The Grand Opening of the Parkwood Amenity and Recreation Center (PARC), is Thursday, April 12, 2018. PARC is the first stand-alone, full-service tenant amenity center in a major office complex in the Indianapolis market. It overlooks the lake at 550 E. 96th Street and exclusively serves Parkwood Crossing tenants. The 14,000-square foot, $8 million facility is part of a $20 million investment in Parkwood Crossing by its owners, Indianapolis headquartered Strategic Capital Partners, LLC (SCP) and Philadelphia-based Rubenstein Partners.
“Building an amenity center and social hub is part of the overall investment strategy that Rubenstein Partners and SCP have pursued since purchasing Parkwood Crossing in August 2016. PARC consolidates our amenity package in one creative facility. We are excited that it is ready to open and believe that PARC will enhance our tenants’ experience at Parkwood,” said Strategic Capital Partners CEO, Richard Horn.
PARC offers tenants:
- An inviting tenant lounge with fireplace and outside wraparound deck with lake views for working, networking, conversing and dining.
- A gourmet café by Sahm’s with online ordering.
- A 6,000-square foot fitness center managed by Hoffacker Health and Fitness with cardio machines, weights, personal training and group fitness classes.
- Connection to the Carmel Bike Share system using the Zagster bicycle sharing program.
- Four Tesla and three universal electric charging stations.
- A conference and training center with state-of-the-art technology and A/V capabilities.
PARC connects directly to the Parkwood Crossing trail providing pleasant walking or jogging throughout the campus. It also connects to the Monon Trail, the 23-mile urban multi-use trail linking downtown Indianapolis to points north of Carmel.
Parkwood Crossing is an eight building, 1.2 million square foot premier office park at the intersection of I-465 and North Meridian Street. The purchase of Parkwood in 2016 by SCP and Rubenstein Partners is “one of the largest central Indiana commercial office real estate transactions in recent history,” said Horn. Parkwood is in Carmel, one of Indianapolis’ most desirable suburbs. The strategic “main and main” location has long been a favored location for major corporate users given its unparalleled visibility and access to a well-educated and affluent employee base.
“We believe unique and well-executed amenities can add significant value to already best-in-class suburban assets,” said Brandon Huffman, portfolio manager at Rubenstein Partners. “Enhanced amenities that respond to tenant demand for a more urban-like feel in terms of community and social interaction – whether in the form of a stand-alone center like PARC or through creative programming and improvements to existing spaces – can further differentiate the park from its competitors. For this reason, Rubenstein Partners is making strategic investments in expanded amenities across our portfolio, particularly in suburban assets,” said Huffman.
PARC was designed by CSO Architects and constructed by Pepper Construction - both headquartered in Indianapolis. JLL provides leasing services and Strategic Capital Partners is the property manager for PARC.