LoopNet's Property Database Expands By More Than 50% In Less Than Two Months
- Industry's Most Affordable Property Database Now Covers More Than 7.5 Million Properties, Dramatically Exceeding Other Popular Databases -
- LoopNet Advances Mission To Lower The Cost Of Property Information For Commercial Real Estate Professionals -
- Free Access For All LoopNet Premium Members Who Enroll During Beta Launch Period -
Press Release Source: LoopNet, Inc. On Thursday July 1, 2010, 11:00 am
SAN FRANCISCO, July 1 /PRNewswire-FirstCall/ -- LoopNet, Inc. (Nasdaq:LOOP - News), which operates the largest online commercial real estate marketplace, announced today that its recently launched national Property Database has expanded substantially since being introduced in May 2010. Now with more than 7.5 million property records, the LoopNet Property Database has grown over 50% since launch and more properties are being added daily.
As stated at launch, the LoopNet Property Database marks a significant extension of the services that LoopNet delivers to all commercial real estate participants. Historically, LoopNet members have been able to search for available for-sale and for-lease properties in our marketplace, which as of April 1, 2010 comprised approximately 750,000 listings. The recently introduced Property Database contains approximately 10 times the number of properties and represents a more holistic view of commercial inventory in a market — regardless of current availability. A wealth of property details has been assembled, including:
-- Owner Details and History
-- Tenant Rosters and Details
-- Mortgage and Lender History
-- Tax Records and Assessed Values
-- Historical Sale and Lease Listings
-- Property Details and Photos
-- Asking Price and Asking Rent Trends
"Our objective is to help our customers make better decisions, save money, and work more efficiently by providing them with the most affordable and comprehensive database of commercial properties in the industry," said Thomas Byrne, LoopNet's President and COO. "To enhance that objective, we have chosen to make the Property Database available for free to all Premium Members, including those that activate during the Property Database beta period."
"Feedback has been overwhelmingly positive. Customers have told us that the new Property Database will streamline and simplify several of the tasks they perform regularly today. We are also encouraged by the opportunities we see to expand and customize the tools we offer our customers, increasing the ways in which they will be able to access and interact with the wealth of information that we are providing. Additionally, we remain focused on continuing to expand the overall property and information coverage beyond 7.5 million property records."
LoopNet's recently launched commercial property database includes nationwide coverage of office, industrial, retail, multifamily, hotel and other specialty properties. See sample records at www.LoopNet.com/PropertyTour.
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