Michael Arougheti Of Ares Real Estate Acquires Industrial Properties In Fremont And Hayward For $44.6M

The transaction involves two industrial properties located in the East Bay market. The first property at 2710 Lakeview Court in Fremont spans 81,700 square feet, selling for $28.8 million. The second property at 30803 San Clemente Street in Hayward covers 64,100 square feet, with a sale price of $15.8 million, leading to a combined sale price of $44.6 million for both assets.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $44,600,000
• Address: 2710 Lakeview Court, Fremont
• Address: 30803 San Clemente Street, Hayward
• Square Footage: 145,800
• Price Per Square Foot: $306
• Buyer: Michael Arougheti
• Buyer’s Company: Ares Real Estate

Ares Management was involved in the acquisition of both properties, which are currently leased to tenants including Velo3D and Techstyles Sportswear. The sale reflects the robust activity within the East Bay industrial market, where both buildings sold for amounts exceeding their assessed values.