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ScanlanKemperBard Recapitalizes 378k sf OR Biz Park

5/12/20

ScanlanKemperBard (“SKB”) has recapitalized Parkway Woods Business Park, a 378.3k sf suburban campus on 70-plus acres. The property, which was formerly a campus for Tektronix and then Xerox, has since undergone significant common area renovations and is currently leased to two tenants–3D Systems, a printing and scanning company, and Dealer Spike, an online RV and marine dealership.

Parkway Woods is a mixed-use business park featuring best-in-class amenities, including an abundance of parking, on-site public transportation, a lounge and fitness facility, a newly renovated lobby, an on-site snack shop, rotating food trucks, a disc golf course, a basketball court and outdoor space.

Comprised of three interconnected single-story buildings, SKB and RGA plan to reposition the property’s large floor plates and leverage the premiere amenities to meet the needs and size requirements of a wide range of light industrial, manufacturing and R&D tenants. Additionally, the site includes over 4.5 acres of developable land that could accommodate approximately 85k sf of new industrial space.

The seller, Parkway Woods Business Center LLC, a joint venture between SKB and Oaktree Capital, was represented by NKF’s Nick Kucha, James Childress, Jeff Hodson, Kevin Shannon and James Ikeguchi . The buyer, Reinsurance Group of America, was self-represented. SKB will stay as a partner in the investment to help execute a strategic repositioning of the property.




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