Velocis, a private equity real estate investment management firm based in Dallas, acquired almost 8.5 acres off I-20 in Fort Worth adjacent to the Texas Health Hospital in Willow Park. The land purchase will accommodate the development of two speculative medical offices buildings (MOBs) totaling 100,000 square feet. The price of the land was not disclosed.
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.
Nearly 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.
Class A office building/space will undergo additional upgrades, including an outdoor tenant lounge
ATLANTA – (April 12, 2022) – Velocis, a private equity real estate investment management firm, has purchased 900 Ashwood, a 207,291-square-foot Class A office building located in Atlanta’s Central Perimeter submarket.
“900 Ashwood is a desirable asset for various reasons including its recent upgrades and advantageous location in the heart of Atlanta,” said Jim Yoder, partner, Velocis. “We bring fresh capital and a fresh mindset to the property which allows for a more aggressive approach to leasing space in the building. “
In line with Velocis’ value-add investment approach, the company will implement key property upgrades on top of recent extensive improvements made by the former owner. These new enhancements will include updated outdoor seating to create an outdoor tenant lounge with a firepit and communal area. Additionally, Velocis will upgrade the current spec office suite offering available to prospective tenants by providing fully furnished and outfitted tenant spaces.
These enhancements will complement the building’s current amenities including a newly renovated upscale tenant lounge and on-site Ashwood Café, an updated fitness center with locker rooms, showers and saunas, and an expansive shared conference room/training center. Additionally, dedicated parking spaces offer covered building access.
900 Ashwood is 65% leased to a strong tenant roster including CRH Americas, Inc.; Simpson Housing; Texas Instruments; Concentra Health; and several more. Immediately surrounding 900 Ashwood is over 50 dining options, 37 shopping options and 10 hotels. Many of these walkable amenities are in the newly completed Perimeter Marketplace located directly across the driveway from the building.
900 Ashwood is Velocis’ fifth Atlanta-market asset. The fund manager also owns Sugarloaf Corporate Center, an office park and mixed-use development in the heart of Atlanta’s Gwinnett County. Velocis’ previous Atlanta investments include Parkway at Avalon, a two-building office complex in Alpharetta; Royal Centre One, an office building in the heart of Alpharetta’s Royal 400 Office Park; and, 1600 Parkwood, an office building in the Cumberland/Galleria submarket.
Richard Reid and Huston Green at JLL Capital Markets brokered the off-market sale. Parmenter and Starwood were the sellers, and Parmenter will remain a 5% equity partner and provide property management and construction management services. Kirk Rich and Chris Godfrey of Avison Young will provide leasing services.
Dallas-based Velocis has been active in real estate since 2010, purchasing 35 assets located in major markets within Arizona, Colorado, Texas, Georgia, Florida, North Carolina, Virginia, Tennessee, and the Washington D.C. Metro Area. 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, Rex Huddleston 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 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.
