CoStar will occupy the entire 4535 Towne Center Court, a two-story, 41,551-sf office building in the Towne Center Tech Park. The property is owned by CarrAmerica and leased to Gateway Inc. CoStar declined to release the lease terms, but based on the company¹s own figures, the average sublet triple ret rate is $23.19 per sf per year. Such a figure would make the deal worth nearly $1 million per year.
CoStar has been operating in San Diego for more than 18 years through its February 2000 acquisition of COMPS.com. The company currently employs over 210 people at its facility in Scripps Ranch.
The firm is the leading provider of information services to the U.S. commercial real estate industry and the principal information provider for more than 350 San Diego commercial real estate firms.
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