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CoStar Signs Transwestern To New National Agreement For Commercial Real Estate Information Services

Stocks in this article: CSGP

WASHINGTON, Sept. 10, 2013 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), the primary provider of websites for commercial real estate information, analytics and marketing services, today announced that one of its largest clients, Transwestern, has signed a new national agreement for CoStar's information services. The multi-year agreement provides more than 600 Transwestern users in 32 of the firm's offices with expanded access to CoStar services and consolidates dozens of separate subscription agreements.

Transwestern's professionals across the country will have access to CoStar's industry-leading information services that include CoStar Property Professional®, CoStar COMPS Professional® and CoStar Tenant®. In addition, some of Transwestern's offices have contracted to upgrade their subscription to CoStar's full suite of information services, including CoStarGo®, CoStar's innovative mobile app for the iPad.

The decision to streamline its information services agreements into a single companywide subscription is in keeping with other organizational changes Transwestern has made to support the continued growth it is experiencing. One of the largest privately held real estate services firms in the U.S., Transwestern's work force has grown 32 percent since December 2008. Last year, the firm completed more than $6 billion in leasing, sales and finance transactions.

"Our focus on serving our clients at the highest level has facilitated Transwestern's substantial growth in key markets and service lines, and we're positioning the firm for additional growth in the future," said Chip Clarke, President, Americas for Transwestern. "Having CoStar's robust property information and analytic tools available across the company supports our practice of exceeding our clients' performance expectations and providing best-in-class service."

"We are extremely pleased and gratified that industry-leading companies such as Transwestern continue to choose CoStar as their primary information partner," said CoStar Group founder and CEO Andrew C. Florance. "We take great pride in supporting our longtime clients' continued growth and success."

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