Mon04272015

Business & Real Estate

Investors on edge as lows persist

As we move into February, investors are on edge as stocks return to their mid-December lows.

The first month of the year proved to be challenging for investors, with high volatility and negative returns influencing the major market indices. The new year is shaping up to be quite different from the index records enjoyed in 2013 and 2014.

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Transactions

Los Altos

660 Giralda Drive, Black Trust to H. Zhong for $2,600,000

1890 Newcastle Drive, Frey Trust to W. & W. Chen for $2,050,000

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Wine & beer lounge coming to First Street


Ellie Van Houtte/Town Crier
The new wine and beer lounge Honcho heads to First Street, with a spring opening anticipated.

A cocktail lounge proposed for First Street has cleared its first hurdle – the Los Altos Planning and Transportation Commission.

The commission voted unanimously Jan. 15 to approve a conditional-use permit for Honcho, a beer and wine lounge slated for 235 First St., the former home of Land of Nod. The permit was necessary, according to a city staff report, because the proposed business is in an area zoned primarily for retail use.

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Market still on track for weekly gains

After four days of nice gains last week, the bulls struggled to make it five – without success. Even with a loss Friday, the major indexes were still on track for solid weekly gains.

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Transactions

Los Altos

1621 Kingston Court, Li Trust to Y. Kim for $2,250,000

624 Loyola Drive, K. Washington to P. He for $2,398,500

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Cassidy Turley, DTZ plan to combine


Ellie Van Houtte/Town Crier
Cassidy Turley, which has offices at 339 S. San Antonio Road, is combining with DTZ following its recent acquisition.

Commercial real estate services companies DTZ and Cassidy Turley have joined forces to operate as a single global firm.

The announcement of the merger plans came last week following the completion of the acquisition of Cassidy Turley by a private equity investment consortium backed by TPG Capital, PAG Asia Capital and Ontario Teachers’ Pension Plan. The consortium acquired DTZ last November.

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S&P 500 takes rare dip last week

U.S. stocks dropped for the fifth straight day Thursday, with declines attributed to a different reason each day. Wall Street braced for further losses Friday.

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