PRESS RELEASE DETAIL


Dec 07, 2010

Grubb & Ellis Expands Access To CoStar’s Comprehensive Commercial Real Estate Information for Entire U.S.

Grubb & Ellis Expands Access To CoStar’s Comprehensive Commercial Real Estate Information for Entire U.S.

WASHINGTON, D.C., December 7, 2010 -- CoStar Group, Inc. (Nasdaq: CSGP) today announced that Grubb & Ellis Company (NYSE: GBE), one of the largest commercial real estate services and investment companies in the world, has signed a long-term enterprise-wide information services agreement to expand its access to and use of CoStar’s national suite of commercial real estate information services.

 

The new, multi-year agreement provides all Grubb & Ellis company-owned offices, national research and business units full access to CoStar’s industry-leading information products and services.   The agreement also provides special terms and incentives for all Grubb & Ellis affiliate offices throughout the U.S. to benefit from CoStar’s research.

 

"We're extremely pleased that Grubb & Ellis has extended and broadened its agreement with us to make more of CoStar’s information tools and research resources available across its expanding lines of business," said Andrew C. Florance, CoStar Group's founder and CEO. "We believe this agreement to make CoStar's information services available to all of its brokerage, appraisal and research professionals demonstrates the tremendous advantage that CoStar’s fully researched commercial real estate information offers. We are very proud of our long affiliation with Grubb & Ellis, which has relied on CoStar’s research for more than 15 years beginning with its first market subscription in 1995.”

 

About Grubb & Ellis Company

Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies in the world. Its 6,000 professionals in more than 100 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm’s transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through its investment subsidiaries, the company is a leading sponsor of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including public non-traded real estate investment trusts (REITs), mutual funds and other real estate investment funds. For more information, visit  www.grubb-ellis.com .

 

About CoStar Group, Inc.

CoStar Group (Nasdaq: CSGP) is commercial real estate’s leading provider of information, analytic 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. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe with a staff of approximately 1,500 worldwide, including the industry’s largest professional research organization. For more information, visit  www.costar.com .

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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 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 Form 10-K for the year ended December 31, 2009, and CoStar’s Form 10-Q for the quarter ended September 30, 2010, under the heading "Risk Factors." All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements.
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