BETHESDA, Md., July 17, 2009 -- CoStar Group, Inc. (Nasdaq:CSGP), the number one provider of information/marketing services to the commercial real estate industry, today announced a significant addition to its industry-leading research and market analysis platform, providing subscribers with greatly expanded capabilities for using CoStar's vast database of research-verified commercial property information to conduct in-depth analysis and report on trends in sales and leasing activity.
"The extensive new analytic capabilities we've added to our service represent a major step in our ongoing strategy of providing CoStar subscribers with the best available tools for conducting primary research and analysis in commercial real estate," stated CoStar Group President and CEO Andrew C. Florance. "CoStar already offers the most comprehensive commercial real estate database in the industry, created and maintained by the largest research operation in the industry. Now, with these and other analytic tools and enhancements we are bringing to the market, CoStar is committed to delivering additional value to our subscribers by providing even more ways to analyze and interpret the vast amount of data we provide."
With CoStar's enhanced analytic capabilities, subscribers can use an extensive range of options, including building type, property class, geographic location and time frame, to select and analyze a specific set of properties or transactions from CoStar's database of more than one million sales comparables and more than 7.8 billion square feet of available space in the U.S., covering all property types, including land.
The new analytic tools available on CoStar display trend data for the specific set of search results selected by the subscriber for analysis, not a preprogrammed or "canned" market average that some so-called analytic tools display. And CoStar's tools support "macro-to-micro" analysis, providing the ability to view the trend data for the entire results set and the data associated with any of the individual properties or comps included in the analysis. In addition, CoStar's new analytic tools enable subscribers to export their trends results to a spreadsheet for even greater flexibility.
The newly available COMPS Analytic Search focuses on the specialized analysis associated with investment property sales, providing several options the subscriber can apply to target specific property types or conditions, including "Office," "Retail," "Industrial," "Multi-family," "Hospitality," "Shopping Center," "Land," and special sale conditions such as "Portfolio Sale," "1031 Exchange," "Auction," among many others. The new tool can then be used to produce a wide range of trend analysis on the aggregated sale transaction data to show how key investment indicators have performed over time, including Cap Rate, Total Dollar Volume, Total Number of Sale Transactions, Sale Price, Sale Price per Square Foot, Sale Price per Acre and Time to Sale.
As part of the enhanced analytic package released this week, CoStar also added several new features to the existing Property Analytic Search, including the ability to analyze available space. Including space listed as available for lease at a future date but not yet vacant can be a useful leading indicator of future vacancy within specific markets. Three newly available analytic options -- Time on Market, Time To Lease and Time Vacant -- provide additional filters for examining how long space had been actively marketed or vacant before it was leased.
"We believe many of the new analytic capabilities we've added will be extremely useful in providing a solid basis for some of the assumptions called for in popular software applications used for developing discounted cash-flow models," Florance noted. "We hope that all of these enhancements provide additional insight and clarity on changing market conditions and help our clients conduct the type of thorough analysis needed to identify new investment opportunities, avoid risk and forecast future investment performance."
The expanded analytic capabilities are now available at no additional cost (to subscribers with the proper licensing agreement) on CoStar's website at www.CoStar.com under the Analytic section.
About CoStar Group, Inc.
CoStar Group, Inc. (Nasdaq:CSGP) is the number one provider of information/marketing services to commercial real estate professionals in the United States as well as the United Kingdom. CoStar's suite of services offers customers access via the Internet to the most comprehensive database of commercial real estate information throughout the U.S. as well as in the United Kingdom and France. Headquartered in Bethesda, MD, CoStar has approximately 1,300 people working for the company worldwide, including the largest professional research organization in the industry. For more information, visit http://www.costar.com.