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Jones Lang LaSalle Signs New Enterprise Agreement To Expand Use Of CoStar Group's Comprehensive Commercial Property Information To Serve Its U.S. Client Base

Stocks in this article: CSGP

WASHINGTON, March 24, 2011 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP) announced that Jones Lang LaSalle (NYSE:JLL) has signed a new enterprise-wide agreement to expand its use of CoStar Group's comprehensive commercial property, tenant and comparable sales information for the benefit of its domestic client base throughout the United States.

Jones Lang LaSalle is one of the largest providers of real estate and financial services in the world, and has been a major CoStar client since 2000. The firm is committed to delivering expert analysis to its clients through its robust in-house research team that analyzes real estate market conditions using the best available internal and external information resources, including CoStar's research data. Through successive agreements with CoStar over the past decade, Jones Lang LaSalle has consistently added new CoStar services and markets.

Under the newest agreement, Jones Lang LaSalle has increased its total number of CoStar market subscriptions and provided its U.S.-based professionals with full access to all CoStar market subscription services in their local offices. These services include CoStar's flagship property information service, CoStar Property Professional ®, as well as CoStar COMPS Professional ® and CoStar Tenant ®, three industry-leading information services that speed transactions, reduce deal-related costs and improve overall efficiency for real estate professionals.

Jones Lang LaSalle also designated several of its U.S. offices as national subscription sites, with full access to CoStar's complete U.S. data set for CoStar Property and CoStar COMPS. CoStar will continue to host U.S. property listings available on Jones Lang LaSalle's website.

Importantly, the new agreement provides Jones Lang LaSalle with greater flexibility to accommodate growth in the number of its users with access to CoStar's information services for years to come. The firm has recently experienced tremendous growth throughout its Americas region and continues to add strong market hires across its platform worldwide. The firm's expanded access to CoStar's services is expected to increase the level of service its brokers provide to their client base.

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