Creation, a fast-expanding national real estate firm with $4.5 billion in active projects nationwide, has announced its expansion into Florida with two major deals in Tampa totaling nearly $135 million in total project value, alongside the opening of its new East Coast office in the city’s Hyde Park Historic District.
After successfully growing its footprint from Arizona to Texas and further into New York and New Jersey, Creation now sets its sights on Florida as the next key market in its national growth strategy. The Tampa investments mark the company’s official entry into the state, laying the groundwork for future developments across Florida and the greater Southeast.
One of the two deals — the acquisition of 5301 and 5319 W. Idlewild Avenue — was completed in partnership with Clarion Partners. The 20-acre site, less than a mile from Tampa International Airport, includes two existing office buildings totaling 176,000 square feet. It is situated in one of the lowest vacancy submarkets in Florida. Creation acquired the site for $30 million in late 2024 and plans to redevelop it into a $75 million industrial complex featuring three new buildings and more than 300,000 square feet of logistics space. Complete redevelopment plans will be announced in the coming months.
The second Tampa project, currently in escrow, is for a vacant site in East Tampa that will be developed in partnership with PCCP and transformed into a $60 million, three-building, state-of-the-art logistics park.
Last month, Creation opened its new East Coast office at 442 W. Kennedy Blvd. in Tampa, which will be led by East Coast Principal Luke Georgiadis. The office is set to be the firm’s hub for expansion across the state and region.
“Our move into Florida marks a pivotal moment in Creation’s continued national growth,” said Bob Agahi, co-founder of Creation, who is also based in Florida. “With Tampa as our launch point, we’re committed to delivering best-in-class logistics and mixed-use projects in Florida and throughout the Southeast. These first steps are foundational to our vision of long-term impact in this region.”
With headquarters in both Phoenix and Dallas, Creation is actively pursuing projects across major Florida markets including South Florida, Orlando, Fort Myers and Jacksonville, with plans to replicate its mixed-use and industrial development strategies across the Southeast, eventually targeting key metro areas such as Nashville and Atlanta.
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