CoStar closes L of a deal: CoStar Group.
CoStar Group's headquarters will remain at the LEED-Certified, 169,429 s/f building under a long-term lease signed with the new owner.
Under the sale agreement, $15 million of the consideration is being held in escrow for the purpose of funding additional build-out and planned improvements for CoStar's space and for the common areas of the building.
The company expects its long-term lease-back agreement at the building will likely be accounted for as an operating lease and will result in additional rent expense in 2011.
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|Title Annotation:||SELLING POINTS|
|Comment:||CoStar closes L of a deal: CoStar Group.(SELLING POINTS)|
|Publication:||Real Estate Weekly|
|Date:||Mar 2, 2011|
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