Development of Parkside Commerce Center, a New Premier Class-A Industrial Facility, Launches in RTP
Ares (NYSE:ARES), alongside Hines, has started construction on Parkside Commerce Center, a four-building, 809,141-square-foot Class-A industrial development on Silicon Drive in Durham, North Carolina, adjacent to Research Triangle Park.
Rhea-AI Summary
Ares (NYSE:ARES), alongside Hines, has started construction on Parkside Commerce Center, a four-building, 809,141-square-foot Class-A industrial development on Silicon Drive in Durham, North Carolina, adjacent to Research Triangle Park.
The project will be delivered in two phases, with Phase I totaling 521,548 square feet scheduled for completion in Q4 2027.
Positive
- 809,141-square-foot Class-A industrial project co-owned with Hines near RTP
- Phase I delivering 521,548 square feet of modern 36-foot clear-height space by Q4 2027
- Location offers immediate access to I-40, I-540, Hwy 147 and the I-85 corridor
- Targets advanced manufacturing, biomanufacturing, warehousing, distribution and e-commerce occupiers in RDU market
Details
News Market Reaction – ARES
On Jun 15, the day this news came out, ARES closed 0.34% above the previous close.
Data tracked by StockTitan Argus for the Jun 15 session.
Key Figures
- Total project size
- 809,141 square feet
- Total Class-A industrial development at Parkside Commerce Center
- Phase I size
- 521,548 square feet
- Two rear load facilities in Phase I, Q4 2027 delivery
- Building 1 size
- 237,824 SF
- 4360 Silicon Drive, rear load facility with trailer stalls
- Building 2 size
- 283,724 SF
- 4340 Silicon Drive, rear load facility with trailer stalls
- Building 3 size
- 172,289 SF
- 4300 Silicon Drive, Phase II building
- Building 4 size
- 115,304 SF
- 4320 Silicon Drive, Phase II building
- Phase I clear height
- 36-foot clear heights
- Rear load facilities in Phase I
- Phase II clear height
- 32-foot clear heights
- Both Phase II buildings
Historical Context
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Inaugural $1B commercial paper program backed by large revolver.
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Launch of Speed Bay industrial platform with major capital commitments.
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CEO presentation at Morgan Stanley US Financials Conference.
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Co-President presenting at Goldman Sachs European Financials Conference.
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Increases and extended maturities for revolving credit facilities.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
The project represents one of the premier new industrial developments in the
Strategically positioned with immediate access to I-40, I-540, Hwy 147 and the I-85 corridor, the development will be delivered in two phases.
Phase I, scheduled for delivery in Q4 2027, will include two rear load facilities totaling 521,548 square feet with 36-foot clear heights:
- 4360 Silicon Drive (Building 1) – 237,824 SF with 63 trailer stalls
- 4340 Silicon Drive (Building 2) – 283,724 SF with 63 trailer stalls
Phase II will include:
- 4300 Silicon Drive (Building 3) – 172,289 SF
- 4320 Silicon Drive (Building 4) – 115,304 SF
Both Phase II buildings will feature 32-foot clear heights.
"We're thrilled to partner with Hines and Ares as the marketing and leasing team to bring this best-in-class industrial development to market," said Jeff Stephens, SIOR, Partner at Foundry Commercial. "The RTP/I-40 submarket's Class A vacancy rate has remained near historic lows in recent years, and Parkside Commerce Center will provide much-needed options that offer a rare combination of premier location, functionality and scalability that align with the needs of occupiers across the RDU market."
Hines and Ares co-own the project. Foundry Commercial has been retained as the exclusive leasing team for the project.
For leasing information, please contact Jeff Stephens, SIOR at jeff.stephens@foundrycommercial.com, Jackson Rives at jackson.rives@foundrycommercial.com or Jordan Rives at jordan.rives@foundrycommercial.com.
About Foundry Commercial:
Foundry Commercial is a full-service commercial real estate services and investment company operating across office, industrial, retail, multi-family, healthcare, religious, and not-for-profit asset classes and clients. Focused on the Sun Belt markets, Foundry is sustained by more than 5,000 associates operating from 12 markets, providing leasing and management on more than 77 million square feet and approximately 5,400 seniors housing units, typically executing over
About Hines:
Hines is a leading global real estate investment manager. We own and operate
¹Includes both the global Hines organization and RIA AUM as of December 31, 2025.
About Ares Management Corporation:
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2026, Ares Management Corporation's global platform had over
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SOURCE Foundry Commercial
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