Billionaire Steve Ross’ office buildings in downtown West Palm Beach played a major role in South Florida’s office leasing market in 2025. His properties at 10 CityPlace and 15 CityPlace were involved in three of the region’s ten largest office lease deals this year.
After stepping back from New York-based Related Companies last year, Ross has focused on developing downtown West Palm Beach through his firm, Related Ross. The company owns or is developing about a dozen office properties in the area. While most landlords struggled to attract out-of-state tenants as the influx of new firms to South Florida slowed after the pandemic, Ross was an exception.
Among this year’s top ten largest leases, Related Ross was the only landlord to secure a new-to-market tenant: ServiceNow, a Fortune 500 technology company led by Bill McDermott and based in Santa Clara, California. ServiceNow pre-leased 211,900 square feet at 10 CityPlace, which is still under construction. The company’s new space will include an innovation hub aimed at supporting tech startups. According to the terms of public grants totaling about $17 million—$13 million from the Florida Department of Economic Opportunity, $2 million from the state, and $2 million from the city—ServiceNow must create 856 jobs within six years; if it fails to hire at least 400 employees, some funds can be reclaimed.
Ross’ efforts have helped insulate downtown West Palm Beach from broader regional slowdowns in office leasing by leveraging his connections with financial service firms and supporting local ambitions to establish “Wall Street South.”
Other notable leases included City National Bank of Florida consolidating its Miami-Dade County offices into a new headquarters in Coral Gables with a lease for 145,000 square feet at 2701 South Le Jeune Road. The bank plans to bring together various divisions and increase staff by 20 percent over the next year and a half.
Cleveland Clinic also signed a major pre-lease for 129,700 square feet at 15 CityPlace for outpatient medical services. In addition to this outpatient center, Cleveland Clinic plans further expansion with an inpatient hospital and additional facilities elsewhere in West Palm Beach.
Modernizing Medicine renewed its lease for nearly 128,000 square feet at Boca Raton Innovation Campus (BRiC), which is owned by CP Group and DRA Advisors. Stearns Weaver Miller extended its downtown Miami lease for almost 97,000 square feet at Museum Tower—a property owned by Moishe Mana who has plans for redevelopment targeting international tech companies.
ADP leased over 78,000 square feet at Waterford Business District near Miami International Airport. Kanner & Pintaluga moved its headquarters within Boca Raton with a lease of nearly 78,000 square feet at The Eclipse project on North Military Trail.
Amazon expanded its presence by leasing space at Wynwood Plaza in Miami’s Wynwood neighborhood—growing from an initial commitment of just over 50,000 square feet to more than 75,000 square feet during the year. This marks Amazon’s first dedicated office space in Miami-Dade County outside industrial or distribution centers.
Nicklaus Children’s Hospital leased more than 62,000 square feet for corporate offices in Coral Gables following Tourmaline Capital Partners’ acquisition of Columbus Center.
Finally, Related Ross itself is expanding within West Palm Beach by opening another office location at the under-construction building at 15 CityPlace with a lease for more than 53,000 square feet.
These transactions reflect ongoing shifts among major tenants and landlords as they adapt their strategies amid changing market conditions across South Florida’s key business districts.
