WASHINGTON, DC-CoStar is moving its Bethesda, MD-based operations tothe District with its purchase of MBA’s building at 1331 L St.–adecision that is a clear win for the city, which often does not comeout on top in site selection competitions.

CoStar is acquiring the10-story property for $41.25 million. It is a loss for theassociation, which acquired it for $76 million a few years ago withplans to occupy much of it and lease out the rest. CoStar, for itspart, expects to save approximately $1 million a year in occupancycosts versus leasing space in a comparable building after the periodof overlapping occupancy costs is over. CoStar’s current lease expireson Oct. 15, 2010.

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