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2427 S. Las Vegas Boulevard, Las Vegas, Nevada 89104 — Now Accepting Offers to Purchase TABLE OF CONTENTS

04 Investment Summary

08 Property Overview

11 Investment Highlights

12 About the Property

18 Area Overview

23 Sale Comparables

This Confidential Offering Memorandum (the “Memorandum”) is being delivered exclusively by Colliers International (the “Agent”) to a party who may be interested in the acquisition of the Fee Simple interest in 2427 Las Vegas Boulevard, Las Vegas, Nevada 89104 (the “Property”), described in this Memorandum. This is a private offering, made only by delivery of a copy of the Memorandum to the recipient (the “Recipient”). By accepting this Memorandum, the Recipient agrees to comply strictly with the terms and conditions of the Confidentiality Agreement previously executed and delivered to the Agent by the Recipient with respect to this Memorandum and all information contained herein, and to use this Memorandum only for the purpose of evaluating the offering made hereby.

The material contained in this Memorandum is provided solely to assist the Recipient in potential purchase of the Property. Neither the Agent nor any affiliates or client of the Agent which term includes related entities, the owners of any equity interest in the Property, (“Owner”), the manager of the Property (“Manager”), and any officers, employees and agents of any such parties make any representations or warranties with regard to the accuracy or completeness of the information contained herein. This Memorandum may include statements and estimates provided by the Agent, the Owner, or the Manager with respect to the anticipated future performance of the Property. Nothing contained in this Memorandum should be construed as a representation as to the future performance of the Property, and the Recipient acknowledges and agrees that any statements or estimates relating to future performance reflect various assumptions concerning the Property’s anticipated results, which may or may not prove to be correct. No representations are made as to the accuracy of such statements and estimates, and none of the Agent, the Owner, the Manager, or any related entities shall have any liability with respect to or arising from any inaccuracy in such statements or estimates. Statements made in this Memorandum as to the content of any contract or other document referred to, are not complete or definitive descriptions, but summaries or portions thereof. Each such statement is qualified by its reference to the full text of the contract or document, copies of which will be made available by the Agent to Recipient upon request. In addition, not all contracts or other documents, which may be relevant, have been summarized or referenced in this Memorandum. This Memorandum is being delivered by the Agent to a prospective purchaser with the understanding that it will independently investigate those matters which it deems appropriate in evaluating the Property and will rely solely on its own investigation in determining whether to purchase the Property.

This Memorandum does not constitute an offer to sell, or a solicitation of an offer to buy, an interest in the Property in any jurisdiction in which, or to any person for which, such offer, sale, or solicitation would be unlawful. Except where otherwise indicated, the information contained in this Memorandum has been prepared as and no obligation is assumed to supplement or modify the information to reflect subsequent events or conditions. Nothing contained in this Memorandum may be construed to constitute legal or tax advice to a Recipient concerning the Property or purchase of the Property.

More detailed information regarding the expected terms, conditions, and timing of the offering of the Property will be provided in due course by separate communication with each Recipient. The Agent, the Owner and the Manager reserve the right to engage in discussions or negotiations with one or more recipients or other prospective investors at any time without notification to, or other obligation to, any other Recipient or prospective investor. The offering made hereby is subject to a change in terms or termination without notice. The Owner and the Manager will remain free to operate the Property in their sole and absolute discretion during the evaluation and offering process, including the taking of such actions, whether within or outside of the ordinary course of business, which the Owner or the Manager shall deem necessary, prudent or desirable.

The Agent reserves the right to require the return of this Memorandum and any other material provided to the Recipient at any time. Acceptance of this Memorandum by the Recipient constitutes acceptance of the terms and conditions outlined above.

Chris Clifford Steve Neiger, CCIM Brett Rather +1 702 277 0390 +1 702 592 7187 +1 702 575 1645 [email protected] [email protected] [email protected] License # NV-S.0067842.PC License # NV-S.0078706.LLC License # NV-S.0174245.LLC THE GATEWAY TO A NEW DOWNTOWN. 2427 S. Las Vegas Boulevard, Las Vegas, NV 89104

LAS VEGAS BOULEVARD

SAHARA AVENUE INVESTMENT SUMMARY

Introducing a once-in-a-lifetime opportunity to own the hard corner of an intersection on the world-famous Las Vegas Strip.

As exceptional as it is rare, this opportunity includes institutional- grade income from its anchor, a ±17,329 square foot Walgreens and a significant value-add component, at just 42% occupied.

±37,499 square foot building on Las Vegas Boulevard

SAHARA AVENUE Colliers International 05 THE GATEWAY on the Strip

LAS VEGAS BOULEVARD

SAHARA AVENUE INVESTMENT SUMMARY This ±1.82 acre parcel also includes a freestanding parking garage, additional income via Purchase Price: BEST OFFER electronic billboard contracts, a large upper deck patio, and Year 1 Net $2,469,000.00 one of the most valuable Operating Income: privilege licenses in the world, an

Year 3 Pro Forma unrestricted gaming license, $3,512,000.00 Net Operating Income: for a defined area within the existing vacant space. Occupancy: 42%

Total Square Footage: 37,499 SF*

Square Footage Occupied: 17,329 SF * ±37,499 SF includes ±2,023 SF Square Footage Vacant: 20,170 SF of mezzanine space

Parking Ratio: 4.24 : 1,000

Colliers International 07 Located on Las Vegas Boulevard

THE GATEWAY LAS VEGAS BOULEVARD on the Strip

SAHARA AVENUE

08 The Gateway on the Strip — 2427 S. Las Vegas Boulevard, Las Vegas, NV 89104 PROPERTY OVERVIEW

LOCATION PARKING Hard Northeast Corner of Sahara Ave. Parking Garage: 132 stalls and Las Vegas Blvd. (The Strip) including 4 handicap Las Vegas, Nevada Surface Parking: 27 stalls, including 3 handicap ACCESS Sahara Ave: Ingress & Egress PARCEL Las Vegas Blvd: Ingress & Egress APN: 162-03-422-001 ±1.82 Acres, ±79,279 Square Feet TRAFFIC COUNTS Total: 106,500 cars per day YEAR BUILT (Sahara Ave: 70,500, Las Vegas Blvd.: 36,000) 2015

IMPROVEMENTS ZONING ±37,499 square foot building and a General Commercial District (C-2) 132 stall parking garage on ±1.82 Acres

Colliers International 09 INVESTMENT HIGHLIGHTS

42% OCCUPIED | INSTITUTIONAL GRADE INCOME WITH VALUE-ADD COMPONENT

• Anchored by Walgreens on a long-term lease (through April, 2040).

• Tremendous value-add potential with several vacancies to be leased.

SIGNALIZED, HARD-CORNER INTERSECTION | LARGE ELECTRONIC BILLBOARD | ON WORLD-FAMOUS STRIP

• Parcel is the hard Northeast corner of the Las Vegas Strip intersection at Sahara Avenue, withnessing over 106,000 cars per day.

• Large electronic billboard provides phenomenal exposure as well as an additional stream of income.

• A patio with a view – second floor space includes a large wraparound patio that overlooks Las Vegas Boulevard.

10 The Gateway on the Strip — 2427 S. Las Vegas Boulevard, Las Vegas, NV 89104 UNIQUE ASSETS WITHIN PROPERTY | MULTIPLE ASPECTS OF APPRECIATION

• A freestanding parking garage on the Las Vegas Strip in immediate proximity to major new attractions, such as the new City of Las Vegas Archway.

• An unrestricted gaming license for portions of the second floor of the vacant space.

• Huge growth potential in both size and revenue with the exterior electronic billboard.

LONG-TERM GROWTH TRAJECTORY | IRREPLACEABLE REAL ESTATE | HUNDREDS OF MILLIONS IN INVESTMENT

• 80-foot City of Las Vegas Archway (finished November, 2020) to bringthousands of new pedestrians to intersection every day.

• $125 million in roadway improvements (currently underway) on Las Vegas Blvd. at Sahara proceeding north.

• Request For Proposal out for several pedestrian bridges to be constructed at intersection.

Colliers International 11 ABOUT THE PROPERTY

2427 S. Las Vegas Boulevard, Las Vegas, NV 89104 THE MOST CONVENIENT, ACCESSIBLE, FREESTANDING GARAGE ON THE LAS VEGAS STRIP!

This is the one opportunity to get in on the ground floor (and second floor) of a resurgence on the most famous boulevard in the world. FIRST FLOOR

SUITE 110 STAIRS ±2,156 SF plus an additional MAIN SUITE 110 ±1,163 SF mezzanine space ENTRANCE

SUITE 120 Mezzanine Space ±2,829 SF SUITE 120 SUITE 110 plus an additional mezzanine ±860 SF mezzanine space

SUITE 120 mezzanine

ABOUT THE VACANCIES Not To Scale. For Illustration Purposes Only. FIRST FLOOR SECOND FLOOR

JUNIOR ANCHOR SPACE ±13,162 SF with an additional ±1,603 SF of patio; includes elevator and escalator access. Grandfathered Unrestricted Gaming License Suitability (for a portion of the second floor). Patio Area ±1,603 SF

SECOND FLOOR

Colliers International 15 ANCHOR TENANT PROFILE Walgreen Co. is the second-largest pharmacy store chain in the U.S., operating some 9,560 mostly freestanding Walgreens stores in all 50 US states, the District of Columbia, the Virgin Islands, and Puerto Rico. Walgreen Co. is the brand face of Walgreens Boots Alliance, a company with a worldwide reach. For the US subsidiary, prescription drugs account for about 70% of sales; the rest comes from general merchandise, over-the-counter medications, cosmetics, and groceries. Most Walgreens stores offer drive-through pharmacies and one-hour photo processing. Walgreen acquired the Swiss-based Alliance Boots to form Walgreens Boots Alliance in 2014.

2 ND Largest 9,560 Ranked 19th Pharmacy Store Chain in Walgreens Pharmacies Walgreens Boot Alliance United States in Fortune Global 500

Colliers International 17 AERIAL OVERVIEW

Now Accepting Offers to Purchase 2427 S. Las Vegas Boulevard, Las Vegas, NV 89104

SITE

Colliers International 19 AREA OVERVIEW

2020 Renovations

THE STRAT ROADWAY IMPROVEMENTS $140 million $125 Million of roadway in renovations improvements underway on Las Vegas Boulevard from Sahara Avenue north

THE SAHARA THE CITY OF LAS VEGAS $100 million 80 feet archway constructed in improvements

ABOUT THE LOCALE 2021 and Beyond

LAS VEGAS RESORTS WORLD CONVENTION CENTER The grand opening of Las Vegas Convention Center Resorts World in 2021 opening it’s front doors at Las Vegas Boulevard

THE CITY OF LAS VEGAS PEDESTRIAN BRIDGES 80 feet archway constructed Brand new pedestrian bridges THE GATEWAY planned at Sahara Avenue and Las Vegas Boulevard on the Strip

Colliers International 21 THE GATEWAY on the Strip

SITE SALE COMPARABLES

Walgreens Strip – Income Comp World’s Largest Souvenir Shop – Land Comp Address: 3765 S. Las Vegas Blvd, Las Vegas Address: 2400 S Las Vegas Blvd., Las Vegas Price: $38,000,000 Price: $50,000,000 Sale Date: Dec, 2019 Sale Date: Oct., 2016 Cap Rate: 5.23% Cap Rate: NA Building SF: 14,688 Building SF: 35,555 SF Land Size: 0.39 Acres Land Size: 1.99 acres Rent PSF: $135 Rent PSF: unknown Price PSF: $2,587.00 Price PSF: 1,406.27

Walgreens Miami – Income Comp Address: 509 Collins Ave., Miami FL Price: $33,050,000 Sale Date: Aug, 2019 Cap Rate: 4.9% Building SF: 22,875 Land Size: 0.35 Acres Rent PSF: $71 Price PSF: $1,445

Colliers International 23 LAS VEGAS MARKET OVERVIEW Las Vegas #1 Trade Show Destination for 25 consecutive years -Trade Show News Network #3 and #9 Largest Convention Centers in the U.S. are located in Las Vegas Convention Centers While Las Vegas has historically been known as a gaming destination, the city’s diverse non-gaming allure continues to strengthen and has far surpassed gambling 70,700 jobs and generates more than demand. One such demand driver is the unparalleled convention and meeting space capacity available throughout the city. In 2018, Las Vegas held over 21,000 $11.1 billion in economic impact. conventions and hosted over 6.5 million convention delegates.

The Las Vegas M.I.C.E . (meetings, incentives, conferences, and events) sector Las Vegas also hosted 3 of the top 10 and 6 of the top fifteen largest conventions/trade shows held in the U.S.

Las Vegas visitation numbers hit a new peak of 42.9M visitors in 2016, a 10% increase over its pre-recession peak.

There was a 17.8 increase in International visitation from 2013-2015. McCarran International Airport has benefited from the increased visitation, making it the No. 30 busiest airport in the world in 2018. LAS VEGAS AREA OVERVIEW

Clark County, the most populous of Nevada’s 17 counties, is home to more than 2.3 million residents, about 75.8% of the state’s population. The estimated median household income is approximately $57,189. The city of Las Vegas sits at the heart of Clark County and is internationally renowned as the world capital of entertainment. Las Vegas’ gaming, dining, shopping and business conventions are major attractions for national and international visitors. Las Vegas has approximately 149,158 hotel rooms.

LAS VEGAS ECONOMIC TRENDS (Las Vegas Convention and Visitors Authority)

Statistic 2014 2015 2016 2017 2018

Visitor Volume 41,126,512 42,312,216 42,936,109 42,208,100 42,116,800

Gaming Revenue $9.5bn $9.6bn $9.7bn $10.8bn $10.25bn

Room Occupancy 86.8% 87.7% 89.1% 88.6% 88.2%

Average Daily Room Rates $116.73 $120.67 $125.96 $129.05 $128.85

Convention Delegates 5,169,054 5,761,366 6,310,616 7,259,100 6,501,800 Over 42.1 million people visited Las Vegas in 2018.

Total En/Deplaned Passengers 42,878,346 45,389,074 47,435,640 48,500,194 49,716,584

Room Inventory 150,126 149,612 149,339 147,268 149,158 NHL Expansion The Las Vegas Raiders 20,000 Seats T-Mobile Arena hosts over 150 events per year The relocation of the Oakland Raiders T-Mobile Arena, a multi-use indoor arena on the Las and is the current home of the is anticipated to create a $600+ million economic Vegas Strip opened in April 2016 NHL Vegas Golden Knights impact add 450,000+ incremental visitors and host 45+ events annually

Mandalay Bay LVCC Expansion Convention Center $1 billion public Las Vegas Convention Center is currently undergoing a $2.5 billion, 600,000 recently underwent a 350,000 square foot expansion works project square foot expansion to absorb excess demand and is now one of the largest in North America underway to modernize and expand Las Vegas vehicular infrastructure

Steady Growth MSG Sphere The University continues to grow with a total student A revolutionary new 18,000-seat venue for Las Vegas Ballpark headcount of 30,457 (2018) concerts, sports and live entertainment that will be hosts this Triple-A professional baseball team completed in 2020. in Summerlin

LAS VEGAS HIGHLIGHTS Colliers International 27 Irreplaceable intersection-corner real estate on the most THE GATEWAY famous street in the world. Treasured grandfathered unrestricted gaming license. A monetized LED billboard on on the Strip the Las Vegas Strip with tremendous revenue and value- add potential. Rare unregulated parking garage on Las Vegas Boulevard. The future owner will be buying a property based upon Walgreens’ guaranteed income for the next nineteen years, in a building that is only 42% occupied. Both short term and long term, this may be the best value-add investment opportunity Las Vegas Boulevard has ever seen.

Please contact us to further discuss:

Chris Clifford +1 702 277 0390 [email protected] License # NV-S.0067842.PC

Steve Neiger, CCIM +1 702 592 7187 [email protected] License # NV-S.0078706.LLC

Brett Rather +1 702 575 1645 [email protected] License # NV-S.0174245.LLC