Parkwood Crossing Amenities Attract New Tenants and Drive Renewals
Strategic Capital Partners Announces Faegre Baker Daniels Renewal and New Selective Insurance Lease
April 1, 2019 – Indianapolis: The North Meridian corridor is among the most desirable Indianapolis office locations and Parkwood Crossing, owned by joint venture partners Strategic Capital Partners, LLC (SCP) and Rubenstein Partners, L.P. (RP), has evolved to meet changing tenant preferences and its list of high profile tenants continues to grow.
SCP is pleased to announce that international law firm Faegre Baker Daniels (FaegreBD), a tenant since 2000, renewed its 34,660 square foot office at Six Parkwood and Selective Insurance Group, Inc. (Selective) moved its 120-person Heartland Regional Office from 116th and Meridian Streets to a 27,173 square foot office in the Nine Parkwood building.
Parkwood Crossing is a 1.2 million square foot office complex located at 96th Street and North Meridian. The 8-building complex benefits from easy access to I-465 and proximity to the demographically-desirable communities of Carmel, Zionsville and Fishers that are rich with shopping, dining and entertainment offerings. In addition, the drive to downtown Indianapolis is less than 30 minutes and the Indianapolis International Airport is an easy 35-minute trip.
The newly constructed amenity center (the PARC) at Parkwood is one-of-a-kind in the marketplace, according to Sr. Vice President Agency Leasing, Traci Kapsalis, who leads the JLL team representing ownership. “Establishing a centrally-located, modernized hub with an upscale café, meeting spaces, top-of-the-line fitness center and outdoor recreation areas has helped drive leasing activity to Parkwood. Companies see this as an enormous benefit and an extension of their efforts in the competitive landscape for talent attraction and retention,” she said.
Kapsalis, Adam Broderick and Brittany Shuler represented the Landlord in both transactions.
FaegreBD is one of the 75 largest law firms headquartered in the U.S. Their locations span coast to coast, cover the heartland, and extend to the U.K. and China – with regional and national coordinating capabilities across hundreds of jurisdictions. FaegreBD told Parkwood officials the Landlord’s commitment to ongoing improvements impacted their decision to maintain the 92-person northside office at Parkwood. JLL Senior Vice President, Mike Corr, represented FaegreBD.
Parkwood’s location and significant property enhancements also influenced Selective. The New Jersey-based Selective is a holding company for 10 property and casualty insurance companies that offer standard and specialty insurance for commercial and personal risks, and flood insurance underwritten by the National Flood Insurance Program. Cushman & Wakefield Executive Managing Director, John
Crisp, represented Selective.
SCP and RP acquired Parkwood Crossing in 2016. Ownership’s commitment to an ongoing capital plan includes building-specific system upgrades, the addition of interior and exterior lounge areas, and campus enhancements all tenants can enjoy.
SCP VP of Leasing, Stephen Lindley, says Parkwood’s ownership is investing in these significant capital improvements and amenities to further the property’s position as the best-in-class Indianapolis office park. “We’re thrilled to know high-caliber firms like Selective and FaegreBD are acknowledging our investments by making long-term commitments to their Parkwood offices,” Lindley said.