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CoStar Group Relocates-Plans Arlington County, Virginia, Operations

CoStar Group, Inc., a provider of online real estate marketplaces, information, and analytics for commercial and residential property markets, plans to relocate and establish its headquarters operations in Arlington County, Virginia. The $20 million project is expected to create 150 jobs.

The investment includes the purchase of a 560,000-square-foot office building at 1201 Wilson Boulevard in Rosslyn.

“The financially strategic acquisition of this building will provide the perfect home for the more than 500 employees at our current headquarters. We’re incredibly thankful for our 14 years calling Washington, D.C. home, and we will continue to be a part of this community even as we move across the river to Arlington County,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group.

The project is being supported by a $1.25 million grant from the Commonwealth’s Opportunity Fund. The Governor’s office also approved $3.5 million in funds from the Virginia Economic Development Incentive Grant. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.

“It is an honor to welcome CoStar Group’s global headquarters to Arlington County, complementing the company’s major research and development operations in the City of Richmond,” noted Secretary of Commerce and Trade Caren Merrick. “Virginia represents a diversified ecosystem of more than 800 corporate headquarters in a broad cross-section of industries, and our overarching advantage cited is the ability to recruit top talent. We are building the workforce of the future in the Commonwealth so that industry leaders like CoStar Group continue to reinvest here.”

The Virginia Economic Development Partnership (VEDP) worked with Arlington Economic Development to secure the project.

“CoStar Group’s move to Arlington is a huge win and a testament to our high quality of life, dynamic urban centers, unparalleled talent pool and business-friendly environment,” added Ryan Touhill, Director, Arlington Economic Development. “CoStar Group’s outright purchase of the building also signifies confidence in our commercial real estate market, which is key to our ongoing efforts to reduce office vacancies.”

CoStar Group is a global provider of online real estate marketplaces, information, and analytics in the property markets. The company currently has over 6,200 employees in 14 countries.

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