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CoStar Group Plays Role in Providing Data in Terrorist Aftermath

BETHESDA, MD-This research firm has played an important role providing data to hundreds of clients in Manhattan that are trying to replace some of the millions of square feet of real estate lost in the terrorist attack on the World Trade Center twin towers on Tuesday.

By Marlon Millner | Updated on September 15, 2001

BETHESDA, MD-Hundreds of businesses are looking for space in New York City after the devastating terrorist attack on the World Trade Center. The devastation has left businesses large and small scrambling for office space. At least one area firm plans to step in and help those businesses meet their real estate needs.

Based in a Washington suburb, CoStar Group has a database that tracks more than 2 billion sf of space in more than 800,000 buildings nationwide. CoStar has also has information on more than 1 million tenants.

Spokeswoman Pamela Silberman told GlobeSt.com that CoStar has a comprehensive process to gather data. “We call brokers and building owners, we canvas properties,” said Silberman. CoStar has identified six or seven properties that were damaged or destroyed in Tuesday’s attacks. According to CoStar data, there was more than 33 million sf of office space available in New York before the attacks, and a vacancy rate of about 7.4%.

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