BETHESDA, Md., Oct. 7, 2009 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), the number one provider of information, marketing and analytic services to the commercial real estate industry, today announced that leading global tenant advisory firm Studley significantly increased its access and use of CoStar's commercial property and tenant data. Studley is the latest major commercial real estate services provider to expand its access to CoStar's entire U.S. database of researched and verified property listings and tenant information.
Access to CoStar's comprehensive national coverage and researched and verified information offers tremendous benefits to subscribers, enabling them to quickly and confidently identify available for-lease and for-sale opportunities, analyze market conditions, and facilitate transactions.
Under the agreement, Studley will now enjoy access to CoStar's comprehensive office, industrial and retail property and tenant information for the entire U.S. through two of CoStar's primary information service offerings: CoStar Property Professional(R), and CoStar Tenant(R). CoStar Property Professional provides the most complete inventory of commercial properties of all asset types and sophisticated software to research leasing options, analyze market conditions and demographic data, and position properties in the marketplace. CoStar Tenant provides a database of detailed tenant information for prospecting and analyses.
In addition, certain Studley offices also will have broader market access to CoStar COMPS Professional(R), the most comprehensive source of verified U.S. commercial property sales transactions available online. CoStar COMPS offers detailed information on for-sale, pending and sold properties and portfolios. The independently researched sales transaction information available in CoStar COMPS includes the asking or sold prices, cap rates, closing dates, price per square foot, property types and buyer and seller details. This information provides an invaluable resource for confirming property valuations, comparing asset performance, expediting appraisals, monitoring market trends, identifying active buyers and sellers, and helping to establish pricing parameters for properties in all commercial types and classes.
"CoStar greatly values our long-term association with Studley, the pioneer in providing strategic real estate services to tenants, and we welcome the opportunity to extend our relationship through this expanded subscription agreement for CoStar's industry leading information," stated CoStar Group President and CEO Andrew C. Florance.
"We're also very pleased that another of our major clients has opted to expand their agreement and gain access to the wealth of additional property and tenant information available through our U.S. national subscription," added Florance. "We believe that the extensive additional property, tenant and market information available through a national agreement creates expanded opportunities for our subscribers while enabling them to provide even more value to their clients."
CoStar has provided its industry-leading research information to the real estate professionals at Studley since 1995. This current renewal is Studley's fourth successive multi-year license agreement with CoStar, representing one of the longest continuous client associations in CoStar's history.
"As a world-class, client-centric organization, Studley is committed to ensuring our professionals have access to the best information, technology and business resources that support our ability to provide our clients with exceptional service and outstanding results," said Michael Colacino, president of Studley. "CoStar's information has long played an important role in our research services, assisting our brokers in providing our clients with a detailed level of analysis and exceptional insight."
About Studley
Studley is the only global advisory firm with a pure tenant representation delivery platform. Founded in 1954, Studley pioneered this conflict-free business model. Today, with 19 offices nationwide and an international presence through its London office and AOS Studley throughout Europe, Studley provides strategic real estate consulting services to top-tier corporations, law firms, nonprofits, government agencies and institutions of higher education. Information about Studley is available at www.studley.com.
About CoStar Group, Inc.
CoStar Group, Inc. (Nasdaq:CSGP) is the number one provider of information, marketing and analytic services to commercial real estate professionals in the United States as well as the United Kingdom. CoStar's suite of services offers customers access via the Internet to the most comprehensive database of commercial real estate information throughout the U.S. as well as in the United Kingdom and France. Headquartered in Bethesda, MD, CoStar has approximately 1,400 people working for the company worldwide, including the largest professional research organization in the industry. For more information, visit http://www.costar.com.
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, 2008, and CoStar Form 10-Q for the quarter ended June 30, 2009, under the heading "Risk Factors." In addition to these statements, there can be no assurance that more of CoStar's major clients will upgrade to the full U.S. data set; that the CoStar COMPS information is an invaluable resource for all clients for confirming property valuations, comparing asset performance, expediting appraisals, monitoring market trends, identifying active buyers and sellers and helping to establish pricing parameters for properties in all commercial types and classes; and that the information available through a national agreement creates expanded opportunities for CoStar's subscribers while enabling them to provide even more value to their clients. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements.