Ross Expands in Boca Raton with $124-Acre IBM Facility Purchase

Stephen M. Ross's Related Companies has expanded its presence in Boca Raton by purchasing the 124-acre former IBM facility, known as the Boca Raton Innovation Campus (BRIC). The purchase adds 1.7 million square feet of offices to Ross's Palm Beach County portfolio.

The campus includes two connected buildings that are over 90% leased, with D-Wave Quantum having relocated its headquarters from Palo Alto, California. Ross sees the expansion as a 'strong growth opportunity for South Florida,' providing companies in defense tech, technology, and financial services an alternative to West Palm Beach.

Ross has invested over $10 billion in Palm Beach County since 1998, with his portfolio including more than 3.2 million square feet of existing or in-construction offices, five apartment buildings, and tens of thousands of square feet of stores, wellness centers, and restaurants.