CoStar Overview
CoStar is a comprehensive and industry-leading platform designed for commercial real estate professionals, offering a wide range of tools and services that cater to various aspects of the commercial real estate industry.
What CoStar Does
CoStar provides an integrated solution for commercial real estate information, analytics, and management. It is tailored to support professionals in buying, selling, leasing, valuing assets, originating loans, and managing diverse portfolios. The platform is renowned for its extensive and accurate data, which helps users make informed decisions quickly and efficiently.
Key Features
Commercial Property Data
CoStar boasts the largest inventory of commercial properties, tracking over 7 million properties, 20 million lease and sale comparables, and 8.3 million commercial tenants. This comprehensive database includes detailed information on ownership, tenants, transaction history, and market trends.
Market Analytics
The platform offers in-depth market analysis tools, forecasts, and trends for various commercial real estate sectors. Users can access KPI trends, forecasts, and historical data to understand market conditions fully.
Lease and Property Management
CoStar Real Estate Manager, a component of the CoStar suite, specializes in lease accounting and administration. It includes features such as lease origination, rent tracking, property management, compliance management, tax management, and insurance management. The software ensures adherence to FASB and IASB accounting standards and automates tasks like lease remeasurements, retrospective true-up journal entries, and critical date notifications.
Transaction Management
The platform supports transaction management by providing tools for managing active transactions, automated renewal projects, and real estate to accounting workflows. It also offers automated rent payments and integrated CoStar market data to facilitate smooth transaction processes.
Mapping and Geospatial Analysis
CoStar includes interactive mapping tools for visualizing property locations, market data, and demographic information. This feature helps users analyze market and submarket conditions effectively.
Research and Reporting
Users can access a vast database of comparable sales, lease comparables, and detailed tenant information. The platform also provides powerful search tools and filters to quickly reach the necessary information. It generates extensive reports, including performance reports, audit trails, and financial reports, which are essential for making informed decisions.
Additional Functionality
- Portfolio Planning and Analysis: CoStar allows users to analyze and plan their portfolios with integrated market data and analytics, helping them identify new opportunities and make strategic decisions.
- Customer Support: The platform is backed by a strong customer success team, offering various levels of support, including email, phone, and live video support, depending on the subscription plan.
- Automation: CoStar automates several processes, such as lease accounting, rent payments, and critical date notifications, reducing manual errors and enhancing compliance.
Benefits
CoStar stands out due to its ability to personalize data to fit specific user needs, its extensive and accurate market information, and its powerful technology. It accelerates daily tasks, provides timely and accurate advice, and reveals new opportunities for business growth. With over 174,000 commercial real estate professionals subscribing to CoStar, it is a trusted and invaluable resource in the industry.