REtechSouth Video Recap
Posted: April 2nd, 2008
Category: real estate news
Rudy from Trulia has done an excellent job capturing the essence of REtechSouth on video!
Check it out at Trulia.com behind the Scenes at ReTechSouth.com
I will be sending an email recap today to everyone in attendance. The email will include links to read all write-ups of the event, links to support all sponsors, and most importantly access to REtechSouth networking groups on LinkedIn, Facebook and Active Rain.
Discussion: 2 Comments »
CoStar Group Acquires (Dorey) Assets of Atlanta Information Provider’s Online Business
Posted: April 1st, 2008
Category: commercial news
The Official Press Release as of Tuesday April 1, 4:56 pm ET
Acquisition of DoreyPRO Online Business By Commercial Real Estate’s Largest Research Organization Enhances Quality and Scope of Information for Local Service Providers and Confirms CoStar’s Leading Position as Atlanta’s Premier Online Commercial Real Estate Information Service
BETHESDA, Md., April 1, 2008 /PRNewswire-FirstCall/ — CoStar Group (Nasdaq: CSGP - News), the number one provider of information services to the commercial real estate industry, today announced it has acquired the online commercial real estate information assets of First CLS, Inc. (doing business as The Dorey Companies and DoreyPRO), an Atlanta-based provider of local commercial real estate information.
"We welcome the opportunity to expand CoStar’s service in this key U.S. market and add DoreyPRO customers to our comprehensive, international information network," stated CoStar President & CEO Andrew C. Florance. "CoStar has served the information needs of commercial real estate professionals in Atlanta for more than two decades. We’ve long recognized Atlanta’s role as a leading financial center, transportation hub and economic engine for the entire Southeast. This acquisition makes our strong presence in Atlanta and the Southeast even stronger. It will add value to our national network and create additional growth opportunities for our services within the market."
"The vast majority of Atlanta’s commercial property professionals will now be able to access and share high-quality, standardized information across the same platform, resulting in greater efficiency and improved productivity for all market participants," continued Florance. "As the largest research organization serving commercial real estate, CoStar’s research and technology resources are significantly greater than any local company can provide. And the broad exposure our platform can provide to brokers, owners, lenders and investors across the country and internationally offers a significant benefit to our existing customers and those joining us from The Dorey Companies."
Under the acquisition agreement, current DoreyPRO customers will now use the corresponding CoStar information service as called for under their DoreyPRO license agreement: CoStar Property Professional®, the industry’s premier source of comprehensive commercial building information and property listings; CoStar COMPs®, the industry’s most trusted source of verified commercial property sales comparables; and CoStar Tenant®, a searchable database of more than three million tenant records for identifying tenants by square footage occupied, industry type, size or geographic location, and researching lease expirations, move leads and more.
In addition, through a separate agreement, CoStar has acquired the rights to the Dorey Market Analysis Reports. Current Dorey Market Analysis Report customers will now receive the CoStar Market Report. The acquisition does not include Dorey’s print guides.
The new clients joining CoStar in the acquisition will be served by the company’s existing Atlanta research and sales team. CoStar’s database includes more than 32,000 office, industrial and retail properties throughout the greater Atlanta market with a combined inventory of 1.1 billion square feet.
CoStar expects this acquisition will be accretive to achieving a 30% EBITDA margin in its U.S. operations by year-end. We do not expect the acquisition to be material to revenue or earnings for 2008.
About CoStar Group, Inc.
CoStar Group, Inc. (Nasdaq: CSGP - News) is the number one provider of information services to commercial real estate professionals in the United States as well as the United Kingdom. CoStar’s suite of services offers customers access via the Internet to the most comprehensive database of commercial real estate information throughout the U.S. as well as in the United Kingdom and France. Headquartered in Bethesda, MD, the company has approximately 1,300 employees, including the largest professional research organization in the industry. For more information, visit http://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 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 Form 10-K for the year ended December 31, 2007, under the heading "Risk Factors." In addition to these statements, there can be no assurance that the acquisition will add value to our national network and create additional growth opportunities for our services within the market; that the vast majority of Atlanta’s commercial property professionals will now be able to access and share high-quality, standardized information across the same platform, resulting in greater efficiency and improved productivity for all market participants; that the broad exposure our platform can provide to brokers, owners, lenders and investors across the country and internationally offers a significant benefit to our existing customers and those joining us from The Dorey Companies; that the acquisition will be accretive to achieving a 30% EBITDA margin in CoStar’s U.S. operations by year-end; and that the acquisition will not be material to revenue or earnings for 2008. All forward- looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements.
Discussion: Comments
Marietta Real Estate
Posted: April 1st, 2008
Category: Marietta Real Estate
Homes For Sale in Marietta GA
About Marietta GA Real Estate
Nestled just north of Atlanta and just south of the North Georgia Mountains, the City of Marietta, Georgia, offers visitors the charm of a small city along with a stimulating urban environment. Marietta has a beautiful and vibrant downtown square filled with restaurants, antique shops and the fun-filled Glover Park. As the county seat of Cobb County, Marietta offers her residents and visitors beautiful parks, quaint streets, Victorian homes and historic sites. Area shopping and progressive businesses are found here as well. Multiple local attractions, sporting events, festivals and industry provide visitors with many exciting things to do and business to conduct.
What you will find in Marietta…
A transportation system which serves the best interests of the City and those traveling to, through and within the city and integrated into the county and State systems including transportation alternatives.
Safe, adequate and well maintained housing for all citizens. The City, neighborhood groups and social organizations will work in partnership to rehabilitate all dwellings and especially those of senior citizens and families in need.
Community participation in beautification initiatives with the City setting the example for the community through maintained, clean and well landscaped rights-of-way, green spaces and other City-owned property.
Support of an education system which provides an atmosphere of learning for all citizens at all levels of education, including vocational schools and colleges. The City supports education initiatives which will involve partnerships with business and all functions of the community.
Professional public safety and City staff who are competent, enthusiastic, efficient and serve as ambassadors of the City, meeting and exceeding the needs of the community through innovative leadership, community involvement and a focus on quality and productivity.
A downtown square representing a vibrant residential, commercial and culturally diverse hub of the City with a blend of historic redevelopment and compatible new development that is the heart of Marietta.
Innovative utility services applying technological advances and providing the highest quality services at competitive rates.
Tourism initiatives making the City a destination for tourists by encouraging, promoting and enhancing the historical, cultural, recreational and entertainment assets of Marietta.
Discussion: Comments
Breaking News: CoStar set to buy Dorey
Posted: April 1st, 2008
Category: real estate news
CoStar Group is one of the nation’s leading providers for commercial property data, listings and comps. Today they are moving to acquire Atlanta’s oldest commercial property resources: Dorey Companies.
This certainly narrows the competition for market dominance in Metro Atlanta down to LoopNet and CoStar. As a commercial broker, I welcome the consolidation. It is very hard to get accurate property data when having to research 3 sources. Having only two commercial listing resources should help brokers and consumers alike when searching for the right commercial investment.
Stay tuned for more news as I receive details of the acquisition.
UPDATE:
CoStar is pushing this as a ‘partnership’ and billing it as "Atlanta’s ultimate online information source". It will be an improvement through consolidation, but I’d love to see CoStar embrace more user-friendly interface maybe even throw some widgets or plugins to us brokers (a la LoopNet).
Costar is currently tracking 40,000 plus properties here in Metro Atlanta which will now combine with Dorey’s 25,000 ish properties they track to yield almost 65,000 properties tracked. There will be some overlap, but the combined results should far outweigh the two separate databases.
I also find it funny that CoStar has a press release dated 1998 about it’s agreement for data sharing and marketing with Dorey Companies:
http://www.costar.com/corporate/press/Release.aspx?c=2216&ekmensel=8_submenu_76_link_2
It’s good to see they finally followed through after 10 years. If this is not proof that the commercial real estate industry needs some modernization, then I don’t what is.
Read the Official Press Release
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