Summary

The development of a 64,267 sf two-story tilt-wall office building which is 52% pre-leased for a 10.5 year term to Ivie & Associates, Inc. (“Ivie”), a Flower Mound-based marketing communications company specializing in retail marketing services. The location will serve as the corporate headquarters for Ivie. Ivie was recognized in 2004 by the Southern Methodist University Cox School of Business as the sixth fastest growing company in the Dallas-Fort Worth area over the prior three years.

The building is located in Flower Mound, within the 361 acre Silveron Business Park.  Flower Mound is located north of the DFW Airport; approximately 10 minute drive-time. In 2004, Money Magazine ranked Flower Mound as the number one best place to live in Texas and the second best in the entire Western United States.  The town continues to experience above average population growth adding to the current stock of executive housing and up-scale residential subdivisions.

The investment strategy is to construct the building, lease approximately 27,500 sf of remaining space, and then sell the building to an institutional buyer.

The Operator is a full service real estate company with a team of ninety professionals.  The Operator’s core business has historically been tenant representation.  Through these activities, NDC and its investors are afforded access to the early knowledge of tenant leasing requirements offering a potential competitive advantage to achieving the investment objectives of the strategy.