How She Manages A 6M Sq Ft Real Estate Portfolio | Nadine Watt (Watt Capital Partners)

**No Vacancy with Taylor Avakian: How She Manages A 6M Sq Ft Real Estate Portfolio | Nadine Watt (Watt Capital Partners)**

**Host:** Taylor Avakian

**Guest:** Nadine Watt

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[00:00] **Taylor Avakian:** Welcome back to No Vacancy, everyone! Today, I am absolutely thrilled to have a true titan of Los Angeles commercial real estate joining us, Nadine Watt, CEO of Watt Capital Partners. Nadine, thank you so much for being here. It's an honor to have you.

[00:15] **Nadine Watt:** Taylor, it's my pleasure. I'm excited for our conversation.

[00:20] **Taylor Avakian:** We're going to dive deep into so many fascinating aspects of your career and Watt Capital Partners. You manage an incredible 6 million square foot portfolio, which is just astounding. But before we get into the current market and your strategies, I'd love to start with the incredible history of Watt Capital Partners. It's a multi-generational family dynasty, and it really began with your grandfather, Ray Watt. Can you take us back to those early days?

[00:45] **Nadine Watt:** Absolutely. It's a story I'm incredibly proud of. My grandfather, Ray Watt, started the company right after World War II. He was building homes for returning veterans, focusing on affordable, quality housing. He was a true visionary, not just building houses, but pioneering master-planned communities, even timeshares, long before they were mainstream. He had this incredible foresight to see what people needed and how to deliver it on a large scale.

[01:15] **Taylor Avakian:** That's remarkable, especially thinking about the post-war boom and the demand for housing. So, from those initial homes, how did the company evolve into the diverse portfolio it holds today?

[01:28] **Nadine Watt:** Well, my father, Scott Watt, joined the business, and they really expanded. We moved into developing shopping centers, and then, as the landscape of LA changed, we made a significant shift into commercial properties. This led to some of our most iconic developments, including Watt Plaza in Century City. It was a natural evolution, always looking for opportunities where we could add value and build lasting assets.

[02:00] **Taylor Avakian:** And Watt Plaza is truly a landmark. It's nearly a million square feet of office space in those distinctive twin towers. Can you tell us about the vision behind that project and its significance for Watt Capital Partners?

[02:15] **Nadine Watt:** Watt Plaza was a huge undertaking. It was built in the early 1980s, a time of significant growth for Century City. My father and grandfather saw the potential for a premier office complex in what was rapidly becoming a major business hub. It was designed to be state-of-the-art for its time, and it really cemented our presence in the commercial office market. It's a project that still defines a part of our portfolio and our legacy.

[02:45] **Taylor Avakian:** It certainly does. Now, fast forward to your leadership. You became CEO, a third-generation leader, and you've navigated some incredibly challenging times, especially recently. What was your initial focus when you took the helm, and how did you prepare the company for the future?

[03:05] **Nadine Watt:** When I became CEO, my focus was really on restructuring and ensuring we were agile and forward-thinking. We had a diverse portfolio, and I wanted to refine our development strategy, focusing on areas where we could truly excel. One of the biggest initiatives, even pre-pandemic, was to invest heavily in our existing assets, particularly Watt Plaza, to ensure they remained competitive and attractive to modern tenants. We knew we couldn't rest on our laurels.

[03:35] **Taylor Avakian:** Speaking of Watt Plaza, you undertook a massive, multi-million dollar renovation – over $20 million, if I recall correctly. This wasn't just a cosmetic refresh; it was a deep dive into sustainability and modernizing the infrastructure. Can you elaborate on that project, especially the LEED Platinum certification?