CoStar Group, a global east estate group, plans to move corporate headquarters to Arlington

Governor Glenn Youngkin has announced that CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics for commercial and residential property markets, will invest $20 million to relocate its global headquarters from Washington, D.C. to Arlington County.

A news release said the company purchased 1201 Wilson Boulevard, a 560,000-square-foot office building in Rosslyn known as Central Place Tower, and will occupy 150,000 square feet of commercial office space in late 2024. The move to the new headquarters will include 500 relocated jobs and 150 new jobs to the Commonwealth.

“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 the governor. “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.”

“It is an honor to welcome CoStar Group’s global headquarters to Arlington County, complementing the company’s major research and development operations in the City of Richmond,” said Secretary of Commerce and Trade Caren Merrick. “Virginia represents a diversified ecosystem of more than 800 corporate headquarters in a broad cross-section of industries, and our overarching advantage cited is the ability to recruit top talent. We are building the workforce of the future in the Commonwealth so that industry leaders like CoStar Group continue to reinvest here.”

“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,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group.

According to the governor’s news release, “Founded in 1987, CoStar Group (NASDAQ: CSGP) is a leading global provider of online real estate marketplaces, information, and analytics in the property markets. The company is on a mission to digitize the world’s real estate, empowering all people to discover properties, insights and connections that improve their businesses and lives. CoStar Group has grown to over 6,200 employees in 14 countries and is included in the S&P 500 Index, one of the premier benchmarks of the U.S. equities market, and in the NASDAQ 100, one of the world’s largest preeminent large-cap indexes.”