Phoenix-based Creation Equity enters Houston industrial market with 2 northwest projects

Phoenix-based Creation Equity is simultaneously developing two different industrial projects along Highway 6/FM 1960 in northwest Houston, bringing its total local commercial real estate projects to three overall.

Both Houston Point 290, a three-warehouse industrial park, and the Cypress Creek Distribution Center started construction in December and are expected to be completed by the end of the year.

The 149,918-square-foot Building A is a rear-load warehouse with 210-foot building depth, 31 dock doors, a 185-foot truck court and 30 trailer spots.

Building B is 106,187 square feet with 145-foot building depth and 42 dock doors. It shares a 185-foot truck court with the 126,971-square-foot Building C, which has 170-foot depth and 38 dock doors.

All buildings will be able accommodate multiple tenants.

“In the rear-load buildings, it’ll be smaller, service-based tenants,” said Taylor Mitcham, principal at the company. “And then on the larger spaces of the front-load building, for instance, it’ll be more logistics- and distribution-based tenants or third-party logistics.”

Creation acquired the property from two sellers last summer, Mitcham said. One of the sellers, real estate investment and development firm Kensinger Donnelly, kept about 2.2 acres on the western corner, which can accommodate up to three ground lease tenants, according to Frank Donnelly, president of Kensinger Donnelly. The company has been in talks with a gas station, fast food restaurant and a car wash among other retail tenants, he said.

“I think it’ll be a good amenity for the users at our project,” Mitcham said. “And I think that Kensinger Donnelly and the retail user would think the same way about our projects as well.”

Creation’s other industrial project, Cypress Creek Distribution Center, is a roughly 148,000-square-feet rear-load building underway at 9910 Cypress Creek Parkway. It has 32-foot clear height, 175-foot building depth, 42 dock doors, 153 parking spaces and a 125-foot truck yard.

It can accommodate four to six tenants, Mitcham said.

Phoenix-based LGE Design Build is building both projects. Richard Quarles, Joseph Berwick, David Holland and Eliza Klein with JLL are charged with leasing the properties.

Creation, which was founded in 2018, previously developed Bottled Blonde, a pizzeria and bar at 4901 Washington Ave., which opened in September 2020.