CoStar, CBRE Hit With Commercial Real Estate Conspiracy Suit (1)

CoStar Group Inc. and some of the nation’s largest commercial real estate brokerages were sued in federal court for allegedly secretly colluding to inflate rents in the markets for office, retail, and industrial space.

Plaintiff FitFactariDC LLC, a commercial tenant, accused CoStar and brokers such as CBRE Group Inc. and Colliers International Group Inc. of sharing sensitive data that enabled them to inflate rents as part of a “hub-and-spoke conspiracy.”

The proposed class action was filed June 12 in the US District Court for the Northern District of Illinois.

Jones Lang LaSalle Inc., Cushman & Wakefield PLC, and Newmark ...