BETHESDA, MD -- CoStar Group, Inc. (NASDAQ: CSGP) today announced it has expanded its database of industry-leading market information to Southwest Florida including Naples, Ft. Meyers, Bonita Springs, and Cape Coral. The benefits of CoStar's researched information service are designed to significantly improve commercial real estate professionals' productivity and ability to meet the needs of their clients.
Leading commercial real estate firms in Southwest Florida have quickly embraced CoStar's unique value to the market. RE/MAX Commercial, D'Alessandro & Woodyard, VIP Commercial, Colliers Arnold, Premier Properties, IPC, Commercial Realty of Bonita Springs and NAI Southwest Florida are among the first to subscribe to CoStar's Southwest Florida's information service.
"We are pleased to commence service in Southwest Florida with the support of the area's top commercial real estate firms as customers," stated CoStar President & CEO Andrew C. Florance. "We expect that our comprehensive coverage of the Southwest Florida area commercial real estate market will be a valuable tool to local commercial real estate professionals as well as to our broad national subscriber base."
To provide industry-leading property details on all commercial buildings in Southwest Florida, CoStar Field Research teams have been working in the market since May 2004. They have been photographing and researching information on every commercial real estate property in the area – office, industrial, retail and commercial land. Complementing this field activity, CoStar Research Analysts work to update over 100 pieces of information on any given building providing comprehensive, verified information on CoStar's vast property inventory. This detailed information includes rentable building area, floor size, building amenities, for-sale and for-lease availability, asking rental rates, vacancy rates, 360-degree images, detailed, high resolution photographs, property contacts and many additional pieces of information providing a clear picture of each property.
CoStar's continually expanding Southwest Florida database currently includes over 8,600 properties totaling over 126 million square feet of inventory and over 5 million square feet of available space.
Southwest Florida commercial real estate professionals who subscribe to CoStar Property Professional® also have access to CoStar's national inventory of over 95,000 for-sale listings, which has grown by over 80% during 2005. There is no charge to list properties in CoStar's nationwide database.
CoStar's entry into Southwest Florida is part of a planned 21 market expansion that began in 2004. CoStar has also signed license agreements in other recently opened expansion markets with leading firms such as Advantis/GVA, CB Richard Ellis, Colliers Arnold, Cross & Company, Commerce CRG, Trammell Crow, Transwestern Commercial Services and many other firms.
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 59 U.S. markets 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. For additional information, please visit www.costar.com.