Heritage Park is a 531,348 square-feet of mixed-use development in the core of Downtown Gilbert.
With $3.8B in development, here’s how Creation Equity is changing the industry
Creation Equity has arrived. The investment and real estate development firm led by founding partners David Sellers and Bob Agahi, two well-known real estate developers and investors, said Creation Equity had its highest year of activity on record in 2021 and they have no plans of slowing down in 2022.
With $2.7 billion of new active pre-construction activity in 2021, Creation is one of the fastest growing developers and investors in the country. As a result of their fast-tracked success, the company was recognized as an award-winning developer in both best industrial and best mixed-use project categories by NAIOP and the AZ RED Awards last year.
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What makes Creation Equity stand out from the other developers?
Creation hit the market in 2018 and in four short years has expanded its portfolio to include $3.8 billion of ground-up developments in the major growth corridors of Arizona, Texas, California, Colorado, Tennessee, New York, and New Jersey. While headquartered in Phoenix, Creation opened a second office in Dallas, TX in 2021 and is currently planning on opening a third office in New York City in 2023.
“Our unique vertical development integration strategy includes design, construction, and development, work together to deliver dynamic projects with substantial place-making in each market we’re focused in,” Creation’s Co-founder Sellers said. “The strength of the company is reflective of the sum of its parts.”
At Creation, you’ll find interwoven and inter-disciplinary talents implemented across the many businesses they touch. They believe that each of its associates—no matter their level of experience or time with the company—should be a leader in their given area. Creation supports and encourages the professional development of its employees and develops diverse and dynamic teams who play to each other’s strengths.
“The way we look at different businesses and opportunities as it pertains to development comes from a creative design perspective,” Sellers added. “Our team has the innate ability to see the potential of what can be, and not necessarily what already is.”
What’s on the horizon for Creation?
While the bulk of their development activity up to now has been focused on industrial and logistics, Creation is expanding its portfolio in 2022 with nearly $1.5 billion in mixed-use office, retail, and multi-family developments with projects like Heritage Park (Gilbert, Ariz.), Southbridge (Scottsdale, Ariz.), and Fourteen Hundred (Tempe, Ariz.). Creation continues to build one of the most impressive real estate development and investment platforms in the country.
Creation’s logistics and industrial portfolio is representative of the major growth that these sectors are currently experiencing. In Goodyear, Ariz. construction is currently underway for the 2.7 million square-foot Airpark Logistics Center, valued at $400 million and, in Buckeye, Creation will soon start development on Ten85, a new 4.7 million square-foot logistics park which will be its second large-scale industrial project in Buckeye, Ariz.
On the hospitality investment side of its business, Creation continues to build on its partnership with Evening Entertainment Group (EEG). They recently announced the acquisition of an infill redevelopment site in Nashville, Tenn. on the famous Broadway strip where they will develop a four-story 30,000 square-foot Bottled Blonde restaurant and bar concept with a soon to be announced major country music star partner. In Houston, they will develop a 20,000 square-foot Backyard restaurant and bar.
Close to completion, Miami, Fla. and Fort Worth, TX locations for the popular Bottled Blonde and Backyard concept are set to open in Q1 2022. Creation and EEG will also be announcing a prominent multi-unit concept and development on the legendary Las Vegas Blvd. strip in 2022.
Creation has also partnered up with Celebrity Chef Scott Conant, host of the Food Network’s hit show Chopped, to open two successful restaurants in Metro Phoenix – Mora and Americano. Creation and Conant will be opening a second Americano in Buckhead outside of Atlanta, GA later this year.
“In addition to the developments and partnerships mentioned above, Creation has invested in and co-developed several startup companies directly and in conjunction with venture capital funds,” said Agahi, Creation’s co-founder. “The principals of Creation are currently the co-founders of five startup companies ranging from an alternative plant-based food production company to an invitation-only restaurant technology platform launching out of Miami.”
To solidify its diverse portfolio, Creation also owns a minority stake in four European soccer clubs located in Denmark, France, Belgium, and The Netherlands.
“We’re just scratching the surface,” Agahi emphasized. “Creation is on course to have one of the most diverse investment platforms in the country. From real estate to hospitality to start-up businesses, we have an incredibly talented team that can execute on all fronts. He added, “We’re actively pursuing many private equity and alternative investments and look forward to rapidly growing our business interests.”