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.
Amazon acquired Ring — an electronic home security and doorbell maker — for around $1 billion in 2018. Vella, who is CEO of Vella Group and has developed properties in Miami and New York, paid $13 million for 12515 Cerise the same year, records show.
He obtained $42 million in construction financing from Pacific Western Bank and M&T Bank and landed another $45 million loan on the property from Rialto Capital Management in 2020.
CBRE is shopping the building. An asking price was not provided.
Vella said he expects to eventually put some of the firm’s other properties in South Bay on the market. He is also working on other developments in Southern California, including a 2.6-million-square-foot, mixed-use complex in Los Angeles’ Arts District, with partners London & Regional Properties and the Gallo family, and a 450,000-square-foot office campus in El Segundo.
The post Zach Vella puts Amazon’s Ring HQ in Hawthorne up for sale appeared first on The Real Deal Los Angeles.
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