Related Ross acquired the Coral Springs office campus of payments processor Fiserv for $36.5 million in a sale-leaseback transaction, according to an April 2 announcement.
The acquisition is significant as it marks a southward expansion for Related Ross, which has primarily focused its portfolio on Palm Beach County since its formation. The deal includes three parcels at 4000 Coral Ridge Drive, 3975 Northwest 120th Avenue, and 11900 Northwest 41st Street. Records show CS Office Owner, an affiliate of Related Ross, completed the purchase from a Fiserv affiliate.
According to real estate database Vizzda, the transaction involved $18.3 million in seller financing and Fiserv will continue to lease the property through March 2029. The site covers approximately 21.8 acres and includes two buildings: a two-story building with about 108,000 square feet built in 1999 and a one-story building with roughly 98,000 square feet constructed in 1965. There is also an additional parcel with about 2.1 acres of vacant commercial land.
A spokesperson for Related Ross was not immediately available to comment on future plans for the property or additional acquisitions in Coral Springs or Broward County.
Steve Ross spun off Related Ross from his New York-based Related Companies in 2024 to focus exclusively on South Florida projects. Since then, the company has concentrated on West Palm Beach developments and participated last year in another major sale-leaseback acquisition—the WPTV studio and office building—alongside Wexford Real Estate Investors and Key International for $40 million.
Coral Springs has seen increased commercial investment recently; Maven Real Estate purchased Atlantic Crossings shopping center for $40.5 million last November while JPMorgan acquired Shoppes at Heron Lakes—a complex housing tenants such as Crunch Fitness—for $53.7 million that same month.
