CoStar Group Bids Farewell to Washington, D.C., and Hello to Arlington, Virginia
Key Points to Remember:
- The real estate information behemoth, CoStar Group, has decided to pack up its current Washington, D.C., headquarters and settle down in Arlington, Virginia.
- CoStar purchased its future 23-story, 410,000-square-feet skyscraper for a whopping $540 million. It seems directory assistance for commercial real estate pays off nicely!
- The move is anticipated to be in 2025 when the building is complete, giving the company’s employees ample time to fuss over their new home decor.
- This isn’t just a win for CoStar’s employees but the job market too. The move will reportedly create an additional 150 jobs for the local area, a real estate market’s equivalent of winning the lottery.
A Sarcastic Note to Wrap it Up:
In a world where companies can’t stand still for a second, it’s hardly surprising that CoStar Group, the real estate data giant, is saying “sayonara” to Washington, D.C., and embracing the charms of Arlington, Virginia, in the near future. Spending a cool $540 million on a 23-story, 410,000 square feet building, it seems that CoStar is into the “go big or go home” philosophy. (And they are certainly doing both!)
The move slated for 2025, which should graciously accommodate the delivery timeline of any back-ordered ‘welcome’ doormats they have ordered. Simultaneously, CoStar has become a kind of Santa Claus for local job seekers, promising to generate a fruitful 150 jobs in the local economy — a pretty slick move disguised as Christmas in Arlington.
So, let’s buckle up and enjoy the scenery as CoStar prepares to christen its new corporate castle in the Virginia skyline. If all goes well, CoStar employees may be the next reality TV stars with a hit series – “Moving CoStar: Real Estate and Packing Tape.” Now, wouldn’t that be something to the tune of a good chuckle?
Original article: https://www.inman.com/2024/02/15/goodbye-dc-hello-arlington-costar-group-inks-deal-for-new-hq/
