All hooked up: CoStar gets CBRE.CoStar Group CoStar Group, Inc. (NASDAQ: CSGP) is a leading provider of information services to commercial real estate professionals in the United States and the United Kingdom. CoStar's suite of services offers customers access via the Internet to the most comprehensive database of , Inc. announced it has signed a national, multi-year renewal agreement with CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. , one of the world's largest commercial real estate services firms, to provide its full suite of information services See Information Systems. to 3,900 CB Richard Ellis professionals in 117 offices nationwide. CoStar Group is the leading provider of information services to the commercial real estate industry in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and the United Kingdom. The new agreement combines and expands the separate agreements signed previously by CB Richard Ellis and Insignia/ESG, Inc., which was acquired by CB Richard Ellis in July 2003. Under the new agreement, all of the former Insignia/ESG professionals at CB Richard Ellis will have access to a broader array of CoStar services than was provided for under the previous license. In addition, the former Insignia/ESG professionals in Atlanta and Cleveland will now have access to CoStar services that were not provided under Insignia/ESG's license agreement. Under terms of the agreement, most of CB Richard Ellis's U.S. professionals will have direct access to the full suite of CoStar information services for their local market, including CoStar Property Professional, which provides a complete inventory of office and industrial properties and sophisticated software to research leasing options, analyze market conditions and position properties in the marketplace; and CoStar Tenant, a database of the detailed tenant information for prospecting and analyses. Under the multi-year agreement, CB Richard Ellis professionals also will have access to CoStar COMPS Comps Another term for "same store sales," which helps investors determine how well a company's brand is doing and how the stores are increasing revenue. Notes: For example, you might hear that Wal-Mart's comps increased 9% last quarter. Professional, the only verified national database of commercial comparable sales transactions; and CoStar Exchange, the largest verified database of commercial properties for sale. In addition, many of CB Richard Ellis's global corporate services Activities that combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. professionals will have access to complete national CoStar Property data, enabling them to better serve their multi-market clients. "We're thrilled to continue our longstanding relationship with CB Richard Ellis," stated Andrew C. Florance, CoStar's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "It's an honor to be selected once again as a key data service for the world's largest real estate services firm, and we're pleased to support its growth." CB Richard Ellis will continue to access CoStar information in the U.K. under a separate license with CoStar's Focus Information subsidiary. |
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