3-building industrial project worth $65M underway in Tampa

Creation Equity, an Arizona real estate development and investment firm, has begun work on the construction of a three-building industrial center in east Tampa.

The 330,000-square-foot project is in its early stages and the firm plans a ceremonial groundbreaking in coming weeks.

301 Exchange, as it will be known, will be built on a 51-acre site, 39 acres of which are designated as wetlands, at the intersection of U.S. 301 and East Sligh Avenue. It will have direct access to both Interstate 4 and Interstate 75.

Plans call for the construction of three rear-load buildings ranging from 100,101 to 129,317 square feet, each with 32-foot clear heights and two points of ingress and egress.

Creation is partnering with the Los Angeles real estate investment firm PCCP on the project.

Luke Georgiadis, principal of Creation’s East Coast division, says in an email sent through a spokesperson that the cost of the project is $65 million.

And while construction is expected to be completed late next year, he says leasing has begun with JLL’s Pete Cecora and Harrison Pithers representing the property.

Creation’s East Coast division is based in Tampa. The firm, which also has offices in Phoenix and Dallas, has expanded its footprint with $4.5 billion in active development projects across eight states, according to a statement.

The firm says in the statement that the East Coast office opened last year and it is pursuing projects across South Florida, Orlando, Fort Myers and Jacksonville.