BETHESDA, Md., May 21, 2009 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), the number one provider of information/marketing services to the commercial real estate industry, today announced that its participation in this week's International Council of Shopping Centers (ICSC) RECon 2009 event was an unqualified success, with the company's market-leading commercial real estate information and marketing services generating very strong interest among those attending the global retail real estate convention.
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"We saw as much if not more interest in our information and marketing services at RECon this year than ever before," said Andrew Florance, CoStar Group's founder and CEO, who attributed the enthusiastic response to a continued demand among retail brokers, shopping center owners/developers and retailers for proven, effective research and property marketing solutions that help drive revenues and improve efficiencies in challenging economic conditions.
"Clearly, there is an urgency today for all real estate service providers to work smarter, close deals faster and help clients succeed," continued Florance. "CoStar has been providing the information resources, technology and proven marketing solutions to help our clients do just that for more than two decades. I believe the tremendous value our services provide clearly resonated with the large numbers of retail professionals who showed very strong interest in our offerings throughout the conference."
Among the thousands of retail property professionals who visited CoStar's booth at RECon this year was Perry Zieben, a Houston retail real estate broker. He ended up leaving Las Vegas luckier than most when his business card was selected from all those who entered CoStar's annual "Dream Machine" drawing and he won a Porsche Cayman sports car.
And while the Dream Machine raffle always draws a big crowd, interest among ICSC members was also especially strong for CoStar Property Professional(r) (http://www.costar.com/products/property.aspx), the ultimate authority on commercial real estate property information, which was prominently featured at CoStar's booth this year. Providing access to the largest and most comprehensive database of research-verified information on commercial property, including information on 1.3 million retail properties, 1.9 million retail tenants, 527,000 retail property sales comparables and 210,000 retail properties for sale, CoStar Property Professional is the premier source for information on commercial property, tenants and markets throughout the U.S. and U.K.
And one year after making its market debut at RECon 2008, CoStar SHOWCASE(r) (http://www.costar.com/products/showcase.aspx) made a return engagement to RECON this year. The innovative new service for advertising property listings online has proven extremely effective in helping real estate brokers generate leads from principals, tenants and investors nationwide by presenting their available property directly to the public over the Internet.
In addition to helping real estate brokers reach more prospects and generate direct leads, SHOWCASE also helps brokers promote their business by providing a personal web site featuring their property listings, email and other contact information. (Click here to see the personal SHOWCASE web site for Porsche winner Perry Zieben.) http://showcase.costar.com/b/Commercial-Real-Estate/Perry-Zieben/1951724
"Based on the continued strong interest we've seen since launching this service at RECon last year, it's clear that there is substantial demand among retail and other commercial property professionals for a more effective way to advertise their property listings online, and SHOWCASE offers a superior alternative to other competitive solutions."
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, CoStar has approximately 1,300 people working for the company worldwide, 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, 2008 and CoStar's Form 10-Q for the quarter ended March 31, 2009, under the heading "Risk Factors." All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements.
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CONTACT: CoStar Group, Inc. Analysts/Investors: Brian J. Radecki, Chief Financial Officer (301) 664-9132 firstname.lastname@example.org Media: Timothy J. Trainor, Communications Director (301) 280-7695 email@example.com