CoStar Will Cross the River To Virginia
Commercial real estate behemoth CoStar will invest $20 million in a new headquarters in Rosslyn, VA. The company’s headquarters are currently in Washington, DC.
The move, as reported by VirginiaBusiness.com, will mean that 500 workers will move from downtown DC to the new location, and about 150 will be added. CoStar is a real estate data analytics firm, that is also the owner of Apartments.com andHomes.com.
“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,” CoStar founder and CEO Andy Florance said in a statement.
"Arlington is already home to Fortune 500 companies RTX, Boeing and AES, as well as Amazon.com’s HQ2 East Coast headquarters and Nestlé’s North American headquarters. CoStar Group will pay $13.95 million to Arlington County to obtain exclusive, sole use of the 12,000-square-foot Observation Deck in the Central Place Tower, which was the region’s highest public observation deck, offering panoramic skyline views,” according to the article.
Founded in 1987, CoStar employs more than 6,200 workers in 14 countries and is included in the S&P 500 and Nasdaq 100 indexes.
