SAN FRANCISCO-Locally based LoopNet Inc. has signed CB Richard Ellis Group to an agreement that gives CBRE access to all of LoopNet's information services. All of the professionals at CBRE, which is based in Los Angeles, will now have access to LoopNet's complete suite of services, according to a LoopNet release.

LoopNet says that the "Enterprise Search" agreement provides all CB Richard Ellis with access to all 766,000 listings being actively marketed for sale or lease on LoopNet, all 7.5 million property records in LoopNet’s new Property Research Database and all 1.1 million-plus RecentSales transaction comparables. The signing of the deal with CBRE "a milestone" in the San Francisco-based company's expansion, according to Thomas Byrne, LoopNet’s president and COO.

LoopNet, which operates what it describes as the largest and most heavily trafficked commercial real estate listing service online, also reported higher revenue and net income for the second quarter of this year. Commenting on what he called "strong results in Q2," LoopNet chairman and CEO Rich Boyle said, “We are increasingly confident that Q1: 2010 was an 'inflection point' for our business, and are excited to be in growth mode, once again!”

LoopNet's revenue grew to $19.4 million in the second quarter, compared to $18.8 million in the first quarter of 2010 and $19.2 million in the second quarter of 2009. Net income for the second quarter was $3.2 million or $0.07 per diluted share, compared to $1.8 million or $0.04 per diluted share in the second quarter of 2009. Net income applicable to common stockholders for the second quarter of 2010 included an insurance recovery related to past litigation costs of $0.02 per diluted share and the second quarter of 2009 included litigation costs of $0.03 per diluted share.