VG News

Media coverage, press relations, on-going real estate development activity by the company, and issues of importance to the communities we partner with through our work, is given voice in this NEWS section.

August 25, 2022

Published by: The Real Deal / South Florida

Zangrillo, Zach Vella and Miami Beach’s Arc PE paid $21M to buy out previous majority partner Zerby Investments

Vella, CEO of Vella Group who is also a partner in Zangrillo’s Magic City Innovation District master-planned community project in Little Haiti, is taking the lead on the Miami River development, Jain said via text.

May 26, 2022

Published by: The Registry

An industrial building in Carson, Calif. totaling more than 85,000 square feet has recently been sold, adding to a number of industrial transactions recently taking place across the Greater Los Angeles area. Public records show that the property was purchased by The Southwest Regional Council of Carpenters for $46 million, or about $540 per square foot. The seller in the transaction was Vella Group, a Los Angeles-based investor and developer.

The property is located at 1010 Sandhill Avenue, in the Carson Industrial Park. According to a landing page on Vella Group’s website, the property consists of a two-story building totaling 85,259 square feet. Property records show that the building was last sold to Vella Group for $17.5 million in 2020.

May 25, 2022

Published by: The Real Deal / Los Angeles

A carpenters union has bought an industrial property in Carson, with plans to open a training center for its members, The Real Deal has learned.

The Southwest Regional Council of Carpenters paid $46 million––or about $540 per square foot––for the property at 1010 Sandhill Avenue, according to property records filed with Los Angeles County.

April 11, 2022

Published by: Construction Review Online

Magic City Innovation District is a large multi-building transit-oriented mixed-use mega-development proposed for Little Haiti in Miami. The project consists of 17 pieces of property across numerous blocks, largely between Northeast 2nd Avenue and Northeast 4th Court, with Northeast 59th Terrace serving as the southern-most cross street and Northeast 64th Terrace serving as the northern-most roadway.

April 8, 2022

Published by: URBANIZE Los Angeles

Four years after it was approved, a plan to build a West Hollywood outpost of London’s Arts Club on the Sunset Strip is moving forward – with tweaks.

The project approved by the West Hollywood Planning Commission in 2018 had called for the construction of a nine-story, 120,000-square-foot building at 8920 Sunset Boulevard – formerly the site of a Hustler Store. At the time, plans called for a member’s club accompanied by office space, ground-floor commercial uses, and a public art gallery, seated atop five levels of automated basement parking with a maximum capacity of 351 vehicles.

March 16, 2022

Published by: Wall Street Journal

Designed by California megamansion architect Paul McClean, the six-bedroom Bel-Air mansion includes a tri-level waterfall feature that flows into a reflecting pool, a swimming pool, a large outdoor deck, a gym and wellness area, a 20-person theater and a temperature-controlled wine room, according to the listing. The property was listed for $41 million.

March 2, 2022

Published by: The Real Deal / Los Angeles

Commercial and residential developer Vella Group has sold a newly-built mansion in Bel Air in one of the most expensive home sales in Los Angeles so far this year.

December 31, 2021

Published by: URBANIZE Los Angeles

To close out the year, the Los Angeles Department of City Planning has published a draft environmental impact report for 670 Mesquit, Vella Group’s proposed mixed-use, high-rise complex along the east bank of the L.A. River.

December 7, 2021

Published by: The Real Deal / Los Angeles

Dec. 7, 2021, 12:25 p.m.: The headquarters of Amazon’s home security arm Ring in Hawthorne has sold for around $65 million — more than $1,000 per square foot, The Real Deal has learned.

It’s a high-water mark for the local office market lately. It matches a top price in Los Angeles County for the third quarter, which was Excelsior Partners’ sale a 52,000-square-foot office property in next-door El Segundo for $52 million.

Los Angeles-based IDS Real Estate bought the 62,000-square-foot office property at 12515 Cerise Avenue, which was built by developer Zach Vella, according to CBRE’s Kevin Foley, who brokered the deal.

December 2, 2021

Published by: Miami Today

The very first building proposed to launch a major mixed-use project destined to change Little Haiti gained the support of the City of Miami’s influential Urban Development Review Board.

At its November meeting the board unanimously recommended approval of what’s identified as Parcel 11, part of the Magic City Innovation District – Little Haiti SAP (Special Area Plan).