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Mr. Florance founded CoStar Group in 1987 to provide commercial real estate firms with a cost-efficient outsourcing alternative for their mission critical market information. Today CoStar Group is the leading provider of information services to the commercial real estate industry in the United States and the United Kingdom. CoStar offers a comprehensive suite of information services to over 50 000 industry professionals including brokers property owners lenders appraisers and financial institutions. CoStar now has over 1 000 employees throughout the United States including the industry’s largest research organization. The Company has grown to over $110 million in annual revenues and was added to the NASDAQ Financial-100 Index in 2004. In addition CoStar has been named to the Deloitte & Touche Technology Fast 500 and Maryland Fast 50 for five consecutive years.
Mr. Florance is a recognized leader in commercial real estate information and technology. He served on the real estate focus group of Vice President Al Gore’s National Performance Review that developed the concepts related to the federal government’s use of real estate. In addition the Federal Control Board of the District of Columbia named Mr. Florance to a task force responsible for developing the city’s strategic plan for real estate.
In June 2000 Ernst & Young presented Mr. Florance with its Entrepreneur of the Year Award for his pioneering work in real estate information services and at Realcomm2000 he received a DIGIE Award in recognition for his positive impact on the industry. Also in 2000 National Real Estate Investor named him one of the 21Stars of Tomorrow and in 2004 the same magazine named him one of the 10 most influential people in commercial real estate. Commercial Real Estate Women (CREW) recognized Mr. Florance with its 15th anniversary award for industry innovation.
He is a graduate of Princeton University with a degree in economics and serves on the Board of Directors of St. Andrews School. | 