Announcing Retail Value-Add in San Clemente
Santa Monica, CA (July, 2022) — SR Watt Company’s 1.1 million-square-foot portfolio encompasses 363,000 square feet of retail space, 466 units of multifamily and 140,000 square feet of office space. One of SR Watt’s first value-add projects will be redevelopment of an under-utilized office site to a long-term ground lease with In-N-Out Burger for a 3,280-square-foot restaurant in the city of San Clemente, which will also be the popular restaurant’s first location in that city.
“This is our opportunity to continue the good work of the Watt family business and build upon a foundation that is synonymous with quality real estate. We plan to add value to these assets as well as look to build the portfolio, furthering the legacy created by the Watt family,” said Courtney Trujillo, president, SR Watt Company.
Looking ahead, SR Watt will seek to acquire multifamily properties as it looks to grow its portfolio, continuing the former strategy of Watt Properties. “We believe the multifamily sector aligns with the company’s core values of creating inspiring places and providing a quality living experience,” added Trujillo.