First Contract Providing a Brokerage Services Firm with Service
Across North America and Europe
WASHINGTON–(BUSINESS WIRE)–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
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
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
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.
Megan Sweat/Christine DusomeThe Zimmerman Agency(850)