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Research Firm Posts Stats for Brokers Online

Research Firm Posts Stats for Brokers Online

CoStar Group Inc. is taking its commercial real estate research product live on the Internet.

The Bethesda, Md.-based research firm provides software with leasing, sales and statistical information on office and industrial properties, which customers access on a subscription basis. Its new online product is being launched Dec. 9 at (www.costar.com).

In October, CoStar announced plans to premiere its new Web site on Nov. 1. Portions of the site have been live in some cities since then, but not in San Diego.

Also, the company has been training its staff so employees can teach customers how to use the new services.

Brokers and other commercial real estate professionals use CoStar’s products to look at office and industrial properties and evaluate leasing and sales opportunities.

On the Web, CoStar has added features such as 3D images, new forecasting and analytic tools, and a password-protected Extranet where brokers can share information in real time.

“We’ve spent almost two years developing this new Internet platform,” said Andrew C. Florance, CoStar’s president and CEO.

In October, Florance said the company has spent $7 million on the project.

CoStar has a West Coast operations center in the University Towne Centre area of San Diego, which includes sales, service and software development functions. Locally, the company has 200 employees and 250 companies as clients.

A San Diego-based division called CoStar Comps, which provides information on property sales and acquisitions, was originally Comps Inc. before it was purchased by CoStar in February of 2000.

CoStar, which has 850 employees in 50 U.S. cities, is traded on the Nasdaq under the symbol CSGP. Its stock price closed at $18.28 per share on Dec. 3. Its 52-week range is $15.84 to $26.10.

, Mandy Jackson

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