LoopNet has recently launched a property database comprising 5 million commercial properties across all major property types including retail, office, industrial and multifamily. The database allows investors to search property records in detail.
The LoopNet Property database is available at no extra cost to LoopNet Premium members and all new LoopNet Premium members that enroll during the database’s beta launch period.
“Historically on LoopNet, you’ve been able to actively search properties that are for sale or for lease, and now we’ve added a separate option that allows you to search property records too,” says Mike Manning, LoopNet’s vice president of marketing.
“The difference between a for sale or for lease listing is that those properties are actively being marketed for sale or lease today, while the property records provide all the information we have on that particular address across time.”
The property database includes information about owners, property history, tenant rosters, and current and previous mortgages. In addition, the software provides tax data, assessed value and lease information, as well as photographs, asking price and rent trends.
The property database is integrated into LoopNet’s commercial real estate marketplace at LoopNet.com and that there are no geographical search restrictions for subscribing clients.
“It will enable clients to prospect for new business, research and assess property values, spot trends, enhance client presentations, better position listings and assess asking rents,” says Thomas Byrne, LoopNet’s president and chief operating officer. “We look forward to the opportunity to build upon our existing marketplace relationships with our clients and offer an entirely new set of solutions to them.”
Additionally, LoopNet launched the LoopNet iPad application that integrates the property database with the LoopNet marketplace. Designed to work with the iPad and other mobile devices, the iPad App was showcased at the International Council of Shopping Centers (ICSC) conference in Las Vegas in May.
LoopNet’s commercial real estate marketplace has more than 4 million registered online members comprising investors, brokers, sellers, owners, tenants and other real estate professionals. As of the first quarter of 2010, the LoopNet marketplace featured more than $450 billion of property available for sale and 6.7 billion sq. ft. of space for lease.