CoStar Group relocates headquarters to Virginia

Governor Glenn Youngkin announced on Tuesday that CoStar Group, a leader in online real estate marketplaces, information, and analytics for commercial and residential properties, will relocate their global headquarters from Washington D.C. across the river to Rosslyn.

The company will invest $20 million to move to the 560,000 sq ft Central Palace Tower late in 2024.

The new headquarters will relocate 500 jobs and create 150 new jobs in the Commonwealth.

CoStar previously invested in the state in 2016 when the Group established headquarters in Richmond with 1,000 employees and in 2021 when they announced their plans to build a 750,000 sq ft campus which would create an additional 2,000 jobs.

The Virginia Economic Development Partnership worked with Arlington Economic Development to secure the project.

Governor Youngkin approved a $1.25 million grant from the Commonwealth’s Opportunity Fund and additional $2.5 million Virginia Economic Development Grant to secure the project.

To view the Governor’s announcement, click here.

For more news from across the Shenandoah Valley, click here.