Investment Summary

• Gray Spear Capital is pleased to offer the opportunity to acquire their latest ground-up development project, FM 529 Business Park, located in Cypress, Texas. The property features 124,500 SF of Class A Office Warehouse space on a 9.21 Acre tract located on FM 529, one of the main arteries in Cypress, TX. FM 529 Business Park is scheduled to be completed in summer of 2020, property features will include 21 ft ceiling height, grade level doors, office/warehouse combo configuration, glass façade, modern industrial construction and a full landscape package. Located 30 miles northwest of Downtown along US 290, Cypress area offers a pro-business culture with a diversified work force and a variety of educational institutions. A historically rural community, the Cypress of today has become one of the most sought-after suburban residential areas in the region thanks to abundant and relatively affordable housing. Cypress is one of Houston’s largest suburbs, with a thriving economy, excellent public and private schools, plenty of local recreational, cultural and entertainment choices and a healthy new housing market. Cypress school districts have broken many records and is one of the largest and most prestigious school districts in the nation. Property features two additional land parcels with excellent frontage on FM 529, a major artery in Cypress, providing future ownership the opportunity to further capitalize on the project via development or sale of these parcels. FM 529 Business Park represents an excellent opportunity for an investor looking to acquire a new construction turn key Class A business park with excellent cash flow in a great location.

Investment Highlights

• Cap Rate 7%
• Net Operating Income $1,141,416
• Target Internal Rate of Return 22-25% Based on a Potential 5-10 Year Exit Respectively
• New Construction - Scheduled Delivery 3rd Quarter 2020
• Located on Major Thoroughfare
• Gross Rent Multiplier 9 years
• Easy Access to Grand Parkway and Highway 6
• Public Water, Sanitary and Sewer Provided by Harris County
• 9.21 Acre Land Parcel
• Add Value by Developing Two Acres of Frontage on FM 529