Memorial Healthcare System Invests in its Community's Future
April 19, 2023
Memorial Healthcare System, which has been providing care to Hollywood and South Florida communities for 70 years, has purchased two parcels of land at the corner of Hollywood Boulevard and State Road 7. Previously part of the footprint of the Hollywood Fashion Center, the parcels are approximately eight acres and nearly 360,000 square feet on a high-traffic intersection just east of the Florida Turnpike.
Memorial will convene a work group and consult with internal and external stakeholder audiences to determine the optimal use for the property, but preliminary conversations have focused on a health and wellness hub that would serve the community.
“We’re committed to increasing access for a growing population to the high-quality facilities and services residents have come to expect from us,” said K. Scott Wester, president and CEO of Memorial Healthcare System. “While we’ll certainly be creative in our approach to what is ultimately offered, keeping individuals and communities healthy is always our main mission.”
The Memorial property is part of the ongoing revitalization of the 441 corridor and seen as a gateway to Hollywood from the west. There is currently a 155,000 square foot building and an adjacent parking lot on the site.
“I applaud the Memorial team for seizing the opportunity to purchase this major property offering unmatched accessibility at the intersection of two of South Broward’s most traveled roadways, where Broward County is also planning significant public transit investments through the long-range Mobility Advancement Program,” said Hollywood Mayor Josh Levy. “Memorial is uniquely positioned to transform this site into an exciting western gateway into our city.”
The purchase is part of a strategic plan Memorial has for ongoing investment in facilities that serve its customers. This includes the four-story expansion of Joe DiMaggio Children’s Hospital in Hollywood, Memorial Cancer Institute construction in Pembroke Pines, a new location for behavioral health services in Davie, a day center for sickle cell patients and a planned expansion of Memorial Regional Hospital in Hollywood.
Memorial was represented in the recent transaction by Jason Tobin and Louis Granteed of Tobin Real Estate. “Both Memorial Healthcare System and the Tobin family have been fixtures in Hollywood for many decades and are mutually dedicated to making its hometown a better place. We believe Memorial will continue to innovate and deliver its magic to South Florida, and we’re excited to see opportunities like this one come to fruition,” said Jason Tobin, president and COO of Tobin Real Estate.
With the purchase now completed, Memorial enters the strategic planning phase of the project, with the start of any new construction estimated to be at least 2-3 years away.