Ares Management Acquires Park 88 Logistics Center In Aurora For $58.2 Million

The property involved in this transaction is located at 400-410 Smoketree Plaza in Aurora. The asset type is industrial, with a total square footage of 429,623. The sale price for this fully leased property was $58,200,000, resulting in a price per square foot of $135, which is above the local average.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $58,200,000
• Square Footage: 429,623
• Address: 400-410 Smoketree Plaza
• Market: Aurora
• Buyer: Michael Arougheti - Ares Management
• Seller: Neil Doyle - TradeLane Properties; Jeffrey Phelan - Phelan Development
• Brokers: Tyler Ziebel, Jeff Devine & Steve Disse - Colliers
• Price per Square Foot: $135

Michael Arougheti represents Ares Management in the purchase of the asset, while Neil Doyle and Jeffrey Phelan represent TradeLane Properties and Phelan Development respectively in the sale. The transaction was brokered by Tyler Ziebel, Jeff Devine, and Steve Disse from Colliers.