Real estate mogul Stephen M. Ross is making moves, and your portfolio—or at least the regional economy—is taking notice. The Related Ross chairman and CEO just dropped a major play in the South Florida market by acquiring the entire Boca Raton Innovation Campus (BRIC).
The play
We are talking about a massive 124-acre site, formerly an IBM facility, adding 1.7 million square feet of office space to his already loaded Palm Beach County portfolio. While the price tag is being kept hush-hush, the site’s two main buildings are already over 90% leased, which is a massive W. D-Wave Quantum is the latest big name to call the campus home after jumping ship from Palo Alto.
Ross is clearly betting big that companies in the defense tech, broader tech, and finance sectors want an alternative to the crowded West Palm Beach scene. Real talk: this guy isn’t just playing around. Since 1998, he has dumped over $10 billion into Palm Beach County, including the massive CityPlace complex.
Why it matters
Ross is lowkey reshaping the geography of South Florida business. With over 3.2 million square feet of office space, multiple apartment complexes, and a heavy focus on retail and wellness in West Palm Beach, he’s effectively building the corporate backbone of the region. He’s even throwing $100 million at the Pine Crest School to help draw in more talent. With firms like MSCI and Solomon Partners already signing long-term leases in his nearby properties, it’s giving major 'this is the place to be' energy for any company looking to relocate. Keep an eye on Boca—it’s trending up.
