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July 20, 2005

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Publication Date: Wednesday, July 20, 2005

Business: Alain Pinel opens second Menlo Park office Business: Alain Pinel opens second Menlo Park office (July 20, 2005)

Alain Pinel Realtors plans to open a second Menlo Park office in September with the aim of increasing its share of one of the richest real estate markets in the United States.

The company has leased about 3,500 square feet of office space at 1550 El Camino Real to accommodate 38 agents, staff and administrators, principally to serve Menlo Park, Atherton and Woodside, said Larry Knapp, Alain Pinel's president.

Some of the space will offer private offices for agents.

Alain Pinel's other Menlo Park office is at 620 Santa Cruz Ave. downtown and is staffed by 68 agents. Mary Gebhardt, the longtime manager of that office, will also manage the new office on El Caminio.

In recent months, Alain Pinel has opened offices in Livermore, the Montclair district of Oakland, and the Almaden Valley area of San Jose, the company said.

In addition to the two Menlo Park offices, Alain Pinel has San Mateo County offices in Woodside, Half Moon Bay, San Mateo and Burlingame.

The company noted the rising real estate prices in the county. During the second quarter of this year, 236 homes in San Mateo County sold for $1.5 million or more, up from 190 in the same period last year, the company said.

Alain Pinel says it's the ninth largest real estate firm in the nation with 2004 sales of $7.4 billion. It ranked first nationally in average sales volume per agent of $7.44 million in 2004, the company said.

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