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Prime Opportunities For Office And Redevelopment
Keith Darby
August 16, 2024
In partnership with
Hollywood, Florida is a city located in Broward County, known for its vibrant and diverse community. It has become a popular destination for tourists, with its beautiful beaches and thriving arts and entertainment scene. But beyond the bustling tourist attractions, Hollywood also offers prime opportunities for office space and redevelopment.
In this article, we will take a closer look at many locations and properties that make Hollywood a top choice for businesses and developers for Office And Redevelopment. We will explore the city's economy, infrastructure, and potential for growth, highlighting key factors that make Hollywood an ideal location for office space and redevelopment projects. So let's dive in and discover the spotlight on Hollywood, FL.
The Economy of Hollywood: A Strong Foundation for Growth
Hollywood, FL has a strong and diverse economy that serves as the backbone for its growth and development. The city's major industries include healthcare, tourism, and technology, providing a balanced mix of employment opportunities for its residents.
In recent years, Hollywood has also experienced significant growth in its real estate sector. With an average home price of $300,000 and a steady increase in property values over the years, it is clear that investors see potential in the city's real estate market.
Moreover, Hollywood's location plays a crucial role in its economic success. It is situated between two major cities - Miami and Fort Lauderdale - allowing for easy access to international airports and seaports. This strategic location also makes it an ideal spot for businesses looking to expand and reach a wider market.
Top 2 Prime Locations for Office Space and Redevelopment in Hollywood, FL
Hollywood, FL, presents two prime opportunities for office space development and redevelopment, making it a hotspot for investors and businesses alike.
1.1040 S Federal Hwy & 1817 Funston St
Property Overview:
Hollywood, FL, presents two exceptional opportunities for office space development and redevelopment. Located at 1040 S Federal Hwy & 1817 Funston St, and 1720 Harrison St, these properties offer significant potential for investors looking to capitalize on the area's growth and dynamic commercial landscape.
Benefits:
1040 S Federal Hwy & 1817 Funston St:
Opportunity Zoned District: Enjoy substantial tax benefits and incentives.
Versatile Use: Perfect for developing office spaces with flexible zoning regulations.
Strategic Location: Positioned near major transportation routes and business hubs, ensuring easy access.
1720 Harrison St, 7th Floor:
Exclusive Office Space: 5,581 SF of premium workspace with breathtaking views of downtown Hollywood and the Atlantic Ocean.
Access to Amenities: Tenants benefit from access to a gym and pool, enhancing the work environment.
Central Location: Situated in the heart of Hollywood, making it a prime spot for businesses.
Unique Features:
1040 S Federal Hwy & 1817 Funston St:
Total Buildable Area: A combined 79,683 SF, offering extensive development potential.
Parking Availability: One parking space per 250 SF of gross building area, ensuring ample parking solutions.
Price:
1040 S Federal Hwy & 1817 Funston St: $23
This first-class property is priced at $23 per SF, making it a lucrative investment opportunity for businesses looking to establish their presence in Hollywood. This is the best time to enter the Hollywood market, with property prices expected to rise in the coming years.
2.1720 Harrison St, 7th Floor
Property Overview:
The 1720 Harrison St, 7th Floor is a premium office space located in the heart of downtown Hollywood.
Benefits:
Floor-to-Ceiling Glass Windows: Offering stunning views and an abundance of natural light.
Modern 19-Story Tower: A contemporary workspace with a stylish design and access to exclusive building amenities.
Area’s Growth and Redevelopment Potential:
1040 S Federal Hwy & 1817 Funston St:
Located in a rapidly developing Opportunity Zoned District, this area is experiencing significant growth, attracting new businesses and developments.
The district’s favorable tax incentives and zoning flexibility make it an ideal location for long-term investment and redevelopment.
1720 Harrison St, 7th Floor:
The surrounding area is undergoing substantial redevelopment, including nearby projects like the Young Circle Shopping Center.
These developments are transforming the neighborhood into a vibrant mixed-use hub, increasing the property’s value and attractiveness for future investment.
1720 Harrison St, 7th Floor: $21/Square Ft
So these are the top 2 prime locations for office space and redevelopment in Hollywood, FL, offering unique features, benefits, and growth potential.
And if you're looking to invest in the Hollywood market, RISE Realty is your dedicated partner for all your commercial real estate needs. Contact us today at +1 (305) 859-1606 or [email protected] to learn more about these properties and how we can help you achieve your real estate goals.
Does Hollywood, FL have the Potential to Become the Next “Silicon Beach”?
With its strong economy, prime location, and diverse industries, Hollywood, FL has already established itself as a thriving business hub. But could it also potentially become the next "Silicon Beach" - a booming tech industry center like Silicon Valley or Silicon Alley?
The city's growing technology sector certainly suggests so. With companies like Citrix Systems Inc. and Chewy Inc. setting up their offices in Hollywood, there is significant potential for further growth in this industry.
Moreover, the city's quality of life and affordable cost of living make it an attractive option for attracting top tech talent from other major cities. The recent development of the Young Circle Shopping Center and surrounding areas has also added to the city's appeal, offering a vibrant and diverse urban lifestyle.
Furthermore, Hollywood's proximity to other major tech hubs like Miami and Fort Lauderdale provides ample opportunities for collaboration dania beach boulevard and networking with established companies in these cities. This allows for a more interconnected ecosystem that can foster growth and innovation in the technology sector.
Does Hollywood, FL have the Potential to Become a Top Tourist Destination?
Aside from its economic potential, Hollywood, FL also has the makings of a top tourist destination. With its beautiful beaches, lively downtown area, and variety of attractions and activities, it's no surprise that tourists are flocking to this coastal city.
The city's efforts in revitalizing its beachfront area have significantly contributed to its appeal as a tourist destination. The newly renovated Hollywood Beach Broadwalk and nearby Margaritaville Hotel and Resort provide a unique and memorable experience for tourists.
Furthermore, Hollywood is home to several cultural institutions such as the Arts harry berry park at Young Circle and Art and Culture Center/Hollywood, offering visitors opportunities to engage in the arts and cultural activities.
With its ideal location, variety of accommodations, diverse dining options, and numerous events throughout the year, Hollywood has all the ingredients to become a top tourist destination. And with continued development and investment in the city's tourism industry, it's only a matter of time before Hollywood gains recognition as a must-visit vacation spot.
Top Others Prime Locations for Office Space and Redevelopment in Hollywood, FL
Hollywood, FL, is rapidly becoming a hotspot for office space and redevelopment opportunities. Here is the top list of other prime locations for commercial real estate investment in Hollywood, FL:
Downtown Hollywood's newest Class A building, ICON, is a modern 4-story structure spanning 49,609 sq. ft. Designed with a minimal industrial feel, it features large common areas and stylish entrances adorned with cool tones and marble finishes.
The ground level hosts City National Bank, complete with two drive-through lanes, alongside a FedEx Office. The second floor provides direct access to a city parking garage, while the rooftop tenant lounge and common conference rooms enhance tenant amenities. This prime location promises significant appeal and accessibility for businesses.
This office property in Hallandale Beach offers an ideal location with proximity to major thoroughfares and a vibrant commercial landscape.
While this listing is not currently advertised on LoopNet.com, it presents a unique opportunity for businesses seeking versatile workspace solutions.
With various nearby amenities and transport links, this area is well-suited for professional offices and service-oriented businesses, promising growth potential in a dynamic market. The building's design and layout can cater to multiple business needs, enhancing operational efficiency.
Located between Miami and Fort Lauderdale, Atlantic Village is a burgeoning culinary hub designed for your next business venture. This expansive retail space features inviting patios and outdoor areas, perfect for a variety of dining experiences.
With the area's rapid development, Atlantic Village represents an exceptional opportunity to establish your business and tap into the growing market. Don't miss your chance to thrive in this vibrant locale which is primed for success.
Construction has commenced on The Tropic, a significant 18-story workforce housing project featuring 224 units ranging from one to three bedrooms.
With half of the homes designated for individuals earning at or above 100 percent of the area median income (AMI), this development aims to provide affordable living options in a rapidly expanding market.
The project will include a host of communal amenities, such as a fitness center, swimming pool, and rooftop observation deck, making it an attractive residential choice.
BH Group has partnered with Prime Group to develop a condo-hotel project on a 0.8-acre site near Gulfstream Park. This 14-story building will feature 138 condo-hotel units and 60 standard condos, along with 4,000 square feet of retail space.
A site plan application is currently pending with the city of Hallandale Beach. The joint venture reflects the growing trend in mixed-use developments aimed at enhancing the local residential and commercial landscape, demonstrating significant potential for future growth in the area.
Hudson Village is a stunning eight-story high-rise offering 96 spacious apartments, including 54 one-bedroom and 42 two-bedroom units, designed for residents earning 30% to 70% of the local area median income (AMI).
Each apartment features a private balcony, while residents can enjoy a plethora of community amenities, such as a resort-style pool, BBQ area, clubhouse with a catering kitchen, fitness center, and more.
With rents ranging from $401.00 to $1,300.00 and a prime location on S. Federal Highway, Hudson Village provides exceptional quality living.
BTI Partners and Bridge Investment Group have recently secured an $83 million construction loan for the redevelopment of the site that once housed the Hollywood Bread Building in Downtown Hollywood.
This ambitious 25-story mixed-use project will offer 362 market-rate apartments alongside approximately 16,0 00 p.m square feet of retail space.
Designed by Adache Group Architects and Modis Architects, this development aims to enhance the vibrancy of the area, contributing significantly to the revitalization of Downtown Hollywood's Central Business District.
Elevate Living redefines luxury in the heart of Hollywood, FL, offering an extraordinary blend of space and design.
These contemporary apartments provide stunning 360-degree views, high-end finishes, and access to exceptional amenities, including a resort-style pool and state-of-the-art fitness centre.
Located just moments from vibrant beaches, gourmet dining, and the bustling Arts Park, Elevate Living facilitates effortless urban living. With a strong focus on community and convenience, it’s the ideal choice for those seeking an unparalleled lifestyle in a thriving locale.
These are the top real estate developments in Hallandale Beach and diplomat beach resort hollywood, FL. Whether you are a business owner looking for an ideal location or a resident seeking a luxurious and convenient lifestyle, these projects offer something for everyone.
And if you need a dependable and experienced real estate expert to guide you through the process, our team at RISE Realty is always here to help. We have extensive knowledge and experience in the South Florida market and can assist you with finding your dream property or achieving a successful sale or lease.
Tips for Choosing the Right Real Estate Development
When it comes to choosing the right real estate development, there are a few key factors to consider. These include location, market trends, amenities, and future growth potential.
Location: The location of a real estate development is crucial. It can determine the success and value of a property. Look for developments in desirable areas with easy access to transportation, amenities, and employment opportunities.
Market Trends: Keep an eye on current market trends and projections for the area where you plan to invest or purchase a property. This will give you insight into potential rental or resale income as well as long-term return on investment.
Amenities: Modern developments often offer a range of amenities, such as fitness centers, pools, and community spaces. These can add value to your living experience and attract potential buyers or tenants.
Growth Potential: Look for developments in areas that are experiencing growth and development. This can indicate promising future returns on investment and increase the overall value of the property.
Consult with a Professional: It’s always beneficial to seek guidance from a professional real estate agent or consultant who is knowledgeable about the local market and can provide valuable insights and advice.
Consider Your Needs: Ultimately, the right real estate development for you will depend on your specific needs and preferences. Consider factors such as budget, lifestyle, and future plans when making a decision.
So these are some essential tips to keep in mind when choosing the right real estate development. With thorough research and guidance from a professional, you can find the perfect property that meets your needs and offers a promising investment opportunity.
FAQs
How is the City of Hollywood leveraging North Beach Park for redevelopment?
The City of Hollywood is focusing on leveraging areas like North Beach Park to enhance community engagement and tourism, potentially providing prime opportunities for office and redevelopment projects. This aligns with city plans to boost economic growth and attractiveness of key locations along the coastline.
What role does Margaritaville Hollywood Beach Resort play in Hollywood's redevelopment plans?
Margaritaville Hollywood Beach Resort, located near iconic sites like Hollywood Beach Garage and Hollywood Beach Theater, plays a central role in Hollywood's redevelopment strategy. It serves as a hub for attracting tourists and investors, thereby increasing the area's potential for further commercial and recreational development.
Can you provide details on parking availability for visitors to Hollywood Beach?
City-operated parking garages such as Hollywood Beach Garage, Garfield Parking Garage, and Nebraska Street Parking Garage offer ample parking for visitors. Additionally, spots along Hallandale Beach Boulevard and Dania Beach hollywood boulevard facilitate access to the beach, supporting the flow of vehicular traffic, especially during peak tourist seasons.
What are the special events hosted by the City of Hollywood that attract tourists and residents?
The City of Hollywood hosts several major events, including the 4th of July Star Spangled Spectacular and other cultural festivities organized by the Department of Parks, Recreation, and Cultural Arts. These events are designed to celebrate community spirit and attract visitors to the area's beaches and resorts.
How does Hollywood ensure the safety and preservation of wildlife such as sea turtles?
The Hollywood Police Department, along with the Parks, Recreation, and Cultural Arts departments, actively supports wildlife preservation through initiatives like the Sea Turtle Emergency Line. This effort helps protect endangered species and maintain the natural beauty of areas like Sandy Beach.
What updates are available for ongoing projects and initiatives in Hollywood, FL?
City news updates posted regularly provide the public with information about ongoing projects and initiatives in Hollywood, FL. These updates include redevelopment efforts, community events, and important changes affecting residents and businesses, ensuring transparency and community involvement in city planning.
Conclusion
The South Florida real estate market is booming, and Hallandale Beach and Hollywood are at the forefront of this growth. These developments offer a variety of options for those seeking to invest or live in the area, from luxury high-rise apartments to mixed-use projects with retail and commercial spaces.
When choosing the right real estate development, it’s important to consider factors such as location, market trends, amenities, and future growth potential. And if you need assistance navigating the complex world of real estate, our team at RISE Realty is here to help.
We have extensive knowledge and experience in the South Florida market and can guide you towards making the best decision for your specific needs. So don’t hesitate to reach out to us for all your real estate needs in Hallandale Beach and Hollywood, FL!
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