Teles Properties touts its motto as #TelesDomination.
In a bid to further that ambitious agenda, the company has inked a deal for a new office in Pacific Palisades, co-president Sharran Srivatsaa told The Real Deal. The location will broaden the firm’s footprint in L.A. County, where it already operates offices in Brentwood, Venice, Playa del Rey, Palos Verdes and Manhattan Beach.
The 1,100-square-foot office, at 15415 W. Sunset Boulevard at the intersection of Sunset and Temescal Canyon Road, will be the base for 15 agents.
“Expanding our Southern California footprint has been Teles’ vision for some time, and the addition of this office in the Pacific Palisades—along with our newly minted offices in Palm Springs, Manhattan Beach and San Diego that launched earlier this year—is bringing that dream to fruition,” Srivatsaa said.
Teles is just the latest brokerage to plant a flag in Pacific Palisades, where companies such as Sotheby’s International Realty and Coldwell Banker have long operated offices.
Teles founder Peter Hernandez recently told TRD that he was still confident in the market fundamentals across L.A. County, despite evidence of a slowdown in luxury sales.
“I expect that properties will appreciate next year, somewhere in the 2 to 6 percent range,” he said. “I think the biggest character defect of the industry as a whole is that people don’t realize that rates will go up someday. Now is the time to buy and sell property.”