LoopNet Loves Android Users, Too: Commercial Real Estate Marketing and Technology Leader LoopNet Launches Property Search Application for Android Mobile Devices

SAN FRANCISCO, Aug. 4, 2011 /PRNewswire/ -- LoopNet, Inc. (Nasdaq: LOOP), operator of the most heavily trafficked commercial real estate marketplace, today announced the availability of a new commercial real estate search application for Android mobile device users.  Now available as a free download from Android Market or Amazon's Appstore for Android, the LoopNet Android App allows Android based smart phone users to search, locate and access all 800,000 available LoopNet listings nationwide anywhere at any time.

Over 40% of mobile devices sold in the U.S. utilize the Android operating system, according to IDC.  The new LoopNet Android App is FREE to download from the Android marketplace.

LoopNet is a longtime leader in providing innovative commercial real estate marketing and technology tools, including applications for mobile devices.  LoopNet launched the industry's first commercial real estate marketplace search application for the iPhone, and the industry's first iPad App enabling on-the-road access to active commercial real estate listings and to LoopNet's larger Property Facts database of 25 million owners, tenants, lenders and tax records.  LoopNet also maintains a mobile website.  

"'When are you releasing an Android APP?' That was the #1 question we received when we launched our hugely popular iPhone and iPad Apps," said Mike Manning, Vice President of Marketing for LoopNet.  "Android users are numerous and they are vocal.  And now we have an app just for them.  With almost 10% of property views coming from mobile devices, this new app is good news for our property marketers, who will receive even more exposure for their properties from people on-the-go, and good news for searchers, who will now be able to locate nearby properties with just a few screen touches from their Android devices."

Features on LoopNet's Android application include:

• Location Finder: Explore properties in your immediate area using your device'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.

About LoopNet

LoopNet operates the most heavily trafficked commercial real estate marketplace online with more than five million registered members and more than two million unique monthly visitors as reported by Google Analytics.

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 June 30, 2011, 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, The Shopping Center Group and Sperry Van Ness.

Forward-Looking Statements

This release contains forward-looking statements regarding the anticipated benefits of the LoopNet Android App, LoopNet's online commercial marketplace, our customers, the continuing adoption of the Internet and our mobile device applications to market and search for commercial real estate and the value we provide to our members.  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 functionality of the LoopNet Android App, the impact of our pending merger with CoStar Group, Inc., including the possibility that the merger does not close and the risk of business disruption relating to the merger, economic events or trends in the commercial real estate market or in general, our ability to continue to attract unique visitors to our website, our ability to continue to attract new registered members, convert them into Premium Members and retain such Premium Members, our ability to obtain or retain listings from commercial real estate brokers, agents and property owners, competition from current or future companies, our ability to receive timely and accurate sales data from our partners, seasonality, our ability to manage our growth and our ability to introduce new or upgraded products or services and customer acceptance of such services.  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 website 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.