A joint venture led by Fox Ridge Capital, Jax Capital Investments and TKF Real Estate Investment has completed the sale of the Venture Center, a professional and medical office complex in Hollywood, Florida. The property, located at 3440 Hollywood Boulevard and 200-300 S Park Road, changed hands for a reported $69 million. The buyer is South Broward Hospital District, a political subdivision of the State of Florida.
The Venture Center is described as a suburban, campus-style complex that combines professional and medical office uses. The campus totals 254,015 square feet across three four-story buildings. The buildings were constructed between 1982 and 1986 and are situated on a 16-acre site. The property occupies a prominent position at the intersection of Hollywood Boulevard and South Park Road, an area noted as highly trafficked.
The complex benefits from regional transportation connectivity. It sits approximately one half mile west of Interstate 95 and about 2.25 miles east of the Florida Turnpike, placing it between two of South Florida’s primary north-south corridors. This central location within Hollywood, Florida, positions the property to serve a broad base of professional and medical users.
On the capital markets side, Cushman & Wakefield represented the joint venture sellers in the transaction. The brokerage team included Scott O’Donnell, Dominic Montazemi, Mike Davis, Rick Brugge, Rick Colon, Mike Ciadella, Greg Miller and Miguel Alcivar. On the buy side, Chris Lee of CBRE represented South Broward Hospital District in its acquisition of the complex.
The sale transfers ownership of a sizable medical and professional office campus to a public hospital district, aligning the asset with an institutional healthcare-related owner. The combination of campus scale, medical office orientation and transportation access framed the context for the transaction, which concluded with a defined purchase price and clearly identified buyer and seller parties.
