BETHESDA, MD — November 30, 2009 - CoStar Group, Inc. (Nasdaq:CSGP), the number one provider of information, marketing and analytic services to the commercial real estate industry, today announced that, for the first time ever, online viewers can watch the constant flow of activity occurring throughout the commercial real estate industry on CoStar’s website at www.costar.com.
The unique visual display captures the hundreds of thousands of listing updates, reported lease and sales transactions, and property searches taking place in CoStar’s comprehensive database of commercial real estate information every day, showing where the activity is occurring as it happens.
The industry-wide activity captured and displayed on CoStar’s online national activity map includes the approximately 130,000 times per day that CoStar research analysts add or update property information in CoStar’s database. This unprecedented collection of research-verified information, which includes more than eight billion square feet of available space and more than 1.2 million active listings in the U.S. alone, serves as an essential resource for identifying available space, researching commercial real estate properties and markets, and analyzing market conditions.
The map also displays the location of the approximately 135,000 property searches made each day by brokers, investors, tenants, building owners and other real estate professionals using either CoStar or SHOWCASE.com, the free commercial property search engine operated by CoStar. We believe that this level of search activity on CoStar and SHOWCASE.com demonstrates the value we offer brokers to effectively market their property listings and increase exposure.
Viewers can also see when the buyer and seller sides connect and real estate transactions occur. CoStar’s research organization collects and verifies the information on approximately 2,000 lease or sales transactions each day, confirming the information through dealmaker interviews, public records and other proprietary methods. This expansive research effort provides CoStar subscribers with the ability to analyze market trends right down to the individual transaction using the industry’s largest and most up-to-date database of comparable property sales.
"More than anything else I’ve seen, this real-time display comes closest to conveying the enormous amount of activity occurring throughout the commercial real estate marketplace each business day," stated CoStar Group CEO Andrew Florance. "As this first-ever online representation of commercial real estate activity makes clear, we believe no other information provider can present as complete and as comprehensive a view of the market as CoStar. We believe that our broad and encompassing research sets us apart, producing enormous value for our clients and enabling us to offer information, marketing and analytic products that are unmatched in the industry."
The real-time visual display of commercial real estate activity was initially developed to communicate the expansive coverage of CoStar’s research operation and widespread industry participation in CoStar’s research process. It was first introduced at CoStar’s exhibit booth at the International Council of Shopping Center’s (ICSC) RECon event this past May.
Following its enthusiastic response from those attending the global retail real estate convention, CoStar made the visual representation of real-time commercial real estate activity available on video walls in select offices throughout the U.S. and in London before making it available online at www.costar.com.
About CoStar Group, Inc.
CoStar Group, Inc. (Nasdaq:CSGP) is the number one provider of information, marketing and analytic 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 1,400 people working for the company worldwide, including the largest professional research organization in the industry. For more information, visit http://www.costar.com.