Commercial Real Estate: LoopNet acquires Cityfeet.com

LoopNet Inc, which operates the largest commercial real estate marketplace online, announced it acquired privately held Cityfeet.com, reported Inman News.

Cityfeet operates an online distribution network for commercial property listings that are sent to more than 100 partners, including the Web sites of The New York Times, Boston Globe, Los Angeles Times, Chicago Tribune, Dallas Morning News and Atlanta Journal-Constitution.

“The combination of LoopNet and City.feet.com will bring great benefits to both LoopNet and Cityfeet customers,” said Richard Boyle, LoopNet’s CEO and president. ““By bringing together the largest online marketplace and the largest distribution network, we will be providing unmatched exposure opportunities for both LoopNet and Cityfeet commmercial property listings.” LoopNet expects that Cityfeet will add approximately $1 million in revenues to LoopNet for the remainder of 2007.

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