Creation and joint-venture partner PCCP have started construction on 301 Exchange, a speculative industrial development planned for East Tampa. The project is designed as a 330,000-square-foot industrial park that will be delivered in multiple buildings and is being developed without pre-leasing in place. The total planned investment for the project is reported at $65 million.
The development will consist of three industrial buildings ranging from 100,000 to 129,000 square feet. All of the space is intended for industrial use, aligning the project with logistics and warehouse demand in the East Tampa area. The construction program is structured to bring all three buildings online as part of a cohesive park rather than as standalone assets.
301 Exchange is situated on a 51-acre parcel at the intersection of U.S. 301 and East Sligh Avenue. The location offers immediate proximity to major regional transportation corridors, sitting approximately two minutes from Interstate 4 with direct access to Interstate 75. This positioning is intended to provide connectivity for distribution users that require access across the broader Tampa region and beyond.
The entitlement process for the site was extended due in part to wetlands located on the property. According to reporting cited from Commercial Search, the entitlement period lasted more than 10 years, reflecting the complexity of obtaining approvals for development on a site with significant environmental considerations. Those entitlements are now in place, allowing the joint venture to move forward with vertical construction.
LGE Design Build has been engaged as both architect and general contractor for 301 Exchange. The dual role gives LGE responsibility for the project’s design as well as oversight of construction activities on the site. The development team is targeting completion of the industrial park by the end of 2027, positioning the property to deliver new industrial supply to the East Tampa market on a multi-year timeline.
For Creation, 301 Exchange represents its first development in Florida. The project marks an expansion of the firm’s platform into the Tampa industrial market through a joint-venture structure with PCCP. As work proceeds, the venture will bring a sizable tranche of speculative industrial space to a location with direct interstate access and long-dated entitlements already secured.
