Related Ross Expands West Palm Beach Development Pipeline
Yoann Dorat
February 20, 2026
2 min read
Related Ross Expands West Palm Beach Development Pipeline
In West Palm Beach’s core, Related Ross acquired two adjoining commercial parcels at 1865 North Flagler Drive and 304 West Pine Street in a deal valued at $32 million. The Temple Israel of West Palm Beach sold the land, which includes a surface lot, to the developer as part of its broader urban growth strategy along the downtown corridor. Related Ross has already lined up construction financing for a condo project on the site, pointing to continued institutional confidence in South Florida’s luxury residential build-to-sell sector.
High-End Residential Sale Sets Local Price Benchmark
A notable residential transfer in Palm Beach County saw investor Thomas Frist and his wife Julie sell their Tangier Avenue residence for $15.4 million to tech executive Donald Fornes and designer Lauren Fornes. The 5,600-square-foot home traded above its original decade-old purchase price, underscoring persistent demand for trophy properties in the affluent enclave despite broader market inventory increases.
Miami Development Site Changes Hands
In Miami, real estate activity included a 1.3-acre development site near Florida International University selling for $22.5 million to Provident Resources Group of Baton Rouge. The new owner plans a 20-story student housing complex with more than 200 units and over 800 beds, reflecting ongoing investor interest in purpose-built rental assets near major educational hubs.
Industrial Asset Sale Marks Delray Beach Investment
A roughly 59,200-square-foot warehouse on Southwest Fourth Avenue in Delray Beach traded for $17.2 million, a significant step up from its 2002 sale price. The purchase by an affiliate of Faropoint Ventures illustrates continued capital flow into South Florida’s industrial space as occupiers and investors chase logistics real estate amid tight supply.
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Market Context
These transactions signal varied investor strategies across South Florida, from waterfront condo site play to student housing and industrial acquisitions. While luxury home sales stay robust, developers and institutional buyers are increasingly targeting transitional assets and land positions that can absorb rising construction costs and evolving tenant demand. Demand dynamics continue to split between high-end owner-occupied product and institutional-scale rental or adaptive projects.
