Key Takeaways
- • Andreessen Horowitz (a16z) signed a 10-year lease for approximately 25,000 square feet at 15 CityPlace in West Palm Beach, occupying the entire 12th floor with move-in slated for 2027.
- • Related Ross secured a record $772 million construction financing package led by Ares Real Estate funds for the two-tower CityPlace development (10 and 15 CityPlace), marking the largest construction loan ever recorded in Florida.
- • The 15 CityPlace tower is a 25-story, 480,000 square foot office building at 550 S. Rosemary Avenue, with groundbreaking completed in March 2026 and expected completion in 2027.
- • Related Ross's leasing momentum reflects institutional confidence in West Palm Beach as an emerging technology and defense sector hub, with half a million square feet of commercial leases signed in 2025 across the Related Ross Office Collection.
- • The CityPlace development positions West Palm Beach as a strategic location for defense technology investment, supported by partnerships involving Related Ross, Vanderbilt University, and Amazon Web Services to build a larger defense tech ecosystem.
Summary
Andreessen Horowitz, the prominent venture capital firm, has leased approximately 25,000 square feet at Related Ross's 15 CityPlace development in downtown West Palm Beach, Florida. The 10-year lease encompasses the entire 12th floor of the 25-story office tower, with occupancy expected upon the building's completion in 2027. This lease represents a significant vote of confidence from one of the nation's leading technology investors in West Palm Beach's emerging role as a business and technology hub.
Related Ross, the West Palm Beach-based development company led by Stephen M. Ross, completed groundbreaking on the CityPlace office towers in March 2026. The dual-tower project—10 CityPlace and 15 CityPlace—will introduce nearly one million square feet of premier office space to the downtown market. In December 2025, Related Ross secured landmark financing for the development: a $772 million construction loan led by Ares Real Estate funds with co-financing from Monarch Alternative Capital and HPS Investment Partners. This financing package represents both the largest in Related Ross's history and the largest construction loan ever recorded in Florida, underscoring institutional confidence in the project's viability.
The a16z lease aligns with a broader strategic effort to position West Palm Beach as a defense technology center. Related Ross, in partnership with Vanderbilt University and Amazon Web Services, is actively working to build a larger defense tech presence in the region. This collaborative ecosystem approach has attracted additional institutional tenants, including BDO and Shutts & Bowen, alongside Related Ross's corporate headquarters expansion within the building. The leasing activity—including half a million square feet signed across the Related Ross Office Collection in 2025—signals sustained institutional demand and validates the developer's long-term strategy for transforming downtown West Palm Beach into a walkable, vibrant mixed-use district that appeals to both technology and professional services firms.
Related Ross, the West Palm Beach-based development company led by Stephen M. Ross, completed groundbreaking on the CityPlace office towers in March 2026. The dual-tower project—10 CityPlace and 15 CityPlace—will introduce nearly one million square feet of premier office space to the downtown market. In December 2025, Related Ross secured landmark financing for the development: a $772 million construction loan led by Ares Real Estate funds with co-financing from Monarch Alternative Capital and HPS Investment Partners. This financing package represents both the largest in Related Ross's history and the largest construction loan ever recorded in Florida, underscoring institutional confidence in the project's viability.
The a16z lease aligns with a broader strategic effort to position West Palm Beach as a defense technology center. Related Ross, in partnership with Vanderbilt University and Amazon Web Services, is actively working to build a larger defense tech presence in the region. This collaborative ecosystem approach has attracted additional institutional tenants, including BDO and Shutts & Bowen, alongside Related Ross's corporate headquarters expansion within the building. The leasing activity—including half a million square feet signed across the Related Ross Office Collection in 2025—signals sustained institutional demand and validates the developer's long-term strategy for transforming downtown West Palm Beach into a walkable, vibrant mixed-use district that appeals to both technology and professional services firms.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.