SR Watt Company Launches in Southern California; New Entity Created from Reorganization of Watt Companies
Santa Monica, CA (July 7, 2022) – SR Watt Company, a newly-formed real estate management firm, has launched in Southern California with a portfolio of neighborhood retail, multifamily and office properties in California and Oregon. The new entity was formed out of the reorganization of Watt Companies.
SR Watt will operate and manage retail and industrial properties as well as seek out value-add strategies and other real estate opportunities in multifamily and retail in core West Coast markets.
The new entity’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 the firm’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.
Prior to forming SR Watt, Trujillo served as vice president for Watt Properties, a division of Watt Companies, where she managed a diverse portfolio of retail, office and industrial properties. Most notably during her career at Watt is the execution and expansion of the company’s multifamily holdings from 150 to over 1,500 units including value and core properties. Her diverse experience includes work with companies such as Burnham Pacific Properties, Center Trust Properties, Summit Commercial and Red Mountain Retail Group.
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.