Andreessen Horowitz to Open West Palm Office for Defense-Tech Bets

Venture capitalist behemoth Andreessen Horowitz is opening an office in West Palm Beach, Fla., which will focus on defense-tech investments. 

The firm, also known as a16z, signed a lease at Related Ross’ CityPlace Tower, according to a representative for the landlord, who declined to provide the size of the footprint. The office, which is scheduled to open early next year, will serve as a regional headquarters for a16z’s $1.18 billion American Dynamism fund, led by general partner Katherine Boyle, the Menlo Park, Calif.,-based firm announced. 

A representative for a16z did not immediately respond to a request for additional details.

The transaction marks another West Palm Beach win for Stephen Ross, Related Ross’ billionaire owner, who has launched a $10 billion development spree to turn the city into a leading tech and finance hub. Wells Fargo, Goldman Sachs and J.P. Morgan Chase have all signed leases at Related Ross-owned office buildings since the onset of the pandemic. 

The lease also marks a return to South Florida for a16z. In 2022, the firm opened an office in Miami Beach to make crypto investments, only to shutter the 8,300-square-foot base two years later — and three years before the end of agreement. 

A16z follows another defense-tech giant, Palantir, which relocated its global headquarters from Denver to Aventura this year. 

Ross purchased CityPlace Tower, where a16z will be based, for $175 million in 2021, according to property records. Built in 2008 at 525 Okeechobee Boulevard, the 18-story building spans 303,519 square feet. The developer is building two more Class A office buildings after obtaining a $772 million construction package last year. 

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