BETHESDA, MD – August 1, 2007 – CoStar Group, Inc. (NASDAQ: CSGP), the number one provider of information services to the commercial real estate industry, today announced an agreement with CCIM Institute to provide its members with online access to CoStar's database of researched and verified commercial property listings. CCIM Institute, an affiliate of the National Association of Realtors®, confers the respected Certified Commercial Investment Member (CCIM) designation upon qualified professionals in all disciplines of commercial investment real estate.
“We are delighted to partner with the leadership of CCIM to bring their members the most comprehensive and accurate commercial property listings available online – fully researched and verified data that only CoStar can deliver," said Andrew C. Florance, president and CEO of the CoStar Group. "Under this agreement, each CCIM member will gain full access to CoStar's database of researched and verified for sale listings across the U.S., as well as all for lease listings within his or her local market, covering every commercial property class and type.”
CoStar's immense online commercial property database represents more than 40 billion square feet of commercial space and is believed to be the largest collection of researched and verified office, industrial, retail, mixed-use, multifamily, hospitality and land listings in the United States. In addition to being able to search CoStar's online database quickly and easily, CCIM members will also benefit from placing their own space availabilities and for sale property before CoStar's extensive subscriber base of investors, brokers and other property professionals nationwide.
"The technology services CoStar will provide to CCIM Institute keep CCIM designees and candidate members at the leading edge of the industry in terms of online tools," said Joseph A. Fisher, CCIM, 2007 President of CCIM Institute. "The new relationship with CoStar reflects the commitment CCIM leadership has to provide our members with the best resources available in the commercial real estate marketplace."
CoStar is the commercial real estate industry’s largest research organization. Approximately 1,000 highly trained researchers personally gather and verify hundreds of commercial property details using a fleet of specially equipped research vehicles, door-to-door tenant canvassing, sophisticated aerial and architectural photography and satellite mapping systems. This comprehensive research process results in more listings with more accurate and better-quality information.
Under the agreement, CoStar will also provide CCIM members with access to CoStar Connect, the professional way for brokers and owners to present their for lease and for sale listings on their own web site incorporating CoStar's updated listing information and building photos. CCIM members will be able to use CoStar Connect to boost their web site's marketing power and increase productivity by presenting the most complete information available on their properties, including suite-by-suite availability and image libraries. The CoStar Connect service, which automatically updates and manages customers’ online property information, significantly reduces the expense and time associated with adding and maintaining web-based property listings.
About CoStar Group, Inc.
CoStar Group, Inc. (Nasdaq - CSGP) is the number one provider of information services to commercial real estate professionals in the United States as well as the United Kingdom. CoStar's suite of services offers approximately 75,000 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, the company has approximately 1,300 employees, including the largest professional research organization in the industry. For more information, visit www.costar.com
About CCIM Institute
Based in Chicago, CCIM Institute is an affiliate of the National Association of Realtors® (NAR). The Institute confers the respected Certified Commercial Investment Member (CCIM) designation upon qualified professionals who complete an extensive curriculum and meet certain experiential requirements. The CCIM designation was established in 1969 and is recognized as the mark of professionalism and knowledge in commercial investment real estate. More than 8,700 commercial real estate practitioners in all disciplines of commercial investment real estate as well as allied professionals in appraisal, banking, corporate real estate, taxation and law currently hold the CCIM designation, with an additional 9,000 practitioners pursuing the designation. For more information, visit www.ccim.com