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CoStar Group buys former SunTrust building in Richmond
CoStar Group Inc. has expanded its Richmond footprint with the $20 million purchase of the former SunTrust office building on the James River. The five-story, 117,448-square-foot building at 901 Semmes Ave. will be occupied by at least 400 employees, however the company has not determined which teams will occupy the space yet, a CoStar Group […]
Feb. statewide hotel revenues were 6.1% lower than 2019
February hotel revenues in Virginia were 6.1% lower than those recorded in February 2019, according to data released Monday by STR Inc., a division of CoStar Group Inc. that provides market data on the U.S. hospitality industry. Hotel rooms sold decreased by 5% last month, compared with 2019 levels. The average daily rate (ADR) paid […]
In the big leagues
Central Virginia continues to attract pharmaceutical companies, advanced manufacturing sites and distribution centers, with 2021 seeing several major deals from companies that will bring large footprints to the region. Richmond was the leader in the clubhouse, with the city occupying half of the spots on the region’s list of the 10 biggest deals of 2021, […]
Va. hotel revenues down 6.5% from Jan. 2019
Virginia hotel revenues in January were 6.5% below January 2019 levels, according to data released Monday by STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, hotel rooms sold decreased by 4% compared with 2019 levels. The average daily rate (ADR) paid for hotel rooms […]
Hotel industry recovering, but unevenly
The hotel industry will continue its recovery from 2020 this year, but unevenly, according to the American Hotel & Lodging Association’s 2022 State of the Hotel Industry Report. “Hotels have faced enormous challenges over the past two years, and we are still a long way from full recovery. The uncertainty about the omicron variant suggests […]
Va. hotel revenues down 19% from Nov. 2019 levels
Virginia hotel revenues in November were 19% below November 2019 levels, according to data released Wednesday by STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, hotel rooms sold decreased by 12% compared with 2019 levels. The average daily rate (ADR) paid for hotel rooms […]
CoStar Group to open $460M campus in Richmond
Washington, D.C.-based CoStar Group Inc., a commercial real estate data and analytics provider, will build a $460 million corporate campus in Richmond, creating 2,000 jobs, Gov. Ralph Northam announced Friday. The new campus will include a 26-story, 510-foot, LEED-platinum-certified skyscraper that will be the tallest building in Virginia, rising two feet taller than the Westin […]
CoStar to purchase Norfolk-based Homes.com for $156M
CoStar Group Inc. announced Wednesday it has reached an agreement to purchase Homes.com, a division of Norfolk-based Dominion Enterprises, for $156 million in cash. Homes.com is a residential property listing and marketing portal that brings nearly 1.8 million residential property listings each month to its membership base of more than 500,000 residential real estate agents […]
CoStar Group expands presence in Richmond
Commercial real estate information and analytics company CoStar Group Inc. announced Tuesday it has subleased an additional 51,000-square-foot office space in Richmond. More than 200 staff members are expected to be based on the ninth, 10th and 11th floors of the Riverfront Plaza East Tower at 951 East Byrd Street, less than a mile from […]
CoStar plans doubling Richmond workforce as part of Navy Hill development
CoStar Group, the Washington, D.C.-based commercial real estate analysis company, announced Monday it plans to build a 400,000-square-foot building in downtown Richmond, doubling its local workforce, as part of the proposed $1.5 billion Navy Hill development. CoStar would double its number of employees to 2,000 in Richmond, where it already employs nearly 1,000 people, according […]
