CoStar Group Signs Landmark Global Agreement with CBRE
WASHINGTON--(BUSINESS WIRE)--Jan 9, 2019--CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics, and online marketplaces, has signed a new global contract for up to seven years.
CoStar will now provide CBRE with an unprecedented amount of information and listing exposure by delivering additional access to thousands of professionals across North America and Europe. In addition to the over five million properties CoStar tracks in the U.S., all CBRE users will now be able to access CoStar’s information across Canada and the United Kingdom.
As a result of the new agreement, CoStar is now used by 100% of the top 10 U.S. brokerage firms, 90% of the top U.K. firms, and 80% of the top Canadian firms. These leading entities regularly use CoStar’s platform to make connections across markets and countries and with the more than a half billion visitors that visit CoStar Group’s vast online network per year.
CBRE, the world’s largest commercial real estate brokerage provider, employs over 94,000 people in more than 100 countries, accounting for over $322 billion in transactional volume.
CBRE has relied on CoStar for commercial real estate information, analytics, and online marketing in the U.S. for three decades. In 2018, CBRE professionals logged into CoStar more than one million times. CBRE usage of CoStar doubled in 2018 over 2016. CoStar and LoopNet combined represent one of CBRE’s largest online marketing channels for their commercial real estate listings. In 2018, 3.4 million visitors viewed CBRE listings more than one billion times on CoStar websites.
This landmark agreement is a watershed moment for CoStar as it continues to grow internationally, providing over 175,000 commercial real estate professionals in 29 countries around the world with best-in-class real estate information and analytics.
“We are honored CBRE has entrusted CoStar with a vital part of its business and are thrilled to enter our first global agreement with the firm,” said CoStar Group Founder and Chief Executive Officer Andrew Florance. “We are committed to providing CBRE professionals around the world with the best technology, information, analytics, and service possible.”
Visit costargroup.com for more information.
About CoStar Group, Inc.
CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. 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. LoopNet is the most heavily trafficked commercial real estate marketplace online with approximately 5 million monthly unique visitors per month. Realla is the UK’s most comprehensive commercial property digital marketplace. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. CoStar Group’s websites attracted an average of approximately 45 million unique monthly visitors in aggregate in the third quarter of 2018. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a staff of over 3,600 worldwide, including the industry’s largest professional research organization. For more information, visit www.costargroup.com.
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KEYWORD: UNITED KINGDOM UNITED STATES EUROPE NORTH AMERICA CANADA DISTRICT OF COLUMBIA IRELAND
INDUSTRY KEYWORD: TECHNOLOGY ONLINE RETAIL DATA MANAGEMENT INTERNET PROFESSIONAL SERVICES FINANCE RETAIL COMMUNICATIONS MARKETING CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: CoStar Group, Inc.
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PUB: 01/09/2019 11:25 AM/DISC: 01/09/2019 11:25 AM