Related Ross has 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 purchase includes a 21.8-acre site at three addresses: 4000 Coral Ridge Drive, 3975 Northwest 120th Avenue, and 11900 Northwest 41st Street. The acquisition was made by CS Office Owner, an affiliate of Related Ross, from a Fiserv affiliate. The deal features $18.3 million in seller financing and allows Fiserv to remain as tenant under a lease that runs through March 2029.
The properties consist of two main buildings: a two-story, 108,000-square-foot structure built in 1999 and a one-story building measuring about 98,000 square feet constructed in 1965. There is also an additional parcel with approximately 2.1 acres of vacant commercial land included in the transaction.
This move represents an expansion into Broward County for Related Ross, which has been primarily focused on West Palm Beach projects since its formation as a spin-off from New York-based Related Companies by billionaire chairman Steve Ross in 2024. Since then, the company’s portfolio has centered largely on Palm Beach County developments.
In another recent example of its strategy, last year Related Ross partnered with Wexford Real Estate Investors and Key International to acquire WPTV’s studio and office building in West Palm Beach for $40 million through another sale-leaseback arrangement.
Commercial investment activity has increased recently in Coral Springs as well. In November last year Maven Real Estate purchased the Atlantic Crossings shopping center for $40.5 million while JPMorgan acquired the Shoppes at Heron Lakes complex for $53.7 million.
