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LoopNet announces RecentSales research progress

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Summary: In addition to commercial real estate (CRE) property listings, LoopNet has become a useful research source for closed property sales transactions in hundreds of US counties and cities, with over 1 million transactions on file now - including 50,000 in the last 180 days.

Although CRE brokers may already be aware of this resource, the corporate executives and advisors we serve may also find the service to be useful for their own market research about industrial and office properties and buildings, such as when planning for expansion or relocation projects.  It may also be of interest to economic development professionals, such as for benchmarking and planning.

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LoopNet’s RecentSales Service Tops 1 Million Commercial Property Transaction Records Across U.S.

Commercial Real Estate Sales Data Covers 300 Counties and 900 Cities, Including Over 50,000 Closed Transactions in the Last 180 Days

All Commercial Property Types, Including Office, Industrial, Retail, Multifamily

SAN FRANCISCO, CA (November 6, 2008) — LoopNet, Inc. (NASDAQ: LOOP), which operates the largest online commercial real estate marketplace, said today that the company’s commercial property comparables service, LoopNet RecentSales, has surpassed 1 million transaction records across the U.S.

Available on the company’s web site at http://www.LoopNet.com, RecentSales provides real estate brokers, investors, landlords, appraisers and other real estate professionals with the most cost-effective, convenient and timely source for critical commercial property transaction information.  RecentSales includes information for more than 300 counties and 900 cities in the U.S., including over 50,000 transactions that closed in the last 180 days, and features all commercial property types: office, industrial, retail, multifamily, land, lodging, hospitality and other specialty properties.  

Drawing on proprietary data from the LoopNet marketplace, supplemented by public records and primary research, LoopNet can deliver records within days of a transaction’s completion and at a fraction of the cost of alternative services.  The combination of speed and cost savings is rapidly making RecentSales a preferred option for real estate professionals.

“LoopNet launched RecentSales in 2006 in response to industry demand for a convenient, timely, low-cost information service on closed commercial property transactions,” said Thomas Byrne, LoopNet’s President and Chief Operating Officer.  “Since its inception, feedback from LoopNet members has been overwhelmingly positive.  The RecentSales database, now with over 1 million transaction records of every size, makes the service even more valuable to our members, who use it to research and evaluate current and historical commercial real estate sale prices.”

The RecentSales service is available to all LoopNet members, with individual property records priced as low as $1.95 and RecentSales subscriptions available for just $29.95 per month.  RecentSales records include the property type, property location and address, sale date, sale price, full-color map and aerial imagery.  Additional information such as original asking price, buyer name, seller name, property size, property photos, broker name, property description and bird’s eye imagery is also available for most records.

For information on RecentSales, visit our product page at http://www.LoopNet.com/RecentSales.  For subscription information, contact us at .  

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About LoopNet

LoopNet, Inc. is the leading online marketplace for commercial real estate and businesses for sale in the United States.  The LoopNet marketplace covers all commercial property categories, including office, industrial, retail, multifamily (apartment properties for sale), hotel, land, specialty properties, and businesses for sale.  At the end of September 2008, LoopNet had three million registered members and the LoopNet marketplace featured 640,000 commercial real estate listings, including $535 billion of property available for sale and 4.9 billion square feet of space for lease.  According to comScore Media Metrix, LoopNet is the most heavily trafficked commercial real estate web site by a factor of more than 5 times, with 910,000 average monthly unique visitors for January through September 2008.  

LoopNet customers include virtually all of the top commercial real estate firms in the U.S., including CB Richard Ellis, Century 21 Commercial, Coldwell Banker Commercial, Colliers International, The CORE Network, Cushman&Wakefield, First Industrial Realty Trust, Grubb&Ellis, Jones Lang LaSalle, Lee&Associates, Lincoln Property Company, Marcus&Millichap, NAI Global, ONCOR International, Prudential CRES, RE/MAX, Sperry Van Ness, Staubach Retail and TCN Worldwide.
 
The standard forward-looking statements disclaimer can be found in the original press release at the LoopNet website.  
Media Contact at LoopNet

Cary Brazeman

Phone: (310) 205-3590
Fax: (310) 205-3591

 

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