BETHESDA, MD -- Addition of Triad to CoStar's National Network Increases Exposure to North Carolina Commercial Real Estate Opportunities CoStar Group, Inc. (NASDAQ:CSGP) today announced it is providing its industry-leading market information to commercial real estate professionals in the North Carolina Triad area and has signed seven of the area's top commercial real estate brokerage firms as charter subscribers.
CoStar signed license agreements to provide comprehensive commercial real estate information to charter subscribers Brown Investment Properties, CB Richard Ellis, Coldwell Banker Commercial Triad Realtors, Freeman commercial real estate, The Meridian Realty Group, NAI Maxwell and Triad commercial properties. The Company also signed license agreements with Commercial Carolina Corporation, Hagan Properties, Liberty Property Trust, Parthenon Realty, LLC, Ramm commercial properties, Starmount Company and Twin City Commercial Brokerage.
"We are pleased to commence service in the North Carolina Triad with the support of the area's top commercial real estate firms as customers," stated CoStar President & CEO Andrew C. Florance. "We believe our comprehensive coverage of the Triad area commercial real estate market will be valuable to local commercial real estate professionals as well as to our broad national subscriber base."
CoStar Field Research teams have been working in North Carolina's Triad since May 2004, photographing and collecting information on office, industrial and retail properties. CoStar's Triad area database includes over 14,000 properties totaling over 22 million square feet of space available.
CoStar is the leading provider of information services to the commercial real estate industry in the United States and United Kingdom. CoStar's customers include many large national and regional brokerage firms, along with thousands of small brokerage firms and sole practitioners. In all, more than 50,000 commercial real estate brokers, owners, investors, lenders and appraisers use CoStar services to access detailed building information, search properties for lease and for sale, accurately value properties and position properties in the marketplace.
CoStar maintains the largest researched database of commercial properties in the U.S. and U.K., supported by over 700 highly trained researchers. Subscribers to CoStar Property Professional(R) have access to the most complete database of office, industrial and retail properties, including suite-by-suite space availabilities, for-sale inventory, historical data, powerful analytic tools and the industry's largest digital library of building photos, floor plans and aerials.
North Carolina's Triad commercial real estate professionals who subscribe to CoStar Property(R) also will be able to access CoStar's entire national inventory of over 76,000 for-sale listings. CoStar does not charge brokers or property owners any fees to list their properties on CoStar's nationwide network.
CoStar's entry into North Carolina's Triad is part of a planned 21-market expansion that began in 2004.
About CoStar Group, Inc.
CoStar Group, Inc., (NASDAQ:CSGP) is the leading provider of information services to commercial real estate professionals in the United States and the United Kingdom. CoStar's suite of services offers customers access via the Internet to the most comprehensive database of commercial real estate information on over 55 U.S. markets, London and the United Kingdom. Based in Bethesda, MD, the company has approximately 1,000 employees throughout the United States and the United Kingdom, including the largest professional research organization in the industry.
This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. More information about potential factors that could cause actual results to differ materially from those discussed in the forward- looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including CoStar's Form 10-Q for the quarter ended June 30, 2005, under the heading "Risk Factors." In addition to these statements, there can be no assurance that CoStar's coverage of this market will be valuable to North Carolina's Triad local commercial real estate professionals as well as national subscribers or that CoStar will complete its planned 21-market expansion. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements.
Source: CoStar Group, Inc.
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CONTACT: Jane Bryant, Director of Marketing of CoStar Group, Inc.,
+1-301-280-3891, or jbryant@costar.com
Web site: http://www.costar.com/
About This Release
If you have any questions regarding information in this press release, please contact the organization listed in the press release. Issuers of press releases and not TCI are solely responsible for the accuracy of the content.
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