CoStar Group Explores New Research Home

A Timeline of Success

The CoStar Group is a leading provider of online real estate marketplaces, information, and analytics for commercial and residential property markets. 

Since 2016, the company has had a presence in Virginia. 

Following a competitive bidding process with other states in the Mid-Atlantic and Southeast, CoStar established a headquarters for research and data analytics in Richmond, investing $8.17 million into the project. This location now employs more than 2,300 team members, representing one of the largest employers in the city.

But that was only the beginning.

In 2021, CoStar announced plans to expand its corporate campus in Richmond as well, creating an additional nearly 2,000 new jobs and investing $461 million. The campus provides approximately 750,000 square feet of new office and retail space, a 26-story, LEED-certified office building and a six-story, multipurpose building to be used as a central location for employee amenities.

It came as no surprise, then, once CoStar decided to relocate their global headquarters, that they would look once more to the Commonwealth.

Arlington Bound

In 2024, CoStar invested an additional $20 million to relocate its global headquarters from Washington, D.C. to Arlington County. The company purchased 1201 Wilson Boulevard, a 560,000-square-foot office building in Rosslyn known as Central Place Tower. It currently occupies 150,000 square feet of commercial office space and includes 500 relocated jobs and 150 new jobs.

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.

Andy Florance, Founder and Chief Executive Officer, CoStar Group

The Quest for Quality

VEDP worked with local leaders in both Richmond and Arlington to secure these projects, leveraging programmatic support, available amenities, accessible infrastructure, and more.

At each turn, Virginia’s strategic location, proximity to large population centers and policymakers, world-class workforce, expansive talent pipeline, and growing status as a hub for high-tech investment were able to meet CoStar’s evolving needs. 

Founded in 1987, CoStar Group is a leading global provider of online real estate marketplaces, information, and analytics in the property markets. They have grown to over 8,400 employees in 15 countries and are 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.