CoStar Expands At Buckhead Tower
The top dog in real estate data is taking even more space in Buckhead.
CoStar has inked a deal for 25,800 SF at Phipps Tower, the 500K SF, glass-encased trophy tower in Buckhead. CoStar's expansion deal adds to the 56K SF it already occupies in the building.
The deal was brokered by Cushman & Wakefield Executive Managing Director Kirk Diamond, Executive Director April Parrish and Senior Director Erin Smith. CoStar Director of National Facilities Nadia O'Dea also worked with the brokers, while CBRE Vice Chairman Sam Holmes represented Goodwin Wright, which subleased the space to CoStar.
The deal allows CoStar to consolidate its local holdings and 560 Atlanta-based employees, O'Dea said in a statement.
“For the past six years, Buckhead has provided an extremely convenient location, offering quick access for our clients and employees,” O'Dea stated.
CoStar surpassed $1B in annual revenue in 2018. It has been on an acquisition tear since 2014, when it purchased Apartments.com. Other major acquisitions since then include Atlanta-based Apartment Finder, ForRent.com and most recently Cozy Services. CoStar CEO Andy Florance told Bisnow earlier this year that, if the economy turns, it will likely look to increase its pace of acquisitions further.
CORRECTION, APRIL 3, 2:15 P.M. ET: Bisnow incorrectly reported where CoStar was consolidating from due to misinformation. The story has been updated.
