CoStar Group Makes a Bold Move to Arlington, Adding Spark to the County's Business Scene

CoStar Group, a leading global provider of online real estate marketplaces, information, and analytics, is packing its bags and heading over to Arlington County. Yep, you heard it right! The decision to relocate to the vibrant neighborhood of Rosslyn marks another exciting chapter in Arlington's thriving business landscape.

Strategic Move to Arlington ​

Snagging the Central Place Tower at 1201 Wilson Boulevard is a smart move by CoStar Group. It shows that Arlington is where the action's at for innovative global businesses. The company's commitment to occupying 150,000 square feet of office space and employing 650 workers in Arlington is a testament to the region's high quality of life, dynamic urban centers, and unparalleled talent pool.

Government Support & Community Engagement

Governor Glenn Youngkin's approval of economic grants totaling $4.75 million underscores Virginia's attractiveness as a corporate headquarters location. The Commonwealth's diverse talent, exceptional quality of life, and stable business climate have once again proven instrumental in attracting top-tier companies like CoStar Group.

CoStar Group's Founder and CEO, Andy Florance, expressed gratitude for the company's 14 years in Washington, D.C., and emphasized their continued commitment to the community even as they transition across the river to Arlington County. The move not only signifies confidence in Arlington's commercial real estate market but also reflects CoStar Group's belief in the region's potential for growth and innovation.

The partnership between CoStar Group and Arlington County extends beyond business operations. The company's payment of nearly $14 million for exclusive use of the "View of D.C." observation deck at 1201 Wilson Boulevard will accelerate the reconstruction of Rosslyn's Gateway Park. This investment will benefit residents and visitors alike, enhancing the public space and contributing to the neighborhood's overall appeal.

CoStar Group's move to Arlington aligns with the county's vision of fostering a vibrant and thriving urban center. As the company's employees integrate into the Rosslyn community, they will contribute to the neighborhood's ongoing transformation into a mixed-use hub. With convenient access to public transportation, dining options, recreational parks, and green spaces, CoStar Group's workplace will undoubtedly enhance the vitality of Rosslyn.

As CoStar Group dives into this new adventure in Arlington County, we're excited to see the good stuff they'll bring to the table. This move is a big deal for Arlington, paving the way for more growth and cool ideas in the region.

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Source: https://www.arlnow.com/2024/02/13/breaking-arlington-lands-hq-of-another-publicly-traded-company/