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CoStar Strikes Deal to Relocate HQ to Arlington
CoStar Group said Friday it had reached an agreement with research and consulting firm Gartner to take back-office space previously leased by Gartner in Arlington, VA. Located at 1201 Wilson Blvd., the building is a 552,000-square-foot office tower that CoStar acquired earlier this year with the intention of relocating its Washington, DC employees to Arlington as part of a corporate headquarters transition when the DC lease expires next year.
As part of the deal, Gartner paid CoStar Group a $48-million early termination fee and signed a new lease for approximately 49,000 square feet at 1201 Wilson Blvd. through December 2032. The deal unlocks enough space to enable CoStar to relocate its headquarters from Washington, DC in early 2025.
“We’ve always intended for 1201 Wilson to become CoStar Group’s headquarters, but this agreement makes it possible for us to complete that process even faster and to better accommodate our continued rapid growth and expansion,” said Andy Florance, founder and CEO of CoStar Group.
- ◦Lease
- ◦Sale/Acquisition
