BETHESDA, Md., October 31, 2001 – CoStar Group, Inc. (Nasdaq: CSGP), the leading provider of information services to the U.S. commercial real estate industry, announced it has signed a multi-market, multi-year agreement with Equity Office Properties Trust, the nation's largest publicly held office building owner and manager.
Under terms of the agreement, CoStar will provide Equity Office professionals with access to CoStar Property™ in 18 markets. CoStar Property is a comprehensive inventory of office and industrial properties complete with thousands of details - from building characteristics to space availabilities to transaction histories – and serves as a source for vital industry news providing updates and news alerts written by CoStar's research and editorial staff.
Equity Office expects to add the service to the company's existing methods of monitoring market activity, analyzing supply and demand fundamentals, tracking portfolio performance, gaining market insight, and reporting on market conditions to the investment community.
"We are extremely pleased that Equity Office has selected CoStar Group's comprehensive information as a management and research tool. CoStar Property will provide Equity Office's professionals with unparalleled market intelligence," said Andrew C. Florance, CoStar president and CEO. "With our comprehensive national coverage and sophisticated research process, it makes sense for commercial real estate firms operating in multiple markets to rely on CoStar's standardized data and information. Property owners like Equity Office can now use CoStar data to manage their portfolios more efficiently and effectively than ever before."
"CoStar adds another dimension to our research efforts," said Walter Page, Equity Office vice president of research. "Research service providers deepen the knowledge base we glean from our local presence in 38 markets."
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.