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CoStar Bought LoopNet for $860M

I tried the CoStar Kool-Aid but it didn't do it for me. CoStar works well in primary trophy markets like D.C. where they are now based and Chicago. But in the backwaters of New Haven County Connecticut, much of their data is out of date.

LoopNet is less about research and more about marketing, so it was one of the better resources for my company to produce accurate information about market availability if not vacancy rates and absorption rates.

As it is planned now, LoopNet and CoStar will still function as they have traditionally when they were independent companies with CoStar providing information about leasing and sales and LoopNet providing marketing information to the masses. The combination of the two entities will reach 15% of the total Commercial Real Estate world of Broker Professionals, Landlords, Tenants, Lawyers, Property Managers and the rest of us who move the Commercial Real Estate market. The commercial real estate market is one of the largest asset classes in the United States with over $11 trillion in value.

CoStar has acquired ten other real estate information companies, but LoopNet is the feather in its cap. As a user, I don't expect big changes yet, just a lot more sales calls and ultimately, more fees.

The details, facts and figures of the transaction are detailed here on

April 29, 2011

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