Related Ross Acquires Coral Springs Office Campus From First Data for $36.5M

Why It Matters

The purchase diversifies Ross’s real‑estate holdings and signals Broward County’s rising appeal to high‑value corporate tenants, potentially reshaping regional office‑space dynamics.

Key Takeaways

• Ross paid $36.5M for Coral Springs office campus.
• Includes two 100k‑sq‑ft buildings and 2.3‑acre parcel.
• $18.3M seller financing from First Data.
• First Data leases back space for three years.
• Expands Related Ross footprint beyond West Palm Beach.

Pulse Analysis

Stephen Ross’s acquisition of a Coral Springs office campus marks a strategic push into Broward County, complementing his high‑profile development agenda in West Palm Beach. By securing nearly 205,000 square feet of Class A office space adjacent to the Everglades, Ross positions Related Ross to tap a growing demand for premium corporate real estate in South Florida. The region has seen a surge in financial‑sector leasing activity, and Ross’s track record of attracting blue‑chip tenants such as J.P. Morgan and Goldman Sachs adds credibility to his expansion plan.

The deal, valued at $36.5 million, includes $18.3 million of seller financing from First Data, now part of Fiserv, and a three‑year lease‑back that keeps the payment processor on the premises. This financing structure reduces upfront capital outlay for Ross while guaranteeing immediate occupancy, a model increasingly common in commercial real‑estate transactions. The vacant 2.3‑acre parcel offers development flexibility, potentially allowing Related Ross to add mixed‑use components or additional office towers that align with the firm’s mixed‑use, transit‑oriented vision.

Analysts view the purchase as a signal that Broward County could become a secondary hub for corporate headquarters, challenging Miami‑Dade’s dominance. The presence of a developer with deep ties to institutional investors may accelerate infrastructure upgrades and attract further private‑equity funding to the area. For Ross, the move diversifies his portfolio, mitigates geographic concentration risk, and creates a pipeline of assets that can be leveraged for future financing or joint‑venture opportunities, reinforcing his long‑term ambition to reshape South Florida’s commercial landscape.

Deal Summary

Related Ross, the firm of billionaire developer Stephen Ross, purchased a two‑building office campus in Coral Springs, Florida for $36.5 million, with $18.3 million in seller financing from First Data Corporation. The deal includes a three‑year lease‑back allowing First Data to remain on the property.