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 Virginia Beach Town Center building.

CoStar’s riverfront campus will feature 750,000 square feet of new office and retail space and a six-story multipurpose building with conference facilities, fitness and wellness, an auditorium and mixed-use retail and restaurant spaces. Plazas and retail areas will front Tredegar Street, facing Brown’s Island.

CoStar already has a significant Richmond presence, with more than 1,000 employees at the former WestRock building at 501 S. 5th St., but the expansion will give CoStar 1 million square feet of downtown Richmond space.

The new campus will include sales, marketing, software development, customer service and support functions on four acres adjacent to its current facility, where its headquarters for research and data analytics is located.

In January, the company purchased the 137,000-square-foot former WestRock office building in Richmond for $130 million and in March it subleased an additional 51,000 square feet of office space.

Virginia competed with other states in the mid-Atlantic and the Southeast for the project.