Richard Cannon

Watson Land Co.

Age: 55

Specialty: Industrial Build-to-Suit Development

Recent deal: Development of 600,000 square feet of industrial space that will break ground this fall in the South Bay.

A 30-year real estate veteran, Cannon is CEO and president of Watson Land, one of the oldest and largest commercial development companies in L.A. The firm owns, leases and manages more than 9.6 million square feet of commercial buildings and multi-tenant business centers.

Calling 1997 a watershed year for the South Bay, Cannon said all the ingredients are in place for a significant resurgence in commercial real estate, including both the speculative and build-to-suit markets.

“It has been about nine years that’s a long hiatus since new office construction has begun. I believe that we’re at the beginning of a solid long-term growth cycle,” he said.

Adding to his optimism is the fact that Watson Land’s South Bay stronghold hammered so hard in the recession is participating in the growth cycle.

“We are about to sign two leases with significant international companies that are expanding,” he said. “Ground breaking is set for September of the five-building industrial center. What is important about this is that jobs are being brought back in to the South Bay.”

When not making deals, Cannon can be found hanging out on his boat, a tiara cruiser. A resident of Corona del Mar, Cannon keeps the cruiser docked close to his home, in the harbor at Newport Beach.

And if the water’s not right for cruising, then he jumps into various forms of physical exercise, just to stay fit and have some fun. Cannon adds, “I’m just your stay-around-the-home kinda guy when I’m not working.”

Julie Sable