JLL Capital Markets arranged equity and construction financing for South Fort Worth Logistics Center, a state-of-the-art, speculative industrial development totaling 956,020 square feet in the southern part of Fort Worth, Texas. JLL worked on behalf of Bandera Ventures to arrange the partnership with Invesco Real Estate, a global real estate investment manager. Additionally, working on behalf of the partnership, JLL arranged a three-year construction loan with Veritex Bank. The project is set for completion in 2021. Situated on 47.6 acres at the northwest corner of Oak Grove Road and Everman Parkway, the South Fort Worth Logistics Center site is in the South Fort Worth Industrial submarket, one of the most desirable industrial submarkets in the Dallas-Fort Worth region and accounting for a critical mass of Fort Worth industrial product. The site has easy north-south access via Interstate 35 and east-west access via Interstate 20, as the South Fort Worth industrial submarket offers the capability to connect to key transportation nodes both regionally and nationally. Designed by Halff Associates, South Fort Worth Logistics Center will consist of two cross-dock buildings that feature 36- to 40-foot clear heights, deep truck courts, ample parking and trailer storage, 231 loading doors and an ESFR sprinkler system. The distribution and warehouse buildings can be configured for a single tenant or multiple tenants. Click to read more at www.rejournals.com.

A second corporate center is coming to Craig Ranch in McKinney. VanTrust Real Estate LLC, a commercial real estate development company, has begun work on a second Class A speculative office building in McKinney called McKinney Corporate Center II. The office building will be four stories and 115,000 square feet and will be adjacent to the existing McKinney Corporate Center I, according to a VanTrust news release. “McKinney Corporate Center II offers access to Dallas-Fort Worth’s premier labor force and sought-after central U.S. location,” said Bill Baumgardner, executive vice president at VanTrust and head of the company’s Texas office. “Beyond its regional location and available workforce, the building has direct connectivity to three major highway systems, SH-121, US-75 and Dallas North Tollway, and is located within one of the premier master-planned, mixed-use communities in North Texas.” Click to read more at www.communityimpact.com.

Renaissance Pathology has selected the balance of a mixed-use project in Collin County’s Creekwalk Village to launch Aperture Next-Gen Laboratory Enterprises, a coronavirus diagnostic, research and development facility. The lab will open Aug. 1 in 4,780 square feet of move-in ready space at 609 W. 15th Street in Plano, Texas. The second-floor suite features five private offices, conference room and kitchen, previously home to a medical spa. Janet Scholl, president of the retail/restaurant division of Wingert Real Estate represented the tenant. “It’s a beautiful space and in perfect condition,” sayid Leigh Richter, executive vice president of Bradford Commercial Real Estate Services. She represents the landlord, Suriya Legacy LP, along with her husband, Paul Richter, a vice president in the Dallas-based brokerage firm. Creekwalk Village’s new tenant will be performing COVID-19 testing while researching and developing new methods aimed at hastening the process. Initially, the lab will process molecular diagnostic specimens from physicians. There will be no walk-in services. Aperture Next-Gen’s long-term goal is to create same-day or next-day virus screening services for schools and corporate clients. Future research will include monitoring and identifying COVID-19 mutations by next-generation sequencing. “People need answers in less than three days so they can do something with their results,” said Dr. James Davie, lab director. “We don’t want students, teachers and coworkers living in a constant state of fear of catching COVID from a peer.” With a power center on its doorstep, the 19,923-square-foot, mixed-use project has been particularly attractive to medical users. Aperture Next-Gen is joining a tenant lineup that includes a dental office, physical therapy and massage therapist. Mattress Firm is the retail anchor. The Bradford client also owns the adjacent Norma’s Café. The assets are situated within Creekwalk Village, a 175,000-square-foot, 15-store power center of big box national brands. The properties are located a few blocks from Central Expressway/US Highway 75 and roughly 17 miles northeast of the Dallas CBD.

JLL Capital Markets closed the sale of 3601 21st Street, a 20,880-square-foot, single-tenant, net-lease medical office property in Lubbock, Texas. JLL represented the seller, a joint venture between Healthcare Property Advisors and The Innovation Institute. The buyer was Los Angeles-based RealtyMogul. The property is fully leased to Covenant Health System, the dominant healthcare provider in the region, and the largest health care institution in West Texas. Covenant Health System is a wholly-owned sub-network of Providence St. Joseph. The three-story property was completed in 1966 and most recently renovated in 2003. Situated on 1.21 acres, the building is within the 200-acre Lubbock Medical District and at the front door of the 394-bed Covenant Medical Center, the largest hospital by both bed count and revenue in the Covenant Health System network. The property is in Lubbock, which is the Southwest’s preeminent medical center between the Dallas-Fort Worth Metroplex and Phoenix. The JLL Capital Markets team representing the seller included Nick Foster, who is part of the corporate finance team; Evan Kovac, Andrew Milne, and Matt DiCesare from the national healthcare capital markets team and Michael George from the Dallas office of the corporate finance team. Additionally, John Chun, who is a member of the national healthcare capital markets team, advised from a debt and structured finance perspective. “Despite obvious challenges in the capital markets, single-tenant opportunities backed by investment-grade tenants remain a bright spot for investors looking for certainty of income,” Foster said. “This investment checked a lot of boxes and generated interest from single-tenant as well as healthcare-focused capital sources.”