CoStar Group, a real estate market and analytics company, is moving its headquarters from the area to a high-rise building in Roslyn that it acquired, and plans to bring more than 600 employees to Arlington when it moves in late 2024.
CoStar Group, a real estate market and analytics firm, is moving its headquarters from the area to a high-rise building in Rosslyn, Virginia, which it acquired, and plans to bring more than 600 employees to Arlington when it moves in late 2024.
CoStar, the company behind Loopnet, Apartments.com, and Homes.com, will pay Arlington County millions of dollars for exclusive use of the building's observation deck, now open to the public, with sweeping views of the Potomac River and the D.C. Monument. is scheduled to be paid.
Koster acquired the 31-story building at 1201 Wilson Blvd., called Central Place, from developer JBG Smith for an undisclosed amount. The building is directly across from the Roslyn subway station. CoStar will occupy 150,000 square feet of the 560,000 square foot building.
CoStar moved its headquarters from Bethesda to 13th Street and L Street in Northwest DC in 2010.
As part of the move, KoStar will pay Arlington County about $14 million in sole fees for the observation deck. The county will use these funds to rebuild Gateway Park in Roslyn, allowing the public space to be completed years ahead of schedule.
This is the latest blow to D.C.'s list of prized corporate tenants announced this year.
Monumental Sports & Entertainment announced a proposed move to Alexandria with the Wizards and Capitals teams at Capital One Arena.
Fannie Mae announced last month that it would shorten the lease for its headquarters in Midtown Center.
CoStar, an S&P 500 company, will join other notable headquarters in Arlington, including AES Corp, Amazon, Boeing, Nestle SA and RTX.
CoStar already has a large presence in Virginia, particularly in Richmond, opening a global operations center in 2016 and recently breaking ground on a Richmond campus that will double its workforce in the city. CoStar has more than 6,200 employees worldwide.
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