SAN FRANCISCO, March 22, 2011 /PRNewswire/ -- LoopNet, Inc. (Nasdaq: LOOP), which operates the most heavily visited online commercial real estate information web site, today announced the launch of its expanded line of property research products, Property Facts and Property Comps. These new information services will provide commercial real estate brokers, investors, appraisers, tenants and others with a flexible, cost-effective source of nationwide commercial property data for all major property types. LoopNet Property Facts offers detailed information on more than 10 million commercial properties, providing owner, lender, tenant, market stats and tax information for both on-market and off-market properties. LoopNet Property Comps provides sale price, buyer, seller, sale date and other transaction details for over 1.3 million closed sale transactions.
Commercial real estate professionals now have the choice of subscribing to the LoopNet marketplace to market or search for active sale and lease listings, or subscribing to the Property products — Property Facts or Property Comps — to research the market as a whole at www.LoopNet.com.
"With the launch of these expanded products and services, LoopNet is heralding a significant change in commercial real estate research, which has long been characterized by expensive, restrictive data services that do not adequately meet the needs of a large sector of the market," said Thomas Byrne, LoopNet's President and Chief Operating Officer. "In particular, many brokers and brokerage firms, individual investors, landlords, appraisers and financial services professionals have been priced out of the market for these information services. We are very excited to now provide them with a comprehensive, affordable, nationwide property research solution alternative that covers all property types and all U.S. geographies in one simple subscription that does not require an annual contract."
"As an organization, we are incredibly proud of today's launch," said Rich Boyle, Chairman and CEO. "A key component of our longer-term strategy is expanding the array of products and services that we deliver to an increasing number of industry participants, while extending and deepening our relationship with existing customers. We are confident that Property Facts and Property Comps will prove significant contributors on all of those fronts."
While the LoopNet marketplace features nearly 800,000 listings that are actively marketed for sale and lease, the LoopNet Property Facts and Property Comps databases contain more than 12 times that many records, providing a holistic view of the commercial property inventory in a market, regardless of current availability and regardless of whether it has ever been marketed on LoopNet.
Together, the Property line of products contain a wealth of property details and offer unparalleled ease of use and affordability for nationwide search of office, industrial, retail, multifamily, hotel, land and other specialty properties. Specific data fields include:
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View sample database records and subscribe to the LoopNet Property products at www.LoopNet.com/PropertyTour.
Background on the LoopNet Property Facts Database
Property Facts has been in development and operating in beta mode on LoopNet.com for more than a year under the name Property Research Database. With today's official launch of the stand-alone product, LoopNet introduces significant new features and functionality, including:
- Better Search: Filter properties based on over 25 criteria, including property type, location, building size, owner name, mortgage due date, and individual tenant names.
- Better Analytics: Calculate average asking sale and lease prices and closed transaction prices among neighboring properties within a geographic area defined by the user.
- Better Reporting: Generate over a dozen different reports, all customizable with the user's name, company logo and client names, with most fields fully editable by the user.
- Better Tools: Print address labels of owners or tenants for mail campaigns or generate prospecting "call sheets" for telemarketing campaigns.
"LoopNet members who have been using the beta version of the Property Research Database will immediately notice the powerful new features and expanded data sets," said Mike Manning, LoopNet Vice President of Marketing. "These include advanced search parameters, robust report creation and editing capabilities, additional breadth and depth of the data sets, including land, prospecting capabilities such as lists and mailing labels, and more. This is the most powerful suite of LoopNet research tools ever for commercial real estate brokers, enabling them to find more deals, advise their clients to make smarter, more informed investment and leasing decisions, and work more efficiently."
LoopNet, available at http://www.LoopNet.com, operates the most heavily trafficked commercial real estate marketplace online with more than 4 million registered members and more than 6 million unique visitors quarterly as reported by Google Analytics. LoopNet also now offers one of the largest commercial property databases with more than 10 million commercial property records.
The LoopNet marketplace 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 December 31, 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 Apartment Realty Advisors, Cassidy Turley, CB Richard Ellis, Coldwell Banker Commercial, Colliers International, Cushman & Wakefield, Grubb & Ellis, Jones Lang LaSalle, Lincoln Property Company, NAI Global, Newmark Knight Frank, ProLogis, The Shopping Center Group and Sperry Van Ness.
This release contains forward-looking statements regarding the anticipated benefits and impact of LoopNet's Property line of products, 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 Property Facts and Property Comps, 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.
For more information contact:
Cary Brazeman, 310-205-3590
SOURCE LoopNet, Inc.