CBIZ Leases 53,000 SF at Parkwood Crossing
Benefits and Professional Services Specialist Plans for Growth
September 30, 2019 – Indianapolis – Rubenstein Partners, L.P. (including its affiliates, “Rubenstein”), a vertically integrated real estate investment adviser focused on value-added office property opportunities, and Indianapolis-based Strategic Capital Partners, LLC (“SCP”), a commercial real estate development firm, announced today that CBIZ, Inc. (NYSE: CBZ) has leased 53,000 square feet at Parkwood Crossing, considered the premier office address in the North Indianapolis/Carmel submarket. CBIZ’s new offices will be located at Eight Parkwood, a 204,126 square foot building within the 8-building, 1.2 million square foot office park, which Rubenstein and SCP acquired in 2016.
CBIZ is a publicly traded provider of professional and financial services with more than 100 offices across the U.S., offering financial, benefits, and insurance products to organizations of all sizes and individual clients. The long-term lease at Eight Parkwood provides CBIZ with sufficient space for current needs as well as anticipated future growth.
SCP Vice President of Leasing Stephen Lindley said: “We’re excited to have a high-caliber firm such as CBIZ make a long-term commitment to Parkwood Crossing. We look forward to partnering with CBIZ on expanding their Indianapolis footprint.”
“Since acquiring Parkwood, our goal has been to create a fully-amenitized and differentiated product that tenants today are seeking. We believe landing a high-caliber firm like CBIZ validates the strategic investments we’ve made into the campus.”
Parkwood Crossing is strategically positioned with immediate access to I-465, U.S. 31, and 96th Street and boasts I-465 visibility. Located at the northern boundary of Indianapolis, the park is adjacent to the affluent suburbs of Carmel, Zionsville and Fishers in Hamilton County. Along with being one of the fastest growing counties in the nation, Hamilton County is home to a population earning more than double the national and state average for household income.
Rubenstein and SCP are investing approximately $20 million in improvements at Parkwood, most notably the PARC – the first stand-alone, full-service tenant amenity center in a major office complex in the Indianapolis market. The PARC, a new 14,000 square foot building which opened in 2018, overlooks the lake at 550 E. 96th Street and exclusively serves Parkwood Crossing tenants.
The PARC provides 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 the YMCA 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; and direct connection to the Parkwood Crossing trail within the campus and the Monon Trail, the 23-mile urban multi-use trail linking downtown Indianapolis to points north of Carmel.
A JLL team led by Traci Kapsalis, Adam Broderick and Brittany Shuler handled the lease transaction on behalf of the building ownership with Gibraltar Real Estate Services in conjunction with Matt Waggoner of JLL representing the tenant