As Tamarac experiences a dynamic increase in activity driven by its strategic location and commitment to fostering business growth, Colliers announced the sale of the 100% occupied University Medical Center for $7.6 million.

The property is located at 7710 NW 71st Court in Tamarac. Colliers’ South Florida Investment Services Team represented the sellers, Triple Double Real Estate and PrivCap Companies, in the transaction. The buyer, Tamarac FPC, LLC – an Argentinian family office, was represented by Jose Naftali in the acquisition.

The three-story, multi-tenant medical office building is situated on a 2.96-acre parcel on the HCA Florida Woodmont Hospital campus adjacent to University Drive. University Drive is a major north-south thoroughfare with an annual average of 43,000 vehicles daily. Its strategic location provides tenants with unique access directly to the hospital campus. HCA Florida Woodmont Hospital has been serving the community for nearly 50 years, offering a full-service acute care facility, several Healthgrades™ Five-Star Awards, and recognition as one of the top 5% of hospitals nationally for patient safety. University Medical Center is fully occupied, featuring medical office users providing services such as mental health treatment, dermatology, physical therapy, and primary care.

Triple Double Real Estate, led by Andrew Greenbaum, is a full-service, vertically integrated real estate investment, operations, and management firm based in South Florida. With over 20 years of experience, the company specializes in designing creative and innovative value-added strategies to maximize portfolio returns. Its focus lies in evaluating projects, creating trailblazing solutions to boost property value, maintaining top-notch building maintenance, and providing an exceptional tenant experience.

PrivCap Companies, led by CEO Donny Cohen, is a boutique investment firm that serves accredited, high-net-worth individuals. PrivCap offers simplicity, access, transparency, personalized service, and attractive returns. The firm’s portfolio includes medical office and assisted living properties in Alabama, Florida, Georgia, and Texas.

The city of Tamarac boasts an active medical office market, with over 500,000 square feet and a vacancy rate of 3.2% by the end of the second quarter. This is a 250-basis point decrease from the prior year, indicative of the market’s persistent demand for medical office space. Similarly, rents soared to $30.24 per square foot for full service simultaneously, a 5.4% increase year-over-year. The market is supported by a mix of small to medium-sized medical practices, with an average space of 20,000 square feet. Key locations for medical offices in the City of Tamarac include University Drive and Commercial Boulevard, both of which offer good visibility and accessibility.