Creation Launches DFW Industrial Projects
Plans call for more than 700,000 square feet across two developments.
Real estate developer Creation has finalized plans for two industrial projects in metro Dallas-Fort Worth that will ultimately total 737,000 square feet. One of the properties will be in Dallas, the other in Fort Worth.
635 Exchange, the larger of the two at about 600,000 square feet, will consist of three buildings on a 36-acre site at the intersection of I-35E and I-635 in Dallas. Creation is partnering with PGIM Real Estate to develop the property.
Designed and constructed by LGE Design Build, 635 Exchange is slated to break ground in the summer of 2025, with SVPs Sarah Ozanne and Mac Hall and VP Lena Thomas of Stream Realty managing its leasing efforts. The facilities will feature flexible building heights of 32 to 36 feet, trailer parking and immediate access to transportation corridors.
In north suburban Fort Worth, Dallas-based Creation is poised to break ground on Triad 820, a three-building, 137,000-square-foot logistics center developed in partnership with a real estate fund advised by Crow Holdings Capital. Located on 9 acres along Anderson Boulevard in Haltom City, the project is a follow-up to Creation’s nearby 820 Exchange, which traded to CBRE Investment Management in 2021.
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The project will include 28-foot clear heights, front-load units, 125-foot-plus truck court depths, two storefronts per building, EV charging stations and secured yards. LGE Design Build will design and build this property as well, with an anticipated completion by late 2025. NAI Robert Lynn will oversee the leasing efforts.
The two developments represent Creation’s latest efforts in its home state, which is one of eight states in which the company is active. Since 2020, Creation has started development of about 1.3 million square feet in Dallas-Fort Worth and Houston, with plans to enter the Austin, Texas, market later in 2025. The company will also diversify beyond industrial projects next year, venturing into mixed-use developments in Texas for the first time.
DFW’s strong industrial market
Industrial development in the DFW market is still on fire, coming in second nationwide for square footage underway (after Greater Phoenix), with 16.4 million square feet under construction as of October, according to CommercialEdge data. Phoenix totals 28.1 million square feet and is also a market in which Creation has been active, recently selling the 301,000-square-foot Midway Commerce Center for $57 million.
As a percentage of existing stock, DFW’s industrial development isn’t quite as high, coming in ninth nationwide at 1.8 percent, CommercialEdge reported. Again, Phoenix is far and away the most active market, with development totaling 6.7 percent of existing stock. DFW also has plans in the works for 5.1 percent more industrial space (including projects underway), compared with 15.8 percent for Phoenix.
Investors have taken note of DFW, however, CommercialEdge noted. Industrial investment activity in Dallas is $3.8 billion year-to-date as of October, the highest total nationwide, leading such other markets as the Bay Area ($3 billion), Chicago ($2.6 billion) and Houston ($2.5 billion).
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