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Narrative <br />Proposed Redevelopment <br />NWC Grey Fox Road & Lexington Ave. <br />+/- 2.50 acres: Guided Commercial 2040 Land Use Plan <br />Developed by: Launch Properties, LLC. (“Master Developer”) <br /> <br />Introduction <br />Launch Properties, Inc. is excited to bring forward a revised retail redevelopment proposal for <br />your consideration for the current industrial-use property at the NWC corner of Grey Fox Road <br />and Lexington Avenue. <br />Historical Background and Setting <br />The Subject Property consists of two parcels totaling 2.5 acres of land with parcel identification <br />numbers 273023410001 (3737 Lexington Avenue North, 1.49 acres) and 273023410004 (1133 <br />Grey Fox Road, 1.01 acres). The owner of both parcels is Store Master Funding III. The current <br />tenant is Pace Industries. <br /> <br />The Subject Property is developed with one 67,750-square foot manufacturing building and is <br />surrounded by asphalt parking/drive areas. The Subject Property was vacant prior to its <br />development in 1964. <br /> <br />Currently the site is adjacent to retail uses on its north and south sides. Arby’s (north) and Cub <br />Foods (south). The short end of the rectangle property fronts Lexington Avenue (approximately <br />250 feet) while the length of the property faces Grey Fox Road (approximately 435 feet).