FT. LAUDERDALE, FL-Hospital Physician Partners, a medical management company, signed a 10-year lease for 28,000-square feet at MetLife’s Venture Corporate Center, a three-building complex in Hollywood. Donna Korn, director of leasing at Taylor & Mathis of Florida, LLC, represented the owner. Steven Hurwitz, senior vice president at CREC in Miami, represented Hospital Physician Partners.
The Venture Corporate Center is located between I-95 and the Florida Turnpike off of Hollywood Boulevard. It has three buildings and the lease is in building III, which has 84,823 square feet. All of the buildings are approximately the same size. The complex was built in 1986 and was renovated in 2010.
The asking rental rate for the buildings is $17.50 triple net. While the occupancy for the complex was not available, the vacancy rate for the Southeast Broward submarket, of which this complex is a part, was 16.4% in first quarter 2010. There are 2.8 million square feet of office space in this submarket, 475,186 square feet of which were vacant in the first quarter of 2010.
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