AI Company ServiceNow Takes Up to 200K SF With Stephen Ross in West Palm Beach

AI company ServiceNow is taking up to 200,000 square feet at Stephen Ross’s 10 CityPlace development in Downtown West Palm Beach, Fla. 

The Santa Clara, Calif.-based company will become the anchor tenant of the 480,000-square-foot development, which remains under construction. ServiceNow, which recorded nearly $11 billion in revenue last year, runs a cloud-based platform that helps firms automate and manage digital workflows using artificial intelligence.

The City of West Palm Beach and the State of Florida have approved $17 million in incentives for ServiceNow if it creates 856 jobs, WPTV reported. 

ServiceNow plans to open an innovation hub within the office, which is expected to open in 2028. Ross’s firm, Related Ross, is negotiating to receive about $700 million in construction financing to build the tower as well as another office building next door, 15 CityPlace. 

“West Palm Beach is the latest move in ServiceNow’s tradition of embracing bold economic developments across the country,” Bill McDermott, chairman and CEO of ServiceNow, said in a statement. “This will be a compelling magnet for talent, a strong engine for growth, and a dynamic hub for America’s AI leadership.” 

ServiceNow’s lease marks a win for Ross’s broader quest to turn West Palm Beach into a leading business hub. 360 Rosemary, the office building that Ross completed in 2021, has landed high-profile finance tenants such as Goldman Sachs, J.P. Morgan and Elliott Investment Management. 

Ross has also successfully lobbied Vanderbilt University to open a $520 million graduate campus, though construction has yet to commence.

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