Jan 09, 2008

Washington/Baltimore Area Real Estate Companies Enhance Web Sites With CoStar's Newest Service

2001-05-31 2001 Washington/Baltimore Area Real Estate Companies Enhance Web Sites With CoStar's Newest Service

BETHESDA, MD -- Within just two months ...

2001-05-31 2001 Washington/Baltimore Area Real Estate Companies Enhance Web Sites With CoStar's Newest Service

BETHESDA, MD -- Within just two months of the product's debut, 11 premier Washington/Baltimore commercial real estate firms are utilizing CoStar Connect™ to enhance access to and presentation of their exclusively represented properties on their Web sites. Online property listing information is now more easily accessible and comprehensive for site visitors through functionality provided by CoStar Connect™. The subscription based service was developed by CoStar Group, Inc., the leading provider of information services to the U.S. commercial real estate industry, to allow commercial real estate firms to license CoStar's technology and content to market property listings on their corporate Web sites.

Washington/Baltimore firms that have signed up for CoStar Connect™ include: Cassidy & Pinkard, Douglas Development, KLNB Inc., Manekin LLC, Manekin Brothers Abeshouse, Randall H. Hagner & Company, Preferred Offices Corp., Scheer Partners, Spaulding & Slye Colliers, TSC Realty Services, and Washington Real Estate Investment Trust.

These firms' Web sites now enable visitors to research real estate opportunities in a timely and efficient manner. In addition, these sites now include the ability to search each firm's exclusive listings for certain preferences, specifications and availabilities. Each listing includes base building information, photographs, maps, floor plans and optional building tours. With a tenant-friendly design, listing information on each site offers an intuitive Web environment for all visitors. Site visitors will also find a space calculator, featured properties, advanced search functions and quality marketing packages or broker mailers.

"At Cassidy & Pinkard, we continually evaluate new technology that enables us to best serve our clients," said John M. Benziger, senior vice president, Cassidy & Pinkard. "Initially, we considered managing the process in-house, but once we examined how CoStar Connect™ worked, it was clear that choosing their service was the only solution as it provides us with a one-stop Web solution complete with sophisticated tools, full content, intuitive design, and seamless integration with our existing corporate Web site to create a very robust, user-friendly service for our clients."

"We are excited that these firms have chosen CoStar Connect™ to add new technology capabilities, such as the search engine, tailored space queries, space calculators, detailed mapping and virtual tours, to their Web sites," stated Mark A. Klionsky, senior vice president of CoStar Group. "CoStar Connect™ enables active commercial real estate firms to enhance the quality and depth of their listing information by incorporating data fields from CoStar's national database, regularly updated by CoStar's 700 researchers."

CoStar Connect™ derives its content from CoStar's database that contains information on more than 800,000 properties, more than one million digital images and approximately one million tenants, and is proactively managed by CoStar's 700 researchers. CoStar's research staff is responsible for updating the listing content on each firm's site, relieving the staff at each commercial real estate firm from the burden of inputting listing information or keeping building data up-to-date.

"Commercial real estate firms need to cost effectively market their properties or listings through their corporate Web sites with ease," Klionsky added. "However, few brokerage firms or property owners have the time or capital required to design software, collect content or track down brokers to update their listings on a timely basis. CoStar designed CoStar Connect™ to provide our customers with an efficient solution that supplies more data, imagery and sophistication than they could have built independently."

Each firm's Web site may be accessed at the following: Randall Hagner,; Douglas Development,; Manekin Brothers Abeshouse (Web site is presently under construction),; Manekin LLC,; Scheer Partners (Web site is presently under construction),; Washington REIT,; Preferred Offices,; TSC Realty,; KLNB Inc.,

About CoStar Group, Inc.

Headquartered in Bethesda, MD, CoStar Group, Inc. has a suite of products that offers customers access to the most comprehensive, verified database of U.S. commercial real estate information in over 50 markets. CoStar has approximately 900 employees and contractors nationally, including approximately 700 highly trained commercial real estate research professionals in 27 offices.

This news release includes "forward-looking statements," which involve many risks and uncertainties that could cause actual results to differ materially from these statements. Factors that could cause or contribute to such differences include, but are not limited to, those stated in CoStar's Form 10-Q for the quarter ended March 31, 2001 under the heading "Risk Factors". In addition to these statements, there can be no assurance that CoStar Connect™ will be successful or that CoStar Connect™ will contain the features described in this press release. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements.