An online real estate marketplace listing a wide variety of commercial properties is recording an unprecedented 56% increase in traffic during the first quarter of this year.
Launched in 1995 and headquartered in Washington, D.C., LoopNet lists everything from hotel, industrial, and multifamily properties across the country, to office, retail, and land offerings.
Owned by the company CoStar Group, which is also based in Washington, LoopNet to date has more than 8 million registered members, partly but not entirely accounting for its more than 31.3 million visitors between January and March.
In a statement, David Mele, president of LoopNet, said the online listing service is “establishing itself as the name brand for commercial real estate property searches among both tenants and investors.”
The company saw a particular increase in traffic during the initial months of the Covid-19 outbreak, when potential real estate buyers preferred the photographic tours of properties offered by LoopNet to visiting those properties.
The site, which also lists lease offerings and upcoming local and regional auctions, additionally regularly runs feature stories looking at everything from co-working space and post-pandemic office trends to affordable housing topics and the metaverse real estate explosion.
LoopNet’s parent company, CoStar Group, has also just announced a 13% increase in revenue at $516 million for the first quarter of this year over the first three months of 2021.
By Garry Boulard
