October 1, 2004
San Diego, CA — Watt Developers, LLC has acquired an 8.5 acres multi-family site on Indian Hill Blvd in Northern area of Pomona, California.
The site a former commercial center anchored by Big Lots, Burger King and American Tire will yield 166 row townhomes ranging in size from 1,385 to 1,647 with pricing anticipated to start in the high $200,000's.
Watt Developers, LLC the Buyer of this transaction is a national renowned Home Builder/Developer based in Santa Monica, California. Watt Developers, LLC and its other entities has developed more than 40,000 homes throughout the Western United States.
The Seller, NBD Development, based out of Manhattan Beach, California specializes in infill entitlement and development.
GW Realty Co. specializes in real estate brokerage and valuation consulting with an emphasis in residential land throughout Southern California, and has over $1.5 billion in transactions since 1993. A non-traditional real estate firm, GW Realty Co. concentrates their efforts on key relationships with a select group of clients and properties. Due to the decreasing supply of available development properties, GW Realty Co. is continually searching for and finding development opportunities 'flying below the radar'.
Graham G. Weiss of GW Realty Co. represented both parties in this transaction. Mr. Weiss focuses on infill residential opportunities throughout Coastal Southern California. For additional information about this transaction or other residential development opportunities please contact Graham G. Weiss at (858) 622-7171 or via email graham@dirtdeals.com.