Washington, DC – CoStar Group, Inc. (NASDAQ: CSGP), the primary provider of websites for commercial real estate information, analytics and marketing services, today announced that CBRE Group, the world's largest commercial real estate services firm, signed a new subscription agreement to make CoStar’s full line of information services available to its commercial real estate professionals in the United Kingdom through CoStar SuiteTM.
Under the new agreement, CBRE professionals across the UK will now have access to CoStar’s newly launched CoStar Suite, featuring CoStar Property Professional®, CoStar COMPS Professional®, CoStar Tenant® and CoStar’s innovative mobile app for the iPad, CoStarGo®. CoStar also provides comprehensive commercial real estate information services to CBRE professionals throughout the US.
CoStar successfully introduced its full suite of industry-leading information services in the UK earlier this year, providing subscribers with access to a comprehensive inventory of office, industrial and retail properties, the UK’s largest commercial property image library, and sophisticated software to research lease and sales availability, analyze trends and transactions, track market conditions and position properties in the marketplace.
The new agreement expands a longstanding business relationship between CBRE and CoStar, and represents an upgrade for CBRE from its current subscription in the UK to the newly launched CoStar Suite. CBRE has subscribed to CoStar’s comprehensive information services in the United States for nearly two decades.
"CBRE is one of our largest and longest-standing customers in the US and UK, and we’re delighted to continue to expand our relationship,” stated CoStar Founder and CEO Andrew C. Florance. “We look forward to helping CBRE realize the benefits of CoStar Suite."
About CoStar Group, Inc.
CoStar Group (NASDAQ: CSGP) is the primary provider of websites for commercial real estate information, analytics and marketing services. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. Through LoopNet, the Company operates the most heavily trafficked commercial real estate marketplace online with more than 7 million registered members. CoStar operates websites that have over 9 million unique monthly visitors in aggregate. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe with a staff of approximately 2,000 worldwide, including the industry's largest professional research organization. For more information, visit www.costar.com
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 based upon current beliefs and 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 Annual Report on Form 10-K for the year ended December 31, 2012, and CoStar's Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, under the heading "Risk Factors" in each of these filings. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements, whether as a result of new information, future events or otherwise.