The gorilla is Bethesda-based CoStar Group, a publicly-traded frontrunner in the commercial property information market that purchased Scott Napier's Real-Net, an online, subscription-based information service that CoStar says currently lists 150 million sf of office, industrial and retail properties here, and approximately 1,350 digital images.
GlobeSt.com broke news of the acquisition a week before it was announced this past Friday. Local sources said CoStar paid approximately $250,000 for the service after CAR declined Napier's offer to pay a much higher figure and launched its own service called CARDS, the "DS" standing for "data service."
Napier's service was known for good data and poor software. With CoStar's software, the service is sure to be a formidable competitor to CARDS, which is still in its infancy, as yet unable to produce the slick reports that CoStar will now be able to generate on the Portland market with Napier's property database.
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