Velocis Acquires 8.45 Acres for $35M Medical Office Project in Willow Park
April 20, 2022Nearly 100k SF planned across two buildings for 2023 completion in prime location near Texas Health Hospital in Willow Park
FORT WORTH – (April 20, 2022) – Velocis, a private equity real estate investment management firm, acquired 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,” says 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 adds.
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 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,” says 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 seasoned 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.
About Velocis
Velocis is a private equity real estate investment firm active in the acquisition, operation/management and disposition of commercial real estate. Founded in 2010, Dallas-based Velocis has more than $2.2 billion of historical assets under management and has raised more than $1 billion of equity. With a focus on the major markets in the Sunbelt region, the company’s portfolio includes multifamily, healthcare, industrial, office and retail. The Velocis partners have over 160 years of collective real estate experience, currently leveraging their talents across multiple strategies and fund vehicles. Additional information about Velocis can be found at velocis.com.
This does not constitute an offer to sell, or a solicitation of any offer to buy any securities or investment advice, nor is it intended to be a description of all material factors an investor should consider before making any investment.
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