A joint venture involving Fox Ridge Capital, Jax Capital Investments and TKF Real Estate Investment has sold the Venture Center, a 254,015-square-foot professional and medical office complex in Hollywood, Florida. The South Broward Hospital District acquired the 16-acre campus for $69 million, adding a prominent healthcare-oriented property to its portfolio.
Key takeaways
The transaction highlights continued institutional interest in well-located medical office properties and gives the buyer control of a sizeable campus near major South Florida transportation routes.
- The Venture Center sold for $69 million.
- The property includes 254,015 square feet across three buildings.
- South Broward Hospital District was the buyer.
- The campus occupies 16 acres at Hollywood Boulevard and South Park Road.
- The buildings were constructed between 1982 and 1986.
A sizable medical office transaction
The Venture Center comprises three four-story buildings serving professional and medical office users. Built between 1982 and 1986, the complex offers a substantial footprint within Hollywood’s established commercial market.
The $69 million sale reflects the value of a large, campus-style medical office asset in a region where healthcare services and related office demand remain important components of the commercial real estate landscape.
Hospital district expands its real estate position
The South Broward Hospital District, a political subdivision of the State of Florida, purchased the property. The acquisition provides the district with ownership of a centrally located office campus that can support medical, administrative or other healthcare-related uses.
The deal also places a significant local asset under the control of an organization closely tied to the region’s healthcare infrastructure. The buyer was represented by CBRE, while Cushman & Wakefield advised the selling joint venture.
Location supports accessibility
The Venture Center sits at the heavily traveled intersection of Hollywood Boulevard and South Park Road. The property is approximately one-half mile west of Interstate 95 and 2.25 miles east of Florida’s Turnpike.
That positioning gives tenants and visitors access to two of South Florida’s major north-south roadways. Its suburban campus layout and proximity to regional transportation corridors were key characteristics of the asset as it changed ownership.
What the sale signals for Hollywood
The transaction underscores the appeal of specialized office properties in established South Florida locations. Although the buildings date from the 1980s, their scale, medical-office configuration and accessible setting helped attract a public healthcare buyer.
For Hollywood, the sale represents a notable investment in an existing commercial campus rather than a ground-up development. The ownership change could support the property’s continued role as a major professional and medical office destination in the market.
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