Related Ross CEO and Miami Dolphins owner Stephen Ross added yet another headquarters to his growing collection within his West Palm Beach office buildings.
:no_upscale():quality(75))
Wells Fargo & Co. signed a 50K SF lease with Related Ross at the One Flagler office building in West Palm Beach to house a new headquarters for its wealth-management business, Wells Fargo Wealth & Investment Management, wealth chief Barry Sommers told Bloomberg.
“West Palm Beach’s strong business climate and expanding economic opportunities align well with our long‑term growth priorities—both in the region and across our organization,” a representative for Wells Fargo said in a statement shared with Bisnow. “Numerous members of WIM’s leader team will continue to be based in New York, St. Louis and Charlotte, North Carolina.”
About 100 employees will relocate to the new office, which opened its doors last year, by the end of 2026. This brings the office tower to 100% leased, a Related Ross representative confirmed to Bisnow.
The move, nearly two years in the making, is just the beginning of an expansion in the area. Sommers told Bloomberg the company plans to hire more employees, specifically looking to attract financial advisers, private bankers, and independent broker-dealers, and may rent additional space.
Wells Fargo is joining a list of tenants at One Flagler, including Vista Investments of Florida, GoldenTree Asset Management and Ocean Sound Partners.
“Wells Fargo is making a bold move by bringing senior leadership and a major office of its wealth‑management business to One Flagler in West Palm Beach,” Related Ross Executive Vice President Jordan Rathlev said in a statement. “It’s a strong sign of long-term confidence in our city and in South Florida’s growth.”
The 25-story building has a 19K SF terrace and green space that overlooks Palm Beach Island, a Greek-style restaurant named Estiatorio Milos, retail space and offices, according to its website.
Related Cos. purchased the site in 2021 for $20M from the First Church of Christ Scientist, West Palm Beach, according to the Vizzda database, before Related Ross spun off into its own West Palm Beach-focused development company led by Ross in 2024.
One Flagler was the first building to open under Related Ross.
:no_upscale():quality(75))
The company, which has 1M SF of office space under construction, spearheaded West Palm Beach’s development — especially after Ross pledged to spend $10B to turn the city into the “Wall Street of the South.”
But the company is looking to claim multiple titles for the region. Related Ross Vice President of Leasing Greg Kuhlman said at a Bisnow event in 2024 that the company was working to expand beyond financial service firms to technology companies and make West Palm the “next Silicon Valley.”
At another Bisnow event in December, Rathlev said the company’s next “big push” for West Palm Beach was in defense tech.
Other Related Ross developments have also attracted headquarters, like 10 and 15 CityPlace, which inked a deal with ServiceNow for 200K SF to host its regional headquarters in September.
Tech firm Visium also plans to open its headquarters at the 477 Rosemary boutique office building at Related’s CityPlace, The Real Deal reported.
