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Vella Group Acquires Office Building In Hawthorne For $60.8M

12515-12519 Cerise Avenue
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This Office property located in CA was sold for $60,782,000 over 2 years ago. The brokers of the deal were Kevin Foley, Todd Tydlaska, Anthony DeLorenzo, Conor Halloran, David (Dave) Wilson, and Brad McCoy

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.

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Deals
  • Location
    12515 Cerise Avenue, Hawthorne, CA 90250, USA12515 Cerise Avenue, Hawthorne, CA 90250, USA
  • Sale Price
    $60,782,000$60,782,000
    $495 PPSF$495 PPSF
  • Area
    122,760 SF122,760 SF
  • Asset Type
    OfficeOffice
  • Parties
    6 Brokers, 2 Agencies6 Brokers, 2 Agencies

Agents

Kevin Foley

Kevin Foley

Deals14
Sold$252M

Todd Tydlaska

Todd Tydlaska

Deals14
Financed$750.4M

Brad McCoy

Brad McCoy

Deals40
Sold$612.6M

Anthony DeLorenzo

Anthony DeLorenzo

Deals60
Sold$1B

Agencies

CBRE

CBRE

Agency
Deals4229
Volume$184.3B

Lee & Associates

Lee & Associates

Agency
Deals974
Volume$10B

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Deal Summary

SALE IMAGE: Brad McCoy, David Wilson, Conor Halloran & Zach Vella DATE: 12/02/2021 ADDRESS: 12515-12519 Cerise Ave. MARKET: Hawthorne ASSET TYPE: Office SELLER: Vella Group - Zach Vella (@ZachVella) BUYER’S REP: Brad McCoy (@BradfordMcCoy), Conor Halloran (@Conor__Patrick) & David Wilson (@CreativeOffice365) - Lee & Associates SELLER’S REP: Kevin Foley (@KPFoley) & Todd Tydlaska - CBRE (@CBRE) SALE PRICE: $60,782,000 SF: 61,380 ~ PPSF: $990 NOTE FROM BROKER: Lee & Associates originally identified the off-market site for Vella Group & developed the initial design concept in 2017 (closing in 2018). This project accelerated a dramatic shift started by Tesla & SpaceX to what the Hawthorne market is today. We are excited to have been a part of this landmark deal for the area.

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12515-12519 Cerise Avenue

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