BETHESDA, MD -- CoStar Group, Inc. (NASDAQ: CSGP) has signed a three-year, multi-market renewal agreement to provide its comprehensive leasing, sales and tenant data to Insignia/ESG, Inc. in 26 markets nationwide.
CoStar Group is the leading provider of information services to the U.S. commercial real estate industry. Based in New York City, Insignia/ESG, one of the premier commercial real estate service providers in the United States, is a subsidiary of Insignia Financial Group, Inc. (NYSE: IFS).
The multi-year agreement provides Insignia/ESG with access to CoStar Property®, a complete inventory of office and industrial properties, which allows for insight and analysis on market conditions and space availability. The new agreement consolidates numerous separate license agreements of varying terms into one long-term agreement. In addition, CoStar will continue to maintain separate license agreements with Insignia/ESG affiliates in New York City, Pittsburgh, New Jersey, Baltimore and Seattle. Insignia/ESG will continue to have access to CoStar COMPS® under existing license agreements.
"We are pleased to continue our long-term association with Insignia/ESG," stated CoStar Group President & CEO Andrew C. Florance. "Insignia/ESG has always been a leader when it comes to investing in research and technology to support its powerful brokerage operation. We're proud that Insignia/ESG has decided to continue using the CoStar Property platform across the U.S."
CoStar Group recently has completed multi-year, multi-market license agreements with nine of the leading commercial real estate service providers in the United States. Overall, the Company provides comprehensive building-specific leasing, sales and tenant information on a subscription basis to over 40,000 commercial real estate professionals nationwide.
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 to the most comprehensive, verified database of commercial real estate information in 50 U.S. markets. The company has approximately 800 employees in 32 offices nationally, including the industry's largest professional research organization.
Insignia/ESG, a subsidiary of Insignia Financial Group (NYSE: IFS), is one of the largest commercial real estate service providers in the United States, with comprehensive brokerage, consulting, property management, fee development, investment sales and debt placement operations. The company operates in top U.S. markets nationwide, and has been ranked the number-one brokerage company by Commercial Property News and National Real Estate Investor.