BETHESDA, Md., June 4 /PRNewswire-FirstCall/ -- CoStar Group, Inc. (NASDAQ:CSGP), the number one provider of commercial real estate information/marketing solutions, today announced that CoStar Showcase(R) (http://www.CoStar.com), its new online property marketing service, has surpassed $2 million in initial subscription orders. More than 300 firms have signed up to market their listings through the innovative new service, which officially debuted at the International Council of Shopping Centers (ICSC) RECon event held last month in Las Vegas.
"Based on the enthusiastic response CoStar Showcase received at ICSC, and continued strong interest from our clients, it's clear there is substantial demand among commercial property professionals for a more effective way to market their property listings online," said CoStar Group Founder and CEO Andrew C. Florance. "We believe CoStar Showcase offers a better solution, and we couldn't be more pleased with the market response for our new online marketing service. While some of these contracts include a trial period and an option to cancel, the response to date clearly indicates these clients find CoStar Showcase to be a very compelling and effective solution for marketing their listings online."
The thousands of up-to-date, research-verified property listings available free and without registration at http://www.costar.com offer an enormously valuable resource for those searching for available office, retail, warehouse/industrial, multifamily, land and other commercial properties. By going to http://www.costar.com, visitors can use the free property search tool to access thousands of available for sale and for lease listings, which are updated and maintained by CoStar's own research service, the industry's largest.
About CoStar Group, Inc.
CoStar Group, Inc. (NASDAQ:CSGP) is the number one provider of information/marketing services to commercial real estate professionals in the United States as well as the United Kingdom. CoStar's suite of services offers customers access via the Internet to the most comprehensive database of commercial real estate information throughout the U.S. as well as in the United Kingdom and France. Headquartered in Bethesda, MD, the company has approximately 1,300 employees, including the largest professional research organization in the industry. For more information, visit http://www.costar.com.
This news release includes "forward-looking statements" 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 from those discussed in the forward-looking statements 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-K for the year ended December 31, 2007 and CoStar's Form 10-Q for the quarter ended March 31, 2008, under the heading "Risk Factors." In addition to these statements, there can be no assurance that clients will continue to show strong interest for CoStar Showcase; that there is substantial demand among commercial property professionals for a more effective way to market their property listings online; that CoStar Showcase offers a better solution; that the response to date indicates the clients find CoStar Showcase to be a very compelling and effective solution for marketing their listings online; that the listings available at http://www.costar.com will provide an enormously valuable resource for those searching for available commercial properties; or that visitors to http://www.costar.com that use the free property search tool will be able to access thousands of available for sale and for lease listings. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements.
Source: CoStar Group, Inc.