Steele Joins COMPS InfoSystems to Launch Commercial On-Line Listing Service.SAN DIEGO--(BUSINESS WIRE)--June 29, 1998--Herbert D. Steele, formerly president of Real USA of Santa Barbara Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. , has joined 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) InfoSystems Inc. (COMPS), the nation's leading commercial real estate information service, as vice president of commercial listing services, announced president and chief executive officer Christopher A. Crane. Steele will head COMPS' new on-line commercial real estate listing service, expected to premier in the third quarter of this year. "This expansion was a natural for COMPS due to our technology expertise and knowledge of commercial real estate and Herb is superbly qualified to lead us in pursuing our goal of establishing the industry's preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae online listing service," Crane said. "When we decided to expand our services into this new area, we actively recruited Herb, one of the nation's foremost experts in this area." Steele has a diverse background of skills and experience in commercial real estate. For the past two years, he has served as president of Real USA, a national on-line listing service for commercial real estate, where he managed institutional marketing and capital sourcing. He also was executive vice president of The Carlson Co. for five years, a West Coast property management firm. From 1983 to 1991, he was president of a company he founded called The Cornerstone Corp., where he brokered commercial real estate mortgages and investment sales totalling $500 million in California and Texas. Steele earned his bachelor's degree from Duke University and his M.B.A. from the University of Connecticut The University of Connecticut is the State of Connecticut's land-grant university. It was founded in 1881 and serves more than 27,000 students on its six campuses, including more than 9,000 graduate students in multiple programs. UConn's main campus is in Storrs, Connecticut. . He was a lieutenant in the United States Navy Reserve The United States Navy Reserve, until 2005 known as the United States Naval Reserve, is the reserve component of the United States Navy. Reservists are called into active duty, or mobilized, as needed and are required to sign paperwork acknowledging this possibility . He also has been an instructor in real estate finance for the continuing education continuing education: see adult education. continuing education or adult education Any form of learning provided for adults. In the U.S. the University of Wisconsin was the first academic institution to offer such programs (1904). program of the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). at Irvine. COMPS' on-line listing service will provide commercial real estate brokers, property owners and buyers with unprecedented access to comprehensive information on properties for sale or lease throughout the nation. Crane said that COMPS, as the country's leading information provider to the commercial real estate industry, is uniquely qualified to sponsor the service, which he expects to set the standard. Long a leader in real estate information, COMPS' database comprises the nation's first fully integrated and highly accurate information resource on an array of commercial, industrial and multi-family residential Multi-family residential is a classification of housing where multiple separate housing units are contained within one building. The most common form is an apartment building. Many intentional communities incorporate multi-family residences, such as in cohousing projects. properties, hotel/motel and specialty properties, as well as land for development. The research on sales comparables is invaluable to lenders, brokers, appraisers, investors and corporate real estate executives, who use COMPS' confirmed data to research property comparables, identify market trends, expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. the appraisal process and support valuations. For more information on COMPS or for complete product information, interested individuals are encouraged to visit the firm's Web site at www.comps.com, e-mail mrkting@comps.com, or call 800/821-1573.
CONTACT: COMPS InfoSystems Inc.
Sally Romoser, 619/270-8707
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