Creation will build $200 million in industrial developments across three sites in New York and New Jersey.

The Arizona based firm has been pursuing opportunities in the tri-state area since early 2021, attracted by underlying market fundamentals, population and employment trends and high barriers to entry. Last month, the firm hired Luke Georgiadis, Vice President of Transactions, who will continue to grow Creation's footprint on the East Coast and its New York City office opening in early 2023. These first three projects by Creation were done as part of a $1 billion joint-venture portfolio with institutional investors advised by J.P. Morgan Global Alternatives.

Creation began site work last week on Baylis 495 Business Park, a 103,500-square-foot, Class-A warehouse/distribution center in Melville, NY. The 8.18-acre site is situated approximately one mile south of the Long Island Expressway, Long Island's primary trucking route, between Route 110 and Pinelawn Road. Demolition is now underway on the existing dilapidated office building and a formal groundbreaking is planned for next month. Creation pre-leased the site to Keurig Dr. Pepper on a long-term basis at a record-breaking rental rate. Completion is expected in late summer 2023.