Memorial Healthcare System has acquired Venture Center, a three-building office campus in Hollywood, for $69 million, adding a substantial commercial property near the health system’s flagship hospital operations in Broward County. The campus, centered at 3440 Hollywood Boulevard, sits near I-95 and Florida’s Turnpike and has historically accommodated a mix of traditional office and medical users.

The acquisition gives Memorial control of a sizable office campus within its home market at a time when the healthcare system is making significant investments in its Hollywood-area real estate footprint.

Venture Center consists of three office buildings in a campus-style setting near Hollywood Boulevard and Park Road. Individual buildings within the complex contain roughly 83,000 square feet, with four-story configurations and a range of office suites.

The property’s location is particularly notable for Memorial. The healthcare system already operates Memorial Regional Hospital and other facilities in Hollywood, and the office campus provides additional space relatively close to those operations.

Memorial has been expanding its real estate holdings in the area as part of a broader investment in healthcare infrastructure. The system is also undertaking a major expansion of Memorial Regional Hospital, where a new tower is part of a roughly $670 million modernization project.

The Venture Center purchase also illustrates how healthcare systems can use conventional office properties to support growth beyond traditional hospital campuses. Existing office buildings can potentially accommodate administrative functions, physician practices, outpatient services or other healthcare-related uses without requiring entirely new development.

For South Florida’s medical real estate market, Memorial’s latest acquisition is another example of a major healthcare provider securing strategically located property near an established hospital hub. Control of nearby real estate can give health systems greater flexibility as patient care continues to shift toward outpatient and distributed healthcare settings.