Tobin Real Estate and Memorial Healthcare System, which have operated in the City of Hollywood for more than 60 years, collaborated on a new transaction that will further enhance the community both organizations care deeply about. Firm President and COO Jason Tobin and Senior Vice President Louie Granteed exclusively represented their client Memorial in its April 17 acquisition of two of the City of Hollywood’s high-profile parcels of land on the city’s most prominent corner at 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.

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.

“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,” Jason Tobin said. “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.”

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. 

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.  

“We are very proud to exclusively represent Memorial, which is such a first-class organization, in its real estate matters,” Granteed said. “I want to specifically recognize and thank the South Broward Hospital District’s Board of Directors, Memorial CEO Scott Wester and Memorial Executive Vice President and Chief Strategy Officer Matthew Muhart. Their dynamic vision and strategic planning recognized the significance this acquisition and redevelopment will bring, not only to Memorial, but to the community it serves with the highest quality of medical services in the country.”

Granteed added that the future redevelopment will be a pivotal turning point in the revitalization of the State Road 441 corridor, which is the major gateway into the City of Hollywood.

Tobin Real Estate, a division of the forward-thinking Tobin firm that is nearing a century of operation, leverages generations of experience and a strategic, data-driven approach to achieve optimal results for clients. This Hollywood transaction is one of countless examples of Tobin’s unmatched Owner’s Perspective™.