Stephen Ross Buys Broward County Office Campus for $37M

While Stephen Ross spends billions in West Palm Beach trying to turn the South Florida city into a growing business hub, the billionaire developer has now extended his reach further south into Broward County.

Ross’s firm, Related Ross, paid $36.5 million for an office campus in Coral Springs, Fla., property records show. The campus, near Everglades National Park, features two office buildings — one spanning 107,736 square feet at 3975 Northwest 120th Avenue and the other 97,892 square feet at 4000 Coral Ridge Drive — as well as a vacant 2.3-acre parcel at 11900 Northwest 41 Street. 

The transaction includes $18.3 million in seller financing from First Data Corporation, a global payment processor, which has owned the property since the 1990s. Fiserv Solutions bought First Data for $22 billion in 2019. 

First Data inked a three-year leaseback agreement to remain in Coral Springs. 

“We remain committed to Southern Florida given our existing talent and favorable labor market and are actively looking at options for new office space,” per a statement from Fiserv. “Until that time, all associates will continue working in the Coral Springs office.”

Since stepping down from Related Companies, the firm he founded, and launching Related Ross in 2024, Ross has zeroed in on West Palm Beach, where he’s building Class A offices and luxury condos, all with the mission of luring blue-chip companies with some early successes to tout. J.P. Morgan Chase, Wells Fargo and Goldman Sachs have signed leases at his properties. 

“This investment reflects our continued belief in the strength and long-term potential of Florida’s Gold Coast,” per a statement from Related Ross about the Broward County purchase.

Update: The story was updated to include statements from the buyer and seller.

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