Vella Group Acquires Office Building In Hawthorne For $60.8M

The office property located at 12515-12519 Cerise Ave. in Hawthorne has been sold for a total price of $60,782,000. The property spans 61,380 square feet, resulting in a price per square foot of $990. The sale was facilitated by Zach Vella of Vella Group, who acted as the seller. The buyer's representatives in this transaction were Brad McCoy, Conor Halloran, and David Wilson from Lee & Associates. On the other hand, Kevin Foley and Todd Tydlaska from CBRE acted as the seller's representatives.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $60,782,000
• Address: 12515-12519 Cerise Ave.
• Market: Hawthorne
• Buyer's Rep: Brad McCoy, Conor Halloran, and David Wilson - Lee & Associates
• Seller's Rep: Kevin Foley and Todd Tydlaska - CBRE
• Sale Price per Square Foot: $990

It is worth noting that Lee & Associates played a significant role in this deal. They were responsible for identifying the off-market site for Vella Group and developing the initial design concept in 2017, which eventually led to the closing of the deal in 2018. This transaction has contributed to the ongoing transformation of the Hawthorne market, following the footsteps of Tesla and SpaceX. Lee & Associates is thrilled to have been a part of this landmark deal for the area.