Planning and design firm expands lease to 29,737 square feet and moves to Four Parkwood at office park in North Meridian/Carmel submarket
Rubenstein Partners, L.P. (including its affiliates, “Rubenstein”), a vertically integrated real estate investment adviser focused on value-added office property equity and debt opportunities, announced that tenant Kimley-Horn has agreed to a new lease renewal and expansion at the Parkwood Crossing development in Indianapolis.
Kimley-Horn, a planning and design consultancy firm, has agreed to a nearly 29,737-square-foot lease renewal, an expansion from its original 9,779-square-foot space. In addition, Kimley-Horn is also relocating to a new building at the Parkwood Crossing campus, moving to Four Parkwood from its previous location at One Parkwood. Rubenstein is completing a substantial capital improvement program at Four Parkwood, which includes a modernization of the lobby and other interior and exterior enhancements.
This also marks the second major move within the campus for long-term tenant Kimley-Horn as its original location was at Six Parkwood before transferring to a bigger space at One Parkwood that included additional expansions. This new location at Four Parkwood meets the current space needs for Kimley-Horn and Rubenstein is completing a substantial capital improvement program at the building, which includes a modernization of the lobby and other interior and exterior enhancements.
Parkwood Crossing is an eight-building, 1.2 million square foot office park located in the North Meridian/Carmel submarket of Indianapolis. Rubenstein acquired the development in 2016 and implemented a comprehensive renovation of the campus including the addition of a 14,000-square-foot amenity center overlooking a lake known as PARC, the Parkwood Amenity and Recreation Center.
“Tenant interest and retention in well-located Class-A suburban office campuses remains strong,” said Brian Simel with Rubenstein Partners. “We have invested heavily in Parkwood Crossing campus and have added significant value as evidenced by quality tenants like Kimley-Horn choosing to remain and expand their space.”
The state-of-the-art PARC facility includes a concierge, dining facilities, fitness center, cybercafé, conference rooms, a bike share option, and collaborative spaces available to all tenants. The strategically-positioned Parkwood Crossing campus is based in Carmel, one of Indianapolis’ most desirable suburbs and offers immediate access to I-465, U.S. 31, and 96th Street as well as strong I-465 visibility.
Rubenstein was represented by a JLL team comprised of Traci Kapsalis, John Robinson, and Brittany Shuler. The tenant was represented by both Hayden Rasmussen with Savills and Kevin Dick with Bradley Company.