CoStar Doubles Terminus Presence
Could the 800-pound gorilla of real estate data be consolidating into Terminus 200?
CoStar Group is expanding into emptied suites in the 565k SF Buckhead tower that's part of the larger Terminus complex at Peachtree and Piedmont roads. Permits filed with the City of Atlanta are scant on details other than CoStar plans little modification to the existing space. But a source familiar with the deal says the firm is expanding in Terminus 200 from 25k to 50k SF, part of a potential larger consolidation that we reported was being eyed in Atlanta.
It's unclear as of now what use CoStar has for the Terminus expansion. The firm has been quietly eyeing space in Atlanta to consolidate its Atlanta presence following its $170M acquisition last year of Atlanta-based Apartment Finder, operator of Apartments.com. The purchase left CoStar with offices scattered around metro Atlanta—Phipps Tower in Buckhead (here), where CoStar operates its main office, and 2 Sun Court Plaza in Peachtree Corners, home of Apartment Finder.
Sources say the presence at Phipps Tower remains, especially since the firm inked an 11-year extension there in 2012. Calls to CoStar, Cousins Properties—which leases Terminus, and Cushman & Wakefield's Kirk Diamond were unanswered.