CoStar Group power brokers
By: J. David Chapman/April 26, 2018
CoStar Group Inc. is one of the world’s largest providers of commercial real estate data with market capitalization in excess of $10.6 billion. The Washington, D.C.-based company has a reputation for aggressive, and even litigious, protection of its global online platform and has been in the news the last few years pursuing and defending lawsuits with rival Kansas City-based Xceligent. In the end, CoStar Group made concessions to avoid antitrust issues and Xceligent shut down operations.
Part of CoStar’s success can be attributed to protecting its valuable platform and data, however it is also a company that understands its reliance on clients and employees. In order to build data on sales and lease transactions, CoStar representatives must continuously poll local brokers. This requires cooperation from the brokerage community. CoStar understands the value of this relationship with local brokers and with organizations that support our brokers. CoStar’s client relationship manager Jamie Limberg and account representative Natasha Brimage support our market in Oklahoma. They know the players, and they know the deals. CoStar sponsors events and organizations that benefit our industry such as the Central Oklahoma Commercial Association of Realtors and Commercial Real Estate Council.
Recently, CoStar honored local brokers by awarding its Power Broker Awards. Bruce Holmes, Craig Tucker, Justin Wilson, Stephen Pestinger and Tim McKay were recognized for sales; Adam Rumsey, Julie Kriegel, Craig Tucker, Mark Beffort and Tom Fields for their office leasing accomplishments; Brett Price, George Huffman, Gerald Gamble, Kris Davis and Robin O’Grady for industrial leasing; and George Williams, Kelley Baca, Mark Inman, Stuart Graham, and Susan Brinkley for retail leasing. Congrats to the Power Brokers and thanks to CoStar for recognizing these industry stars.
The company also understands it can’t succeed without talent. CoStar has supported Oklahoma’s only higher education real estate program, at the University of Central Oklahoma, by sponsoring the Commercial Real Estate Summit.
On a national scale, the company just announced a $2.5 million gift to Virginia Commonwealth University to establish the CoStar Endowed Chair in Real Estate Analytics in the VCU School of Business. In giving the gift, CoStar founder and CEO Andrew Florance said he wanted to develop the next generation of real estate leaders by bringing more transparency, velocity, and efficiency to the intersection of big data and global real estate.
J. David Chapman is an associate professor of finance and real estate at the University of Central Oklahoma. (jchapman7@uco.edu).