Stephen Ross Of Related Ross Acquires Two Office Buildings In Coral Springs For $36.5M

The transaction involves two office buildings located at 4000 Coral Ridge Drive and 3975 Northwest 120th Avenue in Coral Springs. The total sale price of the properties was $36,500,000, covering a combined square footage of 205,628. The price per square foot was calculated at $178.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $36,500,000
• Buyer: Stephen Ross - Related Ross
• Seller: First Data Corp
• Square Footage: 205,628
• Price per Square Foot: $178
• Development Site Size: 2.13 acres
• Lease Details: Fiserv remains as a tenant under a three-year lease
• Financing: $18.25 million in seller financing
• Coral Ridge Building Date: 1965 with a 1990 expansion
• 120th Avenue Building Opening: 1999

Stephen Ross, representing Related Ross, acquired the properties from First Data Corp, a subsidiary of Fiserv, which continues to occupy the spaces under a lease agreement. The deal not only involved the office buildings but also included a development site located at 11900 NW 41st St.