Real Estate 2024: ANDY FLORANCE

Founded in 1987, CoStar Group, a real estate marketplace and analytics company, runs industry-leading businesses like Homes.com, Apartments.com, LoopNet and STR. In February, it announced its plans to move its headquarters from Washington, D.C., to Arlington County, a $20 million investment on top of its $339 million purchase of the 560,000-square-foot tower on Wilson Boulevard. About 500 corporate employees are planning to relocate to Arlington by the end of the year, and CoStar said it plans to add 150 jobs at the new headquarters. 

CoStar reported $2.46 billion in revenue last year and employs more than 6,200 people in 14 countries. The company has already made significant inroads in Richmond, where it is building a
$460 million expansion of its downtown campus that is expected to house approximately 3,000 employees upon completion in 2026.

Florance started CoStar in 1986 in his Princeton University dorm room, and it went public in 1998. He serves on Virginia Commonwealth University’s board, and in 2023, CoStar made an $18 million donation to VCU, which will establish the CoStar Center for Arts and Innovation in Richmond. The building is expected to open in early 2027.