CoStar Group Inc. (NASDAQ: CSGP), a global provider of online real estate marketplaces, information, and analytics in the property markets, is moving its headquarters from Washington, D.C., to Arlington County, Virginia.
The company is paying nearly $14 million to relocate into Central Place Tower, a 560,000-square-foot office building in Arlington. The company will move later this year and plans to occupy 175,000 square feet of commercial office space and employ 650 workers at the facility.
“Virginia’s a great choice for a new corporate headquarters location, and we are excited that CoStar Group, a leading provider of online real estate marketplaces, information, and analytics in the property markets, sees the economic advantage in moving to the Commonwealth,” said Gov. Glenn Youngkin in a press statement. ”As states compete for business and jobs, the Commonwealth’s diverse, world-class talent, exceptional quality of life and stable business climate continues to stand out. We are proud that CoStar has chosen Virginia as its home.”
“The financially strategic acquisition of this building will provide the perfect home for the more than 500 employees at our current headquarters,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group. “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.”
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