December 29, 2006
San Diego, California/December 29, 2006 — Watt Developers, LLC has completed the purchase of 178 town home lots from Orcutt Associates, LLC in the City of San Luis Obispo, California.
The property located on the south side of Orcutt Road, east of North Broad Street was acquired and entitled by Orcutt Associates, LLC. Orcutt Associates, LLC, lead by Principal James Murar, specializes in the acquisition and development of residential communities throughout the State of California.
Watt Developers, LLC headed by Division President Howard Press, broke ground on the grading during escrow. The project, Laurel Creek, will consist of 178 two and three story town homes ranging in size from 951 square feet to 1,735 square feet with prices starting in the high $400,000's. Due to the supply restricted nature of the San Luis Obispo submarket, Watt Developers pounced on the opportunity to pursue this "grading permit" ready project.
Mr. Graham G. Weiss represented both the Buyer and the Seller in this transaction.
GW Realty Co. specializes in real estate brokerage and valuation consulting with an emphasis in residential land throughout Southern California and has completed over $2 billion in transactions since its formation in 1993. A non-traditional real estate firm, GW Realty Co. concentrates their efforts on key relationships with a select group of clients and properties.
For additional information about this transaction or other residential development opportunities please contact Graham G. Weiss at (858) 622-7171 or via email at graham@dirtdeals.com.