CoStar Group Purchases Office Building in Richmond for $20M

by John Nelson

RICHMOND, VA. — CoStar Group Inc. has purchased a five-story, 117,448-square-foot office building in Richmond’s Manchester district. The locally based real estate information and analytics firm acquired the property for $20 million. The seller was not disclosed.

Located at 901 Semmes Ave., the office building is situated across James River from CoStar’s planned corporate campus spanning 750,000 square feet. The property was vacant at the time of sale and was formerly anchored by SunTrust Bank (now Truist Financial Corp.), which relocated to an adjacent building.

CoStar employs more than 1,200 people in the Richmond area. Over the next five to 10 years, CoStar expects to become the largest tech company and one of the largest private employers in Richmond.

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