BETHESDA, Md., May 27, 2009 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), the number one provider of information/marketing services to the commercial real estate industry, and media partner Real Estate Forum magazine, the industry's leading news publication, are pleased to announce the winners of the 2008 CoStar Power Broker Awards(tm), recognizing the "best of the best" in commercial real estate brokerage.
As the largest professional research organization serving the commercial real estate industry, CoStar is in a unique position to identify the top firms and brokers in each market. Every year, CoStar tallies the commercial real estate sales and lease transactions that closed during the previous year and presents CoStar Power Broker Awards to the select few in each market who closed the highest transaction volume in commercial property sales and leases that year.
"CoStar Group is very proud to recognize the commercial real estate brokerage firms and individual brokers who truly excelled and achieved remarkable sales and leasing success in 2008 despite the difficult economic circumstances," said CoStar Group President and CEO Andrew C. Florance. "We congratulate all the award winners on their impressive professional accomplishment."
The complete list of 2008 CoStar Power Broker Award winners listed by market can be found at http://www.costar.com/PowerBrokers/.
Now in their seventh year, the CoStar Power Broker Awards are presented to the top firms and individual dealmakers by market (up to 20 winners in major markets) based on their overall transaction volume for the entire year. All awards are based on transaction data in CoStar's commercial real estate database, the largest, independently researched database of commercial real estate property information available online. Information in CoStar's database is verified and continuously updated by approximately 900 CoStar researchers, comprising the largest commercial real estate research operation of its kind. CoStar's U.S. database contains more than 2.6 million commercial properties, and the total U.S. square footage or gross building area tracked and maintained by CoStar exceeds 66 billion square feet.
In addition to receiving individually customized CoStar Power Broker award plaques, winners will be showcased on CoStar's website, as well as in a gatefold insert included in Real Estate Forum magazine, and announced on the daily news and information website, www.GlobeSt.com.
About Real Estate Forum
Real Estate Forum, a publication of Incisive Media, is America's premier commercial real estate business magazine, delivering cutting-edge real estate editorial, strategic insights and practical information. The publication covers a wide range of topics, including alternative investment vehicles, new financing structures, capital flows, and innovative approaches to development and leasing trends. Also published by Incisive Media's Real Estate Group, www.GlobeSt.com provides up-to-the-minute news as well as enriched content and services. Incisive Media is a leading global provider of specialized business news and information, in print, in person and online. The company's principal markets include financial services, legal services, commercial real estate, marketing services and risk management. More information on Incisive Media's real estate offerings is available at http://www.incisivemediarealestategroup.com.
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, 2008, 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.