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.
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).
November 22, 2021
Published by: BuzzBuzzHome
670 Mesquit Condos is a new condo development by Vella Group currently in preconstruction at 670 Mesquit Street, Los Angeles. The development is scheduled for completion in 2022. 670 Mesquit Condos has a total of 308 units.
November 19, 2021
Published by: InsideHook
As Los Angeles (and all of California) has gone beyond the color-tiered system of ranking COVID-19 levels and has returned to allowing businesses, venues, restaurants and bars to open without restrictions, private social clubs — the hottest places to be before the pandemic hit — are once again emerging. Some are a bit battered, others have succumbed and closed permanently, a few have thrived and one has sprung to life just as vaccinations open our city back up.
September 14, 2021
Published by: Benzinga
NEW YORK, Sept. 13, 2021 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced it has provided a $79.1 million loan to Vella Group, a Los Angeles-based national development firm focused on creative spaces, hotels, and high-end retail shops, collateralized by four light industrial and flexible office properties and one undeveloped site in Hawthorne and Carson, California.
September 14, 2021
Published by: Commercial Observer
The properties and the undeveloped parcel are all located in Hawthorne and Carson, Calif., within the Los Angeles metropolitan area. The four developed assets comprise a combined 206,333 rentable square feet and are currently 95 percent leased out, according to MRC.
The one asset in Carson — a neighborhood straddled by Compton to the north and Long Beach to the south — is a light industrial site at 1010 Sandhill Avenue that is completely leased out to energy infrastructure firm Chanje Energy.
The three other built properties are in Hawthorne. There is 12536 Chadron Avenue, a light industrial and flex property that’s occupied by Venturi Astrolab, an aerospace engineering and manufacturing firm and division of Venturi Automobiles; 13100 Yukon Avenue, a flex industrial property that is currently leased to a Nerd Street Gamers esports training center, aerospace wireless laser communications manufacturer Mynaric Inc., and sustainable mens and womens clothing brand For Days; and 13040 Cerise Avenue, a one-story complex that is leased out to a mix of artists and musicians, according to MRC.
Vella Group’s development site at 13007 Yukon Avenue in Hawthorne was the last piece of the portfolio, and it will eventually host a roughly 50,000-square-foot light industrial space, according to MRC. The firm is aiming at completing the property in the latter half of 2023.
September 13, 2021
Published by: KULR-TV
NEW YORK, Sept. 13, 2021 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced it has provided a $79.1 million loan to Vella Group, a Los Angeles-based national development firm focused on creative spaces, hotels, and high-end retail shops, collateralized by four light industrial and flexible office properties and one undeveloped site in Hawthorne and Carson, California. The loan will be used to refinance the portfolio, pay closing costs, fund leasing costs, and begin construction of the development site.
August 17, 2021
Published by: Florida Catholic / Miami Archdiocese
Church joins public school partners to open community computer lab in Little Haiti’s Magic City Innovation District.
Returning to the community where he once served as a parish priest, Archbishop Thomas Wenski recently blessed a new community computer lab and technology program at Notre Dame d’Haiti Mission.
Adult and youth computer literacy training will join language literacy programming at the church at a time when developers are hoping to create their Magic City Innovation District in Little Haiti, a future office facility and residential space to support technology and investment jobs moving into the region.
August 15, 2021
Published by: Newsbreak
Zach Vella puts Amazon’s Ring HQ in Hawthorne up for sale. The Hawthorne headquarters of Amazon’s home security arm Ring is hitting the market. Developer Zach Vella is selling the 62,000-square-foot office property at 12515 Cerise Ave., which is fully leased to Ring for 10 years, according to marketing materials seen by The Real Deal.