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WASHINGTON, June 13, 2013 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), commercial real estate's leading provider of information, analytics and marketing services, today announced that three of its real estate journalists won news reporting awards from the National Association of Real Estate Editors (NAREE). The annual awards, which recognize excellence in reporting, writing and editing news stories about commercial and residential real estate, were announced last week at NAREE's 47
th Annual Real Estate Journalism Conference held in Atlanta, Georgia.
A panel of expert judges from the E. W. Scripps School of Journalism at Ohio University selected all award winners. Professor Patrick S. Washburn, a former news reporter and editor, chaired the panel. Other top award winners included The New York Times, The Wall Street Journal, Inman News and Consumer Reports.
CoStar Senior News Editor Randyl Drummer won the Gold Award in the
Best Series by an Individual category for his four-part series, "The De-Malling of America," which examined the national scope of distress afflicting many of the nation's older and obsolete enclosed shopping malls. Drummer's series detailed the changing preferences of shoppers, and the challenges investors and municipalities face in repositioning or finding an adequate adaptive reuse for troubled properties.
Commenting on the Gold-winning entry, the NAREE judges said: "The stories reported on the interesting phenomenon of the gap between strong and weak mall properties, which prompted a sell-off of weaker properties, leading to the redevelopment or repurposing of some of them. The question is: who wants to buy a dying mall? And these stories answered that. The writing is clear and avoids jargon, and explains the developments in a way that both lay people and developers can understand."
CoStar's news team also won the Silver Award in the
Best Series by an Individual, taking two of the three medals in this news category. Winning second place was CoStar News Editor Justin Sumner's "Financing Green," a three-part series that provided an in-depth look at options and obstacles for financing sustainability improvements in a recovering commercial real estate market.
In addition, Senior News Editor Mark Heschmeyer won the Bronze Award in the highly competitive
Best Investigative Report or Investigative Series category for his three-part series on the causes and implications of the sudden and unexpected recovery in the U.S. land investment market after a seven-year sales drought.
"We are very proud to be recognized by the National Association of Real Estate Editors for the quality of our news reporting," said CoStar CEO Andrew C. Florance. "Industry-focused news is a valuable complement to the comprehensive data we provide our clients. Together, our news and information deliver a fuller and more complete understanding of what's going on in the market. CoStar's news coverage is an important part of our offering in the U.S. and in the U.K."