Corcoran Icon Properties, a franchisee of Corcoran Group, LLC is excited to announce the opening of their newest office location in the highly acclaimed Palo Alto area. Led by industry veteran Benyam Mulugeta as Managing Broker and longtime Corcoran Icon Properties Sales Manager and Partner Susan LaRagione, the new office will cater to the brokerage’s existing agents who serve the Silicon Valley area and any newly recruited agents from the immediate Palo Alto area.

The newly established office sits within the centrally located Town & Country Village, which houses various amenities for the surrounding high-end residential neighborhoods and is just across the street from Stanford University. The formal address for the new office is 855 El Camino Real, Building 5 – Suite 311, Palo Alto, California 94301.

“Our new office in Palo Alto represents an exciting step forward for Corcoran Icon Properties,” said Mulugeta. “This expansion allows us to better serve local consumers by providing them with expert market insights and a dedicated team focused on Palo Alto. For our existing agents, this new location offers state-of-the-art resources and a collaborative environment that will help them thrive in one of the most luxurious markets in the country.”

“The opening of our new Palo Alto office is incredibly valuable for both our team and the community,” said LaRagione. “There has been strong demand from our existing agents for a presence in Palo Alto, as it’s a key market for our clientele. We’re already seeing a lot of excitement from local agents who are eager to join Corcoran Icon Properties and take advantage of the innovative tools, top-tier support, and team-oriented culture we provide.”

Palo Alto is one of the nation’s most competitive and expensive real estate markets, driven by its location within Silicon Valley and the nearby presence of major technology company campuses like Google, Facebook, and Apple. Pricing for single family residences remains consistently high, with median prices often exceeding the $3 million dollar mark with the top-end of the market stretching into the tens of millions. Residential options within this coveted enclave range from historic standalone residences and sprawling contemporary estates to mid-century ranch-style homes, as well as a variety of luxury townhomes and convenient condominiums.

“The strength of our agents and the power of our brand are the steppingstones that have carried Corcoran Icon Properties through market headwinds and ultimately brought our expansion efforts into Palo Alto a reality,” said Steve Belluomini, President of Corcoran Icon Properties. “Opening an office in this competitive market is also possible due to our stellar local leadership in both Benyam and Susan, and I am excited to see our Palo Alto Office not only grow but also succeed.”

Today, Corcoran Icon Properties is comprised of approximately 900 agents across the greater Northern California marketplace with this newest Palo Alto office being their 24th physical office space. Recently, Corcoran Icon Properties ranked No. 8 by the San Francisco Business Times as one of the “Largest Bay Area Residential Real Estate Brokerages,” highlighting their strong presence across the entire Bay Area. Additionally, The Real Deal ranked them as the No. 5 brokerage in San Francisco, based on sales transactions priced at $200,000 or more, recorded by the San Francisco MLS between May 2023 and May 2024.

Since launching in February 2020, Corcoran’s Affiliate Network has grown steadily both domestically and internationally. Last year alone, Corcoran expanded with new domestic affiliates in Northern California, New Jersey, and Texas, and expanded internationally with Corcoran Magri Properties, based out of Lake Garda and Verona, Italy, as well as with Corcoran Horizon Realty, based out of Ontario, Canada. Most recently, Corcoran welcomed Corcoran Property Advisors in Boston, Massachusetts and Corcoran Prime, in Portland, Oregon.