CoStar to Move into New $41 Million Arlington, VA Headquarters

February 19, 2024
Share this Post: 

The U.S. real estate portal and data giant CoStar has announced that it has signed a deal worth $41.25 million to buy a new office building.

The 552,000-square-foot space will serve as CoStar's new headquarters and is located in Arlington, Virginia, just across the river from the company's current headquarters in Washington D.C.

Commenting on the move, CoStar founder and CEO Andy Florance said:

“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.”

The new headquarters comes with some financial benefits. It has been reported that Virginia Governor Glenn Youngkin has offered $4.75 million in economic incentives in return for the roughly 150 new jobs CoStar will create in the state.

As well as its new HQ, CoStar is in the middle of building a $460 million expansion of its Richmond campus. The expansion, started in November 2022, will reportedly allow the company to expand its workforce there from 1,500 to 3,500 employees at a time when it is seeking to de-throne Zillow and become the country's number one residential real estate portal operator.

If both projects go as planned CoStar's head count could rise to as many as 8,000.


February 19, 2024
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Nils K
Ringier's Nils Körber on ArtificiaI Intelligence, Training the Machine, and Talking about Problems

"What would you do with one million interns?" The award for the best question at the PropTech and Portal Watch...

Read More
Untitled Design 13
As OnTheMarket Hits 15,000 Advertisers, Zoopla Fights Back with Big Agency Deal

The British property portal Zoopla has announced a new long-term listings deal with Dexters, one of London's top agencies with...

Read More
Untitled Design 12
LeBonCoin Suffers Data Leak and Boliga Comes Under Cyber Attack on Same Weekend

LeBonCoin, the leading French horizontal marketplace owned by Adevinta, has acknowledged that some of its users' personal information was exposed...

Read More
Number 2S Challenging Hero Image 2
Analysis: Can Zoopla, and Domain See Off Challengers and Close the Gap to Market Leaders?

Well-funded challenger portals have been generating a lot of headlines in the industry recently. CoStar has been explicit about its...

Read More