Creation Equity plans $140M business park in Burleson

Creation Equity is bringing its biggest Texas project yet to a suburb south of Fort Worth.

The Phoenix-based developer plans to build a nearly 1.4 million-square-foot business park in Burleson by the end of 2024, with construction expected to begin this year. The project will cost an estimated $140 million, according to a filing with the Texas Department of Licensing and Regulation. That’s approximately $100 per square foot.

The four-building park, at 11501 South Freeway, is the firm’s largest project in the Lone Star State. It also built the nearly 1 million-square-foot 820 Exchange development in Haltom City, a suburb northeast of Fort Worth.

This new complex will also feature about 100,000 square feet of office space. It will have more than 900 parking spaces for cars and trailers and a clearance of 32 to 40 feet.

The large size facilitates several potential tenants and fits within the DFW’s trend of building large amounts of industrial spaces with optimal uses. The Dallas-Fort Worth area entered 2023 with nearly 67 million square feet of industrial projects in the pipeline from last year, making it the most active industrial market nationally. However, this also puts the market at risk of oversupply.

“We wanted to design a project where there was not a high amount of supply, and buildings that could be split, if necessary,” said Taylor Mitcham of Creation Equity.

“Moving forward, with current market conditions, we will be more selective on which markets we focus on in the DFW.”

The firm also plans to begin new projects in Houston and Austin this year.