Ares Management Acquires Lockport Industrial Property For $67.5M

The industrial property located at 16230-16342 W. 163rd St in Lockport has been sold in a transaction with a sale price of $67,500,000. The property spans 612,000 square feet, resulting in a price per square foot of $110. The buyer in this transaction is Ares Management Corp, represented by Michael Arougheti. The seller is High Street Logistics Properties. The deal was facilitated by brokers James Carpenter, Mike Tenteris, and Adam Tyler from Cushman & Wakefield.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $67,500,000
• Address: 16230-16342 W. 163rd St
• Market: Lockport

Michael Arougheti, representing Ares Management Corp, played a pivotal role as the buyer in this industrial property transaction in Lockport. High Street Logistics Properties acted as the seller in this deal. The transaction was successfully facilitated by brokers James Carpenter, Mike Tenteris, and Adam Tyler from Cushman & Wakefield.