Michael Arougheti Of Ares Management Acquires 248,000 Square Foot Industrial Property In Tacoma For $55M

The property involved in this transaction is a 248,000-square-foot industrial asset located at 1950 South State Street in Tacoma, WA. The sale price for this property was $55 million, translating to a price per square foot of $222.77.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $55,000,000
• Buyer: Michael Arougheti - Ares Management
• Seller: Davis Property Investment
• Square Footage: 248,000
• Price Per Square Foot: $222.77
• Date of Sale: 08/14/2026

Ares Management, represented by Michael Arougheti, acquired the property from Davis Property Investment, furthering their portfolio in the industrial sector.