Use caution if you happen to engage Cliff Stein in casual conversation. If he starts talking about his favorite subject the one about which he is so proud he might just reach for his wallet and start showing you pictures of his building?
Yes, Stein, president of Savitar Properties, is almost euphoric about University Medical Plaza, which Savitar purchased about two years ago and which is located in the city of Tamarac, FL. He loves its unique features, which he refers to as “the perfect storm on the positive side.”
Those features center around the fact that the building itself is located on the University Hospital campus, and the building was actually built before the hospital. “This was done before many setback and zoning ordinances were passed,” Stein explained, “and the building is the only one that sits along and close to University Drive, the major arterial north/south road. And it’s unusual because it acts as a gatekeeper to the hospital campus, and actually overshadows the hospital behind it.”
Adding to the unique features, according to Stein, is the parking. “The building has the best parking including prime parking spaces for the hospital along the hospital wall and right in front of the entrance to the hospital, and we control all of that. It was kind of strange that some of the best features of the building belong to the building and not to the hospital.”
But perhaps the thing that attracted Stein the most when considering the purchase is that, “We just saw something that was incredibly stable,” he said. “A lot of the tenants have been there for more than 20 years, and at least 3/4 of the tenancy has been there for more than 10 years. The physicians who have their practices at UMP simply stay put, and I guess that’s because University Medical Plaza benefits from the exposure to all of the people who come in and out of the hospital, including the visitors. This is the landmark they see and relate to when they’re looking for the hospital. The building has this unique built-in marketing advantage.”
Stein said the physicians represent a wide spectrum of medical specialties, including a heart specialist, an orthopedic surgeon, psychologists, a thoracic surgeon, physical therapists, an ophthalmologist, and a dermatologist, among others. There is also a medical and blood & urine testing lab located on the ground floor. And almost everyone (in the building) is on staff at and works closely with the hospital.”
University Medical Plaza and the hospital were built in the mid-1970s. Stein said since purchasing the building, Savitar has spent a fortune upgrading the exterior, common areas, and restrooms, putting in new landscaping, re-doing the lobby and upgrading the elevators, and improving accessibility for clients and patients with special needs.
“It’s such a pride of ours to own,” he said. “I’m in the real estate business, but I don’t specialize in medical buildings. Now that I bought this building, I’m looking to acquire more medical buildings, preferably those located on hospital campuses. We own a lot of commercial properties but we have never before bought a property complete with so many wonderful features. I got kind of spoiled with this built-in tenancy stability and marketing advantage.
“It’s really a sight to behold. I’m so proud of it.”
Use caution if you happen to engage Cliff Stein in casual conversation. If he starts talking about his favorite subject the one about which he is so proud he might just reach for his wallet and start showing you pictures of his building? 
