Cove Rogers Business Park 73 DST
Fulshear, TX
| Asset Class: | Multi-Tenant |
| Leverage: | 0% - All-Cash/Debt-Free |
| Location(s): | Fulshear, Tx |
| Minimum Investment: | $25,000 |
| Current Distribution: | Monthly/Inquire |
| Offering Type: | DST |
| 1031 Exchange Qualified: | Yes |
Property Description
Rogers Business Park 73 DST is an all-cash/debt-free offering that consists of a 96.41% occupied 83,669 square foot, multi-tenant flex industrial and mixed-used center. The property is strategically located along FM 359 and features brand new leases and dynamic tenancy. Sitting at the corner of Rogers Rd and FM 359, just north of downtown Fulshear, the Property is strategically positioned in the direct path of growth. Fulshear is also part of the Houston MSA, which saw the second- largest population spike among major metros in the U.S. between the summers of 2021 and 2022, trailing only the Dallas-Fort Worth area, according to an analysis of census data released earlier this month by the Greater Houston Partnership.
MSA Details
The Houston area, defined as a nine-county region that includes suburbs such as Sugar Land and The Woodlands, had a population gain of about 124,300 between July 1, 2021, and July 1, 2022, according to the analysis by the Greater Houston Partnership, which is an economic development organization. The year-to-year increase was the region’s most significant since 2016 and represented a rebound from relatively slow growth during the early stages of the COVID-19 pandemic, with the Houston area seeing below-average gains of about 75,000 residents during each of the previous two years. The analysis attributed two-thirds of Houston’s most recent population growth to net immigration – with the region seeing more than 85,000 people move in from other parts of the country and world.
Property Highlights
- All-Cash & Debt-Free Offering
- Located in Texas - a pro-business and income tax free state
- 96.41% occupied with recent tenant lease extensions with renewals, showing strong commitment to the location
- Purchased below replacement cost
- 721 exchange rollup as a potential exit strategy
- Within 1 mile of the Property, there are 7 additional master-planned communities being developed, set to deliver over 9,000 new homes
Source: Brochure
The market information provided above may not predict the future performance of the property.
*Distribution is not guaranteed and is subject to available cash flow. For further information about cash flow distributions from operations and capital events, please refer to the offering’s Private Placement Memorandum.
