CoStar Group Honored for Leadership in Sustainability by CoreNet Global Mid-Atlantic Chapter

WASHINGTON, June 3, 2013 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), commercial real estate's leading provider of information, analytics and marketing services, today announced that CoreNet Global's Mid-Atlantic Chapter honored CoStar with a Real Estate Award of Excellence in Sustainability Leadership for 2013. CoStar received the award in recognition of its significant contributions to sustainability in corporate real estate. The award was presented during a gala honoring the finalists and winners on May 23 in Washington, DC.

Now in its ninth year, CoreNet's Corporate Real Estate Awards acknowledge and celebrate the achievements of individuals and companies who have demonstrated strong leadership and have made a significant impact to the practice of corporate real estate. A panel of judges selected CoStar for the award based on criteria that included:

  • Implementation of innovative approaches and practices that enhance sustainability
  • Demonstration that sustainability has been integrated into the organization's daily operations
  • A clear commitment to all aspects of sustainability, e.g. environmental quality, social equity, and economic feasibility
  • Reflection of the unique role that corporate real estate plays in sustainability

"CoStar has a long-standing commitment to sustainable business practices across the company," said CoStar Group Founder and CEO Andrew C. Florance. "In addition to tracking the ENERGY STARTM rating and LEED certification status of properties listed in our database, CoStar works to incorporate the most progressive best practices in green building technology in our own facilities. We are very pleased to be recognized by CoreNet and its membership as a leader in sustainability."

CoStar's sustainability efforts are comprehensive, from the design and location of the Company's offices to its use of eco-friendly vehicles for field research and the generous transit subsidies offered to staff in major metropolitan areas to reduce their carbon footprint. CoStar also supports sustainability and green building in academia, sponsoring the academic journal and website, "The Journal of Sustainable Real Estate," which promotes research and awareness of sustainability issues in the commercial real estate industry.

About the CoreNet Global

CoreNet Global is the world's leading association for corporate real estate (CRE) and workplace professionals, service providers and economic developers.

Over 7,000 members, who include 70% of the Fortune 100 and nearly half of the Forbes Global 2000, meet locally, globally and virtually to develop networks, share knowledge, learn and thrive professionally. For more information, visit www.corenetglobal.org/.

About CoStar Group, Inc.

CoStar Group (Nasdaq:CSGP) is commercial real estate's leading provider of information, analytics and marketing services. 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. Through LoopNet, the Company operates the most heavily trafficked commercial real estate marketplace online with more than 7 million registered members. CoStar operates websites that have approximately 10 million unique monthly visitors in aggregate. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe with a staff of approximately 2,000 worldwide, including the industry's largest professional research organization. For more information, visit www.costar.com.

This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. More information about potential factors that could cause actual results to differ materially from those discussed 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 CoStar's Annual Report on Form 10-K for the year ended December 31, 2012, and CoStar's Quarterly Report on Form 10-Q for the quarter ended March 31, 2013, under the heading "Risk Factors" in each of these filings. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements, whether as a result of new information, future events or otherwise.

CONTACT: ALL INQUIRIES: Mark Klionsky (202) 623-5252 mklionsky@costar.comSource:CoStar Group, Inc.