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Hospital Pays $49M for Broward County Distribution Center

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Memorial Healthcare System paid $49 million for the shuttered Hollywood Fashion Center mall, property records show.

The 8-acre property houses the 155,880-square-foot shopping center, which was constructed in 1971 and closed in 1993. Today, the building is home to Gordon Food Service Store, a food distribution center and grocery store. Located at 101 South State Road 7, the site sits adjacent to Hollywood Boulevard, surrounded by big-box stores such as Aldi and Walmart.

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Memorial Healthcare System, a nonprofit hospital system, is looking to redevelop the property into “a wellness hub” but has yet to make a final decision and construction is at least two years away, according to a statement from the hospital. 

The public hospital network, which is governed by South Broward Hospital District Board of Commissioners, operates 10 hospitals in Broward County. 

Brothers Shlomi, Izac and Lior Ben-Shmuel, bought the Hollywood property last year for $7 million with each owning a third, according to property records.

The trio is best known for founding luxury watchmaker Swiss Watch International before selling it to Clearlake Capital Group in 2012. Swiss Watch International shuttered operations in 2017, according to the South Florida Business Journal.

The brothers could not immediately be reached for comment. Jason Tobin and Louis Granteed of Tobin Real Estate represented Memorial Healthcare System

Julia Echikson can be reached at jechikson@commercialobserver.com.