BETHESDA, MD -- With the tragic events of Sept. 11 comes the reality that the firms formerly occupying the World Trade Center Complex are now without office space. CoStar Group expects that the loss of an estimated 11 to 12 million square feet from an already tight New York City market means finding available office space will be extremely difficult.
Over the next few days, CoStar Group will try to ease this difficulty by contacting New York City commercial real estate brokerage firms in an effort to discern where and how much office space is available for those displaced by the collapse of the World Trade Center buildings. CoStar Group expects to continuously update the space availability in its CoStar Property™ database.
"At a time when necessity is the greatest, we urge owners and commercial real estate brokers to assist CoStar Group by updating your available space information and temporary lease opportunities with our research staff," said Andrew C. Florance, CoStar Group president and CEO. "CoStar Group will do all it can to gather quickly and efficiently the most up-to-date information. We appreciate your support, as finding space for those who need it most will require the utmost in teamwork and cooperation."
New York-area commercial real estate brokerage firms and building owners may update their space availability listings by contacting the following CoStar representatives:
David Bow: (888) 265-1443
Sarah Martin: (888) 265-1421
Karen-Ann Mulzac: (800) 613-1304
Yurita Suwandi: (800) 613-1306
Thomas Williams: (800) 893-5096
At the same time, CoStar Property™ subscribers should update their data files daily to ensure they have the latest available information to provide to clients.
Detailed World Trade Center building and tenant information is being posted and updated at http://www.costargroup.com.
About CoStar Group, Inc.
Headquartered in Bethesda, MD, CoStar Group, Inc. (NASDAQ: CSGP), is the leading provider of information services to the U.S. commercial real estate industry. CoStar's suite of products offers customers access via the Internet to the most comprehensive, verified database of commercial real estate information in over 50 U.S. markets. The company has approximately 900 employees and contractors nationally, including approximately 650 highly trained commercial real estate research professionals in 27 offices.