CoStar Group and JLL Renew Five-Year Agreement for CoStar’s Commercial Real Estate Data Services in Canada
TORONTO, May 1, 2019 – CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, along with JLL, has announced a five-year renewal of their agreement. JLL has again chosen CoStar as a commercial real estate information provider in Canada—connecting CRE professionals at one of Canada’s fastest-growing commercial real estate firms with up-to-date, verified information on properties across markets—including rent and sales comps, occupancies, concessions, high-quality visual content and more.
Pursuant to the agreement, JLL will continue to use CoStar Suite for data requirements nationally, in Toronto, Vancouver, Calgary, Ottawa and Edmonton. CoStar offers a searchable, inventory of properties and commercial real estate spaces, including office, industrial, retail, multifamily and land. Through the use of CoStar, JLL is able to track critical information about relevant properties, including onsite details as well as contact and historical information. JLL now has access to newly offered sub-market analytics, underwriting and forecasting services provided by CoStar.
“JLL was one of CoStar’s first clients in Canada, and we are proud to be continuing and growing our 5-year long relationship,” stated CoStar Canada Managing Director, Mark Ibbotson. “Through its use of CoStar Suite, we believe JLL will continue to increase revenues and productivity, develop business faster, serve clients better and earn more commissions.”
One of JLL’s top priorities is the use of technology innovations to help brokers identify smart opportunities and help clients take advantage of them quickly. CoStar’s focus on innovation enables JLL maintain its reputation as an early adopter of technology solutions while serving clients better. CoStar Suite provides JLL brokers with the researched information necessary to help them focus on client relationships—eliminating extensive work associated with in-depth property research.
“CoStar is a one-stop shop for JLL, that we believe saves us time and money. In Canada, we have grown our revenues by 20% in the past year alone and our employee base from 200 to 1,100—a 500% increase in the past two years,” said Brett Elofson, Managing Director, National Tenant Representation group, JLL Canada. “One of the key ingredients to JLL’s success is the foundation CoStar provides us from an information point of view, making our decision to use CoStar’s suite of services an easy one.”
Media Contact:
Matthew Blocher, CoStar Group
(202) 346-6775, mblocher@costar.com
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About CoStar Group, Inc.
CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. LoopNet is the most heavily trafficked commercial real estate marketplace online with approximately 5 million monthly unique visitors per month. Realla is the UK’s most comprehensive commercial property digital marketplace. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. CoStar Group’s websites attracted an average of approximately 42 million unique monthly visitors in aggregate in the fourth quarter of 2018. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a staff of over 3,700 worldwide, including the industry’s largest professional research organization. For more information, visit www.costargroup.com.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about CoStar's plans, objectives, expectations, beliefs and intentions and other statements including words such as “hope,” “anticipate,” “may,” “believe,” “expect,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology. Such statements are based upon the current beliefs and expectations of management of CoStar and are subject to many risks and uncertainties. Actual results may differ materially from the results anticipated in the forward-looking statements. More information about potential factors that could cause results to differ materially from those anticipated 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 in CoStar’s Annual Report on Form 10-K for the year ended December 31, 2018, which is filed with the SEC, including in the “Risk Factors” section of that filing, as well as CoStar’s other filings with the SEC available at the SEC’s website (www.sec.gov). All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
