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Velocis Acquires 8.45 Acres for $35M Medical Office Project in Willow Park
FORT WORTH, TX — Velocis, a private equity real estate investment management firm, acquires almost 8.5 acres off I-20 in Fort Worth adjacent to the Texas Health Hospital in Willow Park, to build two speculative medical offices buildings (MOBs) totaling 100,000 square feet.
“This project will deliver Class A medical office 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 site is off I-20 in Willow Park in the center of the dynamic growth corridor between Weatherford and Fort Worth. The price of the land was not disclosed.
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. JLL's Ethan Garner, who leads their Healthcare and Life Science practice, will handle leasing for the buildings.
“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 said.
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 Brasfield & 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 first phase, the 60,000-square-foot MOB, will be the nexus of the master plan campus offering a full spectrum of health care 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 over $2 billion worth of commercial assets across the Sunbelt. Velocis is led by a team of five partners who are directly responsible for the acquisition, asset management, and disposition of assets. Velocis partners include Fred Hamm, Mike Lewis, Jim Yoder, Paul Smith, and David Seifert. Acquisition team members include Daniel Plumlee and Bailey Crowell.
Texas Contractor Projects“This project will deliver Class A medical office 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 site is off I-20 in Willow Park in the center of the dynamic growth corridor between Weatherford and Fort Worth. The price of the land was not disclosed.
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. JLL's Ethan Garner, who leads their Healthcare and Life Science practice, will handle leasing for the buildings.
“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 said.
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 Brasfield & 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 first phase, the 60,000-square-foot MOB, will be the nexus of the master plan campus offering a full spectrum of health care 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 over $2 billion worth of commercial assets across the Sunbelt. Velocis is led by a team of five partners who are directly responsible for the acquisition, asset management, and disposition of assets. Velocis partners include Fred Hamm, Mike Lewis, Jim Yoder, Paul Smith, and David Seifert. Acquisition team members include Daniel Plumlee and Bailey Crowell.
