Related Ross has acquired the Coral Springs office campus of payments processor Fiserv for $36.5 million in a sale-leaseback deal.
Records show CS Office Owner, an affiliate of Related Ross, bought the 21.8-acre site at 4000 Coral Ridge Drive, 3975 Northwest 120th Avenue and 11900 Northwest 41st Street from an affiliate of Fiserv. The deal includes $18.3 million of seller financing, according to real estate database Vizzda. Fiserv holds a lease running through March 2029, according to Vizzda.
The properties include a two-story, 108,000-square-foot building built in 1999 and a one-story 98,000-square-foot building built in 1965, according to Vizzda. The property also has 2.1 acres of vacant commercial land.
The deal marks a southward expansion for West Palm Beach’s largest office landlord. A spokesperson for Related Ross was not immediately available to comment on the plans for the property, or future acquisitions in Coral Springs and Broward County.
Billionaire chairman Steve Ross spun Related Ross out of his New York-based Related Companies in 2024, with the new company to focus exclusively on South Florida projects. Since then, Related Ross’ portfolio has focused largely on Palm Beach County, particularly West Palm Beach, where Ross is building millions of square feet of office towers.
Last year, Ross, Wexford Real Estate Investors and the Ardid family’s Key International bought WPTV’s studio and office building in West Palm Beach for $40 million in another sale-leaseback deal.
Coral Springs, a northwest suburb of Broward County, saw a flurry of commercial investment last year. In November, Coral Gables-based Maven Real Estate bought the Whole Foods and Home Depot-anchored Atlantic Crossings shopping center for $40.5 million. That same month, JPMorgan bought the Shoppes at Heron Lakes for $53.7 million. The 146,000-square-foot complex’s tenants include Crunch Fitness, Lefty’s Tavern & Grille and the Fish Joint.
