but also contract characteristics affect the rent of German Food Discounters. However, this object-specific influence is an indicator of the competitive strategy of the respective provider. Based on these theoretical and empirical findings, the thesis forms a foundation for the systematic understanding of retail and real estate research. At the same time the results serve as a basis for property rating or rental models and thus contribute decisively to a higher market transparency.