CoStar Group Announces Release of Property Express; New Web Service Provides On-Demand Access to Comprehensive National Commercial Real Estate Listings, Photographs.Business Editors BETHESDA Bethesda, city, United States Bethesda, uninc. city (1990 pop. 62,936), Montgomery co., W central Md., an affluent residential and commercial suburb of Washington, D.C. The area was settled in the late 17th cent. , Md.--(BUSINESS WIRE)--Nov. 3, 2003 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. (Nasdaq:CSGP CSGP Combat Support Group (USAF squadron type) CSGP Computer Systems Group ) today announced the release of Property Express(TM), a new service providing on-demand On-Demand refers to a service or feature which addresses the user's need for instant gratification and immediacy of use. In most cases the value proposition for an on-demand service is wrapped up in the fact that the user or consumer of the service avoids a significant up-front access to CoStar's national database of office and industrial properties for lease and for sale. CoStar is the leading provider of information services See Information Systems. 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. CoStar Property Professional(TM), the Company's flagship service, provides commercial real estate brokers, owners, developers, lenders and asset managers with the most comprehensive inventory of office and industrial properties across the U.S. on a subscription basis. Thousands of commercial real estate professionals use CoStar Property Professional every day to identify available space, analyze market conditions, evaluate leasing and sale opportunities, value assets and position properties in the marketplace. CoStar Property Express provides access to a "light" version of CoStar Property Professional, for a 24-hour period, without requiring a subscription. Anyone with a need for current, reliable commercial real estate information can log in with a credit card and search for-lease and for-sale listings within the same database commercial real estate professionals rely on for their market information. Property Express currently provides comprehensive coverage of office and industrial space for lease and for sale in 50 major U.S. markets, encompassing over 328 counties. "We believe this exciting new product will appeal to a broad base of current CoStar subscribers who need short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. access to commercial real estate data outside of their home market," stated CoStar Group President & 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. Andrew C. Florance. "In addition, we believe Property Express will be a valuable resource for many other professionals who have an occasional need for high quality commercial real estate information." "The cost advantages of our new technology enable us to offer this scaled-down scaled-down adj → reducido proporcionalmente scaled-down adj → à échelle réduite scaled-down adj → service at an affordable price to small brokers, owners and other users who don't don't 1. Contraction of do not. 2. Nonstandard Contraction of does not. n. A statement of what should not be done: a list of the dos and don'ts. need the full features found only in the CoStar Professional system," Florance added. "We think Property Express is a great way to introduce our services to a much broader audience, and believe that it may ultimately double the number of people using our services." CoStar has offered on demand access to its sale comparables database service, 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. (R), for several years, and has experienced consistent year-over-year increases in both on-demand and subscription revenue. "Based on our experience with COMPS Express(TM), we believe Property Express can become a significant revenue driver and penetration tool," Florance stated. While CoStar Property Professional and Property Express draw on the same database and image library, Property Express is designed specifically to identify leasing and sale opportunities. CoStar Property Professional has all the tools a power user would need--advanced search capabilities, ownership information, historical data, alerts, analytics, forecasting, satellite aerials, user-defined fields, integration with CoStar's other subscription-based services, and access to CoStar Professional Directory. CoStar's data is collected and maintained by the industry's largest professional research organization. CoStar employs approximately 500 experienced researchers who proactively track 25 billion square feet of commercial property across the U.S. and U.K., and update for-lease and for-sale listings from tens of thousands of participating property owners and brokers, ensuring what we believe to be the most accurate and up to date data available. About CoStar Group, Inc. CoStar Group, Inc., (NASDAQ:CSGP) is the 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 Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the to the most comprehensive database of commercial real estate information on 50 U.S. markets, London and the United Kingdom. Based in Bethesda, MD, the company has approximately 850 employees in 35 offices throughout the United States and the United Kingdom, including the largest professional research organization in the industry. This news release includes "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " 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 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-Q/A for the quarter ended June 30, 2003, under the heading "Risk Factors." In addition to these statements, there can be no assurance that our for-lease and for-sale listing information is the most accurate and up-to-date data available or that Property Express will appeal to current or prospective customers, increase the number of people using our services or become a significant revenue driver or penetration tool. All forward-looking statements are based on information available to CoStar on the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" , and CoStar assumes no obligation to update such statements. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion