Ares Buys Fremont, Hayward Industrial Buildings

Ares Management is the new owner of two tech and industrial buildings in the East Bay.

The Los Angeles-based real estate and investment firm, acting through an affiliate, spent a combined $44.6 million for the properties in Fremont and Hayward, the Mercury News reported.

In Fremont, Ares picked up an 81,700-square-foot building at 2710 Lakeview Court for $28.8 million. To the north in Hayward, the firm purchased a 64,100-square-foot building at 30803 San Clemente Street for $15.8 million, per Alameda County real estate records.

The Fremont building’s primary tenant is 3D printing company Velo3D, which has its headquarters at the Lakeview Court property, according to U.S. Securities and Exchange Commission regulatory filings cited by the Mercury News. At the Hayward hub, Techstyles Sportswear and label printing companies Best Label Company and Spectrum Label are the primary tenants.

Both buildings traded hands for more than their most recently reported assessed values, signaling some price appreciation in the East Bay market. The Fremont building sold for 55.7 percent more than its $18.5 million assessed value recorded in January 2025. The Hayward building fetched a price that was 2.6 percent higher than its assessed value of $15.4 million.

Industrial properties in Fremont have been selling at a fast and furious pace so far this year.

Last month, Prologis sold a 26-acre industrial property at 41777 Boyce Road to an unidentified buyer for $70.1 million. A few days later, Morgan Stanley Investment Management purchased a two-building, 290,000-square-foot manufacturing property at 44100 and 44200 Osgood Road for $110.3 million. The seller was New York-based real estate investor Angelo Gordon, which bought the buildings from data storage company Western Digital Corporation in 2019 for $117.1 million.

Hayward is similarly emerging as an industrial and manufacturing hub in the East Bay. Last year, Amazon-owned autonomous vehicle startup Zoox moved forward with plans to increase production of its robotaxis at a two-story, 219,000-square-foot plant at 25810 Clawiter Road.

— Chris Malone Méndez