Northwestern Mutual Leases 26,000 SF at Parkwood Crossing
Leading financial services firm consolidating multiple offices at recently renovated Six Parkwood
June 9, 2020 – 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 that Northwestern Mutual signed a new 10-year, 26,000 square foot lease at Parkwood Crossing.
Parkwood Crossing is an eight-building, 1.2 million square foot office park complete with a 16,000 square foot amenity center overlooking the lake. Located in the North Meridian/Carmel submarket of Indianapolis, Parkwood is easily accessible from I-465. Rubenstein and SCP acquired the entire campus in 2016. Northwestern Mutual is consolidating several downtown and suburban offices – including an existing, smaller presence in Four Parkwood – into its new space at Six Parkwood.
“We’re thrilled to have a high-caliber firm such as Northwestern Mutual make a long-term commitment to Parkwood Crossing and substantially expand its footprint in the park.”
“It’s gratifying to see the continued leasing momentum at Parkwood Crossing,” notes Brian Simel, Rubenstein Partners. “As businesses go back to work and adopt required social distancing measures in this rapidly evolving ‘new normal’, suburban office properties are poised to be in high demand. Securing a long-term lease with a prominent company like Northwestern Mutual is a clear demonstration of the suburban office market growth in Indianapolis and validates the extensive appeal of the Parkwood Crossing campus.”
Rubenstein and SCP recently completed a comprehensive capital improvement program at Six Parkwood, which includes a complete overhaul and modernization of the main lobby, restrooms, and common corridors. These enhancements further solidify Six Parkwood’s positioning as the highest quality office product in the submarket
Parkwood Crossing ownership is committed to ongoing capital improvements as evidenced by PARC – the Parkwood Amenity and Recreation Center. In addition to the fitness center and a variety of meeting and lounge spaces, the PARC amenities now include the new “Labor District Café”, a fast-casual breakfast and lunch concept with Grab & Go items and online ordering. The café operator, Vontra Foods, supplements food offerings with PROX kiosks in multiple locations throughout Parkwood Crossing and catering services for tenants.
A JLL team led by Traci Kapsalis, Adam Broderick and Brittany Shuler handled the lease transaction on behalf of the building ownership with John Crisp of Cushman & Wakefield representing the tenant.