Ares, Hines Launch 809K-SF Parkside Commerce Center with Q4 2027 Delivery
ARES•Ares Real Estate fund and Hines have started construction on Parkside Commerce Center, a four-building, 809,141-square-foot Class-A industrial complex adjacent to RTP, with Phase I’s 521,548 sq ft due Q4 2027. Phase II adds 287,593 sq ft across two 32-foot clear height facilities.
1. Project Overview
Ares Real Estate fund and Hines have commenced construction on Parkside Commerce Center, a premier Class-A industrial development totaling 809,141 square feet. The four-building campus sits on Silicon Drive in Durham, North Carolina, directly adjacent to Research Triangle Park, offering seamless access to major highways I-40, I-540, Hwy 147 and the I-85 corridor.
2. Phase I Specifications
Phase I will deliver two rear-load facilities totaling 521,548 square feet in Q4 2027. Building 1 at 4360 Silicon Drive spans 237,824 sq ft with 63 trailer stalls, while Building 2 at 4340 Silicon Drive covers 283,724 sq ft with 63 trailer stalls and features 36-foot clear heights.
3. Phase II Specifications
Phase II will add two rear-load buildings: 4300 Silicon Drive at 172,289 sq ft and 4320 Silicon Drive at 115,304 sq ft. Both facilities will offer 32-foot clear heights to accommodate advanced manufacturing, biomanufacturing, warehousing, distribution and e-commerce users.
4. Strategic Impact
Co-ownership by Ares and Hines taps into a submarket with near-historic low Class-A vacancy rates in the Raleigh-Durham region. The development’s scalable design and prime RTP location are poised to generate steady leasing demand and enhance Ares’s industrial portfolio returns.
