LoopNet Launches The First Mobile Commercial Real Estate Search Application For iPhone and iPod touch

- New App Allows Users To Search For Available Commercial Property Anytime, Anywhere And With Location Specific Relevance -

- 745,000 For Sale And For Lease Listings Accessible On The Go -

Jan 27, 2010, 11:00 ET from LoopNet, Inc.

SAN FRANCISCO, Jan. 27 /PRNewswire-FirstCall/ -- LoopNet, Inc. (Nasdaq: LOOP), which operates the largest online commercial real estate marketplace, released the first commercial real estate search application for iPhone and iPod touch users.  Now available as a free download from iTunes, the LoopNet Commercial Real Estate Search Application allows users to search, locate and access all 745,000 available properties nationwide from their mobile devices.  

With this application, LoopNet remains at the forefront of technology and information services offerings for the commercial real estate industry, increasing the speed and ease with which investors, brokers, sellers, tenants and other professionals can find information on property that is for sale or lease.

"The new LoopNet iPhone application for commercial real estate search provides industry professionals with amazingly easy access to listings from anywhere at any time, and uses the iPhone's GPS capabilities to return results based on the searcher's physical location," says Mike Manning, Vice President of Marketing for LoopNet.  "This benefits both property searchers and real estate professionals marketing property.  With listings at your fingertips on the go, business gets done in real time from wherever the broker, prospective investor, or tenant happen to be."

Features on LoopNet's iPhone application include:

  • Location Finder: Explore properties in your immediate area using the iPhone's built-in GPS capabilities, then walk or drive around and explore properties in your vicinity ... without having to go back to the office to access a computer or run a listings report.
  • Custom Search: Filter results by price, building size and property type (office, industrial, retail, land, multifamily, etc.).
  • Driving Directions: Use Google Maps to plot properties or email directions to a client or friend.

The LoopNet iPhone App is FREE to download, and available for both the iPhone and iPod touch, in Apple's App Store.  Search for "LoopNet" in the App store.

About LoopNet

LoopNet operates the largest and most heavily trafficked commercial real estate listing service online with more than 3.9 million registered members and approximately 5 million quarterly unique visitors.

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.  At the end of September 2009, the LoopNet marketplace featured more than $480 billion of property available for sale and 6.3 billion square feet of space for lease.

LoopNet customers include virtually all of the top commercial real estate firms and organizations in the U.S., including CB Richard Ellis,  Century 21 Commercial, Coldwell Banker Commercial, Colliers International, The CORE Network, CORFAC International, Cushman & Wakefield, First Industrial Realty Trust, Grubb & Ellis, Jones Lang LaSalle, Lee & Associates, Lincoln Property Company, Marcus & Millichap, NAI Global, ONCOR International, ProLogis, Prudential CRES, RE/MAX, Retail Brokers Network, SIOR, Sperry Van Ness, and TCN Worldwide.

Forward-Looking Statements

This release contains forward-looking statements regarding the anticipated benefits of LoopNet's iPhone and iPod touch application, 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 mobile application, 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.