East Bay tech and industrial buildings land buyer

FREMONT — Two East Bay tech and industrial buildings were purchased by a real estate and investment firm in deals that show there is still some confidence in Bay Area commercial sites despite a difficult market.

Ares Management, acting through an affiliate, paid a combined $44.6 million for the buildings, according to documents filed on Feb. 17 with the Alameda County Recorder’s Office.

An 81,700-square-foot building at 2710 Lakeview Ct. in Fremont was bought for $28.8 million, county real estate records show. The other, a 64,100-square-foot building at 30803 San Clemente St. in Hayward, was acquired for $15.8 million, according to public files.

Velo3D, a 3-D printing company, has its headquarters in the Fremont building and is the property’s primary tenant, according to Securities and Exchange Commission regulatory filings.

Techstyles Sportswear, Best Label Co., and Spectrum Label are the primary tenants in the Hayward building, according to Google Maps.

Both buildings were bought at above their most recently reported assessed values, in a sign that the properties are showing price appreciation. Assessed values are only one of multiple metrics that can be used to determine property price trends.

The Fremont building fetched a price that was 55.7% over its assessed value of $18.5 million in January 2025. The Hayward building produced a price that was 2.6% over its latest assessed value of $15.4 million.