7198 Taft St
Hollywood, FL 33024
Office Property For Sale

This property is conveniently located east of University Drive and west of the Florida Turnpike and south of Sheridan Street and north of Johnson Street. This freestanding building is on the corner of Taft Street and 72nd Avenue. Great location blocks from the Hollywood Palm Shopping Center (home to Publix, Walgreens, Chase, Flippers Cinema, Dunkin', and Baskin Robbins). South of the city of Fort Lauderdale, the Hollywood Submarket is a center for employment in healthcare and retail trade, and its two main office nodes are along Hollywood Boulevard and Sheridan Street. Some of the major employers here include HEICO, Brandsmart, Royal Caribbean and the Seminole Hard Rock Hotel & Casino. Some of the largest tenants include Amsurg, the IRS and AT&T. The vacancy rate has been flat over the past two years and is lower than the metro average. Rents here are slightly less expensive than the metro average, and rent growth is faster than the metro average, at 3.4%. Sales activity was solid in 2018. One of the largest trades occurred in July when the Washington Street Medical building sold for $11.5 million, or about $198.91/SF. This represents an almost 40% gain from what the sellers paid for the asset in 2015.