SAN FRANCISCO, July 10 /PRNewswire-FirstCall/ -- LoopNet, Inc. (NASDAQ:LOOP), which operates the largest online commercial real estate marketplace, today announced that NAI Global, a premier network of commercial real estate firms and one of the largest real estate services providers in the world, signed a worldwide LoopLink service agreement. The agreement provides for NAI Global to integrate LoopNet's market-leading property search technology into the NAIGlobal.com website. The agreement complements the existing LoopLink service agreements that LoopNet has with more than 30 NAI member firms and provides NAI Global with aggregate reporting of key listing metrics and property marketing effectiveness for all NAI Global listings in the LoopNet.com marketplace.
"We are honored that NAI Global and its leadership team have selected LoopNet's LoopLink technology to exclusively power the NAIGlobal.com website. We are thrilled that NAI Global, a technology innovator within the commercial real estate sector, has selected us to be their global property listing partner," said Richard Boyle, LoopNet's Chief Executive Officer. "With this agreement, investors and tenants worldwide will have real-time search access via NAIGlobal.com to all active NAI Global member listings. Additionally, all NAI Global members' listings within LoopNet.com will automatically populate their respective local firm website (if powered by LoopLink), as well as, the websites of NAIGlobal.com, and if applicable, CCIMNet.com and SIOR.com, which are powered by LoopLink technology." "We are pleased to expand our relationship with LoopNet by adding the LoopLink service. LoopNet is a leader in online listings, and has been a valued service provider to NAI Global for many years. We look forward to leveraging their market-leading LoopLink technology across our global platform," said Jeffrey Finn, NAI Global President and CEO. "We are also excited about the efficiencies and scalability that LoopNet's technology provides our global organization." 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, and businesses for sale. As of March 31, 2007, LoopNet had more than two million registered members, and the LoopNet marketplace featured more than 475,000 commercial real estate listings, including more than $405 billion of property available for sale and 3.2 billion square feet of space for lease. According to comScore Media Metrix, LoopNet is the most heavily trafficked commercial real estate website, with nearly 880,000 monthly unique visitors in the first quarter of 2007.
About LoopNet LoopNet, Inc. is the leading online marketplace for commercial real estate and businesses for sale in the United States. Our online marketplace enables commercial real estate agents, working on behalf of property owners and landlords, to list properties for sale or for lease by submitting detailed property listing information in order to find a buyer or tenant. Commercial real estate brokers, agents, buyers and tenants use the LoopNet online marketplace to search for available property listings that meet their commercial real estate criteria. By connecting the sources of commercial real estate supply and demand in an efficient manner, LoopNet enables commercial real estate participants to initiate and complete more transactions more cost-effectively than through other means. LoopNet also delivers technology and information services to commercial real estate organizations to manage their online listing presence and optimize property marketing.
LoopNet customers include virtually all of the top commercial real estate firms in the U.S., including CB Richard Ellis, Century 21 Commercial, Coldwell Banker Commercial, Colliers International, The CORE Network, Cushman & Wakefield, First Industrial Realty Trust, Grubb & Ellis, Lincoln Property Company, Marcus & Millichap, NAI Global, Prudential, RE/MAX, Sperry Van Ness, The Staubach Company and TCN Worldwide.
LoopNet also owns and operates BizBuySell.com, the largest and most heavily trafficked online exchange for businesses for sale in North America, with more business listings, users and search activity than any other website. BizBuySell also has the largest database of sale comparables for recently sold businesses.
About NAI Global NAI Global is one of the leading commercial real estate services providers worldwide. Headquartered in Princeton, New Jersey, NAI Global manages a network of 5,000 commercial real estate professionals and 350 offices in over 45 countries, and completes over $40 billion in annual transactions. Since 1978, NAI Global clients have built their businesses on the power of NAI's expanding network. NAI Global's extensive services include corporate real estate services, brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain consulting and related advisory services. To learn more, visit http://www.naiglobal.com/.
This release contains forward-looking statements regarding LoopNet's online commercial marketplace, our customers, our strategic alliances, the continuing adoption of the Internet 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, economic events or trends in the commercial real estate market or in general, our ability to continue to attract new registered members, convert them into Premium Members and retain such Premium Members, our ability to receive timely and accurate sales data from our partners, seasonality, our ability to manage our growth, our ability to introduce new or upgraded products or services and customer acceptance of such services, our ability to obtain or retain listings from commercial real estate brokers, agents and property owners, and competition from current or future companies. 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. DATASOURCE: LoopNet, Inc.
CONTACT: Cary Brazeman, +1-310-205-3590, Web site: http://www.loopnet.com/ http://www.naiglobal.com/
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