Summary: Velocis, a private equity real estate investment management frm, announced it has acquired almost 8.5 acres off I-20 adjacent to the Texas Health Hospital in Willow Park, to build two speculative medical offces buildings (MOBs) totaling 100,000 square feet.
Latest Update: Wednesday, 20 April, 2022
A 100,000 square foot healthcare campus development strategically located near Texas Health Hospital in Willow Park, TX, a high-growth submarket of Fort Worth.
Location: Fort Worth, TX
Property Type: Medical
Building Size: 100,000 SF
Fund: Fund III
The Community News, 21 April 2022
Land bought for $35M medical offce project
Nearly 100,000 square feet planned construction across two buildings for 2023 completion.
Velocis, a private equity real estate investment management frm, announced it has acquired almost 8.5 acres off I-20 adjacent to the Texas Health Hospital in Willow Park, to build two speculative medical offces buildings (MOBs) totaling 100,000 square feet.
“This project will deliver Class A medical offce space to a growing medical node in Willow Park that is serving the explosive population growth and strong demographics,” said Velocis Co-Founder and Partner Mike Lewis.
The project includes two speculative MOBs; one will be three stories totaling 60,000 square feet and the other will be two stories totaling 40,000 square feet. Construction is slated to start this year with a 2023 targeted completion. Ethan Garner will handle leasing for the buildings. Garner is a senior vice president of JLL commercial real estate and he leads their Healthcare and Life Science practice.
“Our site is adjacent to the Texas Health Willow Park hospital campus, as well as multiple ambulatory surgery centers under construction including GI Alliance and a spine and orthopedic center,” Lewis added.
Prime Healthcare Properties is Velocis’ development partner and sourced the opportunity for Velocis. Architect is Grace Hebert Curtis Architects, civil engineer is Wier & Associates, and the general contractor will be Brasfeld & Gorrie.
“This development is the culmination of years of planning that will enhance the quality of life for West Fort Worth for future generations. The frst phase, the 60,000 SF MOB, will be the nexus of the masterplan campus offering a full spectrum of healthcare services to Willow Park, Weatherford, and surrounding trade areas,” said Mark Samples, President of Prime Healthcare Properties, LLC.
Dallas-based Velocis has been active in real estate since 2010, purchasing and developing more than $2 billion worth of commercial assets across the Sunbelt. Velocis is led by a team of five seasoned partners who are directly responsible for the acquisition, asset management, and disposition of assets.
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