Get in the Loop

Someone forgot to tell LoopNet, Inc. all the doom and gloom news about online companies going out of business or slashing their operations. On the heels of its July 2001 merger with PropertyFirst.com, the commercial real estate online service has expanded its property inventory, added new features to its web site and obtained more than 225,000 registered members.

“By merging with PropertyFirst, LoopNet took two communities and brought them to a single platform in that both investors and brokers can take advantage of the services offered, have access to a wider audience and more products,” says Wayne Pryor, chief technology officer of AMB Property Corporation.

LoopNet members have access to $130 billion of commercial properties for sale and 2 billion square feet of space for lease, with submarket classifications for the top 90 U.S. markets. Members include brokers, buyers and tenants. LoopNet membership is free for the basic features, but users can pay an additional $39.95 per month for a premium membership to receive more exposure, more access, and new and enhanced property marketing, searching and client reporting tools. The company has more than 7,000 premium members.