LoopNet Introduces National Commercial Real Estate Database with More Than Five Million U.S. Properties

SAN FRANCISCO, May 24 /PRNewswire-FirstCall/ -- LoopNet, Inc. (Nasdaq: LOOP), which operates the largest online commercial real estate marketplace, announced today that it has released the LoopNet Property database, which comprises data on five million commercial properties across all major property types including retail, office, industrial and multifamily, and constitutes one of the largest databases of commercial properties in the real estate industry.

LoopNet is making the LoopNet Property database available at no additional cost to all existing LoopNet Premium Members and all new Premium Members who enroll during the beta launch period.

Additionally, LoopNet is launching the LoopNet iPad App that integrates the LoopNet Property database with the LoopNet Marketplace.  The iPad App is being showcased at the ICSC conference in Las Vegas today and tomorrow.  Visit the LoopNet Booth at S312 N Street - SOUTH HALL - 2ND FLOOR.

With more than 9.1 times the unique visitors of the next closest marketplace during Q1 2010 according to comScore MediaMetrix, LoopNet is the leading destination for searching and marketing commercial properties for sale or lease.  With the launch of its five million record commercial property database, LoopNet is significantly expanding its information service offerings, making a wealth of data available at a very low cost to investors, brokers, sellers, owners, tenants and other real estate professionals researching their markets.

"We are very excited to deliver the LoopNet Property database of more than five million commercial properties to our clients.  Delivering a 'high-quality, alternative source for commercial property information at an affordable price' is the number one request that we have heard from LoopNet clients for many years," said Thomas Byrne, LoopNet's President and Chief Operating Officer.  "We listened.  The LoopNet Property database announced today will cover every major commercial property type and all 50 states in the U.S.  There are no geographic search restrictions for subscribing clients, and the database is integrated seamlessly into LoopNet's commercial real estate marketplace at LoopNet.com.  We look forward to the opportunity to build upon our existing marketplace relationships with our clients and offer an entirely new set of solutions to them."

LoopNet's new commercial property database has launched in beta and includes nationwide coverage of retail, office, industrial and multifamily properties, with land to be added soon.  Information provided includes:

• Owner Details & History
• Tenant Rosters & Details
• Mortgage & Lender History
• Tax Records & Assessed Values
• Historical For Sale and Lease Info
• Property Details and Photos
• Asking Price & Asking Rent Trends

"The value of this information to commercial real estate professionals is enormous," Byrne added.  "The LoopNet Property database will allow customers to use LoopNet to do far more than just market or search for available properties.  It will enable them to prospect for new business, research and assess property values, spot trends, enhance client presentations, better position listings and assess asking rents.  We are very excited to be able to deliver so much additional value to our customers."

About LoopNet

LoopNet operates the largest and most heavily trafficked commercial real estate marketplace online with more than four million registered members and approximately five million unique visitors quarterly as reported by Google Analytics.  LoopNet also now offers one of the largest commercial property databases with more than five million commercial property records.  

The LoopNet marketplace, available at http://www.LoopNet.com, covers all commercial property categories, including office, industrial, retail, multifamily (apartment properties for sale), hotel, land, specialty properties, investment properties and businesses for sale.  As of Q1 2010, the LoopNet marketplace featured more than $450 billion of property available for sale and 6.7 billion square feet of space for lease.  

LoopNet customers include virtually all of the top commercial real estate firms in the U.S., including CB Richard Ellis, Cassidy Turley, Century 21 Commercial, Coldwell Banker Commercial, Colliers International, Cushman & Wakefield, Grubb & Ellis, Jones Lang LaSalle, Lincoln Property Company, Marcus & Millichap, NAI Global, ProLogis, RE/MAX and Sperry Van Ness.

Forward-Looking Statements

This release contains forward-looking statements regarding the anticipated benefits of LoopNet's commercial property database, our efforts to differentiate our online commercial marketplace, deliver increasing value to our customers, and the exposure for available properties listed on our marketplace.  These statements are based on current information and expectations that are inherently subject to change and involve a number of risks and uncertainties.  Actual events or results might differ materially from those in any forward-looking statement due to various factors, including, but not limited to, the accessibility and functionality of our new commercial property database, ongoing volatility in the commercial real estate market, whether increased traffic will lead to new registered members, and our ability to convert them into Premium Members and retain them, our ability to continue to attract unique visitors to our web site, our ability to obtain or retain listings from commercial real estate brokers, agents and property owners, competition from current or future companies, seasonality and our ability to manage our growth.  Additional information concerning factors that could cause actual events or results to differ materially from those in any forward-looking statement is contained in our filings with the Securities and Exchange Commission (SEC).  Copies of filings made by us with the SEC are available on the SEC's web site or at http://investor.LoopNet.com/sec.cfm.  LoopNet does not intend to update the forward-looking statements included in this press release that are based on information available to us as of the date of this release.

SOURCE LoopNet, Inc.