Texas + Dallas-Fort Worth + Healthcare | April 22, 2022

Square Mile Capital originated a $118-million loan to finance the development of 777 Industrial, a planned 150,000-square-foot Class A, R&D and life science lab building in San Carlos

Velocis Acquires 8.5 Acres for $35 Million Planned Medical Office Project in Willow, TX

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.

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.

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About Erik Hamilton

Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.

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