Dec 03 2008
Engel and Volkers Real Estate Brokerage To Open In Malibu
Looks like another real estate brokerage is going to attempt to set up shop in Malibu. Engel and Volkers started in Germany and quickly spread throughout Europe before heading to the states. The PR release this morning describes them as a ”a high-class property shop” and their first office was planted in Beverly Hills this year. 15 more shops are planned to open by the end of 2009 including Santa Monica, Beverly Hills, West Hollywood, Malibu, San Diego, Newport Beach and Santa Barbara.
Good Luck!
Some of the challenges they are going to face include securing a reasonably priced lease ($21 sq.ft.), and competing with offices, like Prudential Malibu Realty, that are locally owned and operated.
The image on their website showing the Beverly Hills Office is very interesting in that it looks like it could be a Chanel or Prada store if it weren’t for the window display full of home flyers. It will be interesting to see if an “expensive looking boutique” brokerage can compete in Malibu’s competitive real estate marketplace and with turbulent market conditions.
The press release can be found here.
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