BETHESDA, MD -- CoStar Group, Inc. (Nasdaq: CSGP), the leading provider of information services to the U.S. commercial real estate industry, announced today it has signed a multi-market, multi-year renewal agreement with Grubb & Ellis.
Under terms of the agreement, CoStar will provide Grubb & Ellis personnel in the real estate service firm's 42 U.S. offices with access to CoStar information products and services which include CoStar Property™, CoStar Tenant™ and CoStar COMPS®. Grubb & Ellis employees currently using CoStar COMPS® will be upgraded to a new Web based version, part of CoStar's platform of uniform browser based applications.
"We're honored Grubb & Ellis has selected CoStar to provide their professionals with the industry's most comprehensive data. We're excited to continue to build upon the mutually beneficial relationship we've enjoyed through the years with Grubb & Ellis," said Andrew C. Florance, CoStar president and CEO. "This agreement is indicative of the type of contracts we are currently signing with many of our customers - longer term contracts and volume buying plans. Our goal is to help our clients manage their information costs, while finding more and more value in CoStar's products and services."
About Grubb & Ellis
Grubb & Ellis Company is one of the world's leading commercial real estate services firms. Through its offices and affiliates and global strategic alliance with Knight Frank, a leading property consulting firm based in London, the firm offers a full range of real estate services, including advisory services, management and consultative services to users and investors across 90 markets, resources of approximately 8,000 people over 200 offices throughout 29 countries including the United States, Europe, Africa, and Asia Pacific.
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.