WASHINGTON, Sept. 10, 2013 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), the primary provider of websites for commercial real estate information, analytics and marketing services, today announced that one of its largest clients, Transwestern, has signed a new national agreement for CoStar's information services. The multi-year agreement provides more than 600 Transwestern users in 32 of the firm's offices with expanded access to CoStar services and consolidates dozens of separate subscription agreements.
Transwestern's professionals across the country will have access to CoStar's industry-leading information services that include CoStar Property Professional®, CoStar COMPS Professional® and CoStar Tenant®. In addition, some of Transwestern's offices have contracted to upgrade their subscription to CoStar's full suite of information services, including CoStarGo®, CoStar's innovative mobile app for the iPad.
The decision to streamline its information services agreements into a single companywide subscription is in keeping with other organizational changes Transwestern has made to support the continued growth it is experiencing. One of the largest privately held real estate services firms in the U.S., Transwestern's work force has grown 32 percent since December 2008. Last year, the firm completed more than $6 billion in leasing, sales and finance transactions.
"Our focus on serving our clients at the highest level has facilitated Transwestern's substantial growth in key markets and service lines, and we're positioning the firm for additional growth in the future," said Chip Clarke, President, Americas for Transwestern. "Having CoStar's robust property information and analytic tools available across the company supports our practice of exceeding our clients' performance expectations and providing best-in-class service."
"We are extremely pleased and gratified that industry-leading companies such as Transwestern continue to choose CoStar as their primary information partner," said CoStar Group founder and CEO Andrew C. Florance. "We take great pride in supporting our longtime clients' continued growth and success."
About Transwestern
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, development, research and sustainability. The fully integrated enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 33 U.S. offices and assists clients through more than 180 offices in 36 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit www.transwestern.net and follow us on Twitter: @Transwestern.
About CoStar Group, Inc.
CoStar Group (Nasdaq:CSGP) is the primary provider of websites for commercial real estate information, analytics and marketing services. 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. Through LoopNet, the Company operates the most heavily trafficked commercial real estate marketplace online with more than 7 million registered members. CoStar operates websites that have over 9 million unique monthly visitors in aggregate. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe with a staff of approximately 2,000 worldwide, including the industry's largest professional research organization. For more information, visit 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 based upon current beliefs and 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 Annual Report on Form 10-K for the year ended December 31, 2012, and CoStar's Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, under the heading "Risk Factors" in each of these filings. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements, whether as a result of new information, future events or otherwise.