MetLife sells Hollywood business park for $46M to REIT

Miami /
Aug.August 12, 2015 12:00 PM

A Denver, Colorado-based real estate investment trust has purchased a Hollywood corporate center for $45.7 million, according to Broward County records.

The Metropolitan Life Insurance Company sold the 17.4-acre park to an affiliate of Dividend Capital Diversified Property Fund. The properties, at 3440 Hollywood Boulevard, 200 South Park Road and 300 South Park Road, last sold for $41.75 million in May 2005, according to Broward County property records.

The Venture Corporate Center was developed between 1982 and 1984, and includes three buildings: 86,084 square feet, 90,498-square-feet and 90,774-square-feet.

The Hollywood office park is located west of I-95 and east of the Florida Turnpike. It includes paved parking lots and an on-site cafe, according to Taylor & Mathis, the leasing and management firm for the property. Tenants include Hospital Physician Partners, Conroy, Simberg, Ganon, Krevans, Abel, Lurvey, Morrow & Schefer, P.A. and Costa Cruise Lines, N.V.

On Tuesday, BlackRock Realty Advisors sold the Weston Corporate Center for $47 million to KBS Realty Advisors.


Related Articles

arrow_forward_ios
Transamerican Development's President Albert Benalloun with  3100 South Ocean Drive (Google Maps, Benher Capital)
Publix pays $13M for waterfront Hollywood site approved for supermarket
Publix pays $13M for waterfront Hollywood site approved for supermarket
Joseph Chetrit and the Hollywood Beach Resort (Chetrit Group, LoopNet)
Redevelopment ploy? Chetrit buys 102 condos at aging, oceanfront Hollywood Beach Resort
Redevelopment ploy? Chetrit buys 102 condos at aging, oceanfront Hollywood Beach Resort
Luna at Hollywood condominium at 3600 Van Buren Street (Apartments.com, iStock)
Surfside investor completes $34M Hollywood bulk condo purchase
Surfside investor completes $34M Hollywood bulk condo purchase
Hollywood (Reinaldo Borges of Borges Architects & Associates, iStock)
Italian developer plans 180-unit apartment project in Hollywood
Italian developer plans 180-unit apartment project in Hollywood
Rendering of Nautilus Apartments (Shulman and Associates)
Demand driver: Grosman family plans to expand Hollywood rental comple
Demand driver: Grosman family plans to expand Hollywood rental comple
The Easton Group founder and CEO Ed Easton and the truck terminal at 3811 Pembroke Road in Hollywood (The Easton Group)
Easton powers up industrial portfolio with $14M Hollywood truck yard
Easton powers up industrial portfolio with $14M Hollywood truck yard
403 North 19th Avenue (Google Maps)
New York investor picks up Hollywood multifamily portfolio for $11M
New York investor picks up Hollywood multifamily portfolio for $11M
Renderings of the Hollywood Courtyard by Marriott hotel (Adache Group Architects)
MHG Hotels plans to redevelop downtown Hollywood properties into Courtyard by Marriott
MHG Hotels plans to redevelop downtown Hollywood properties into Courtyard by Marriott
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...