CoStar Group, a top provider of online real estate marketplaces, information, and analytics in the property markets, has announced its plans to relocate its global headquarters to Central Place Tower in Arlington County, Virginia by late 2024. The company will occupy 175,000 square feet of space and employ 650 workers.
The new location at 1201 Wilson Boulevard will also include exclusive use of the observation deck for which CoStar Group has agreed to pay $13.9 million to Arlington County. This payment is expected to prompt approval from the county board for CoStar’s land use applications and grant them sole access to the deck. Furthermore, it is proposed that these funds be allocated towards reconstructing Rosslyn’s Gateway Park as part of the upcoming Capital Improvement Plan.
Governor Glenn Youngkin expressed his excitement about CoStar Group’s decision stating that “Virginia is an excellent choice for a new corporate headquarters location” and highlighting how this move highlights “the economic advantage” offered by relocating their operations within this state.
The announcement was made by Connect CRE on behalf of CoStar Group regarding their relocation plans without mentioning any specific organization or program names such as “Connect”, “Connect LA”, or “Connect Texas”.
