BOULDER [email protected] [email protected] MIXED USE CAMPUS CONFIDENTIALITY AGREEMENT

BOULDER Crichardson@Logiccre.Com Jotter@Logiccre.Com MIXED USE CAMPUS CONFIDENTIALITY AGREEMENT

10.77 ACRE SITE

4 Acres Pad Site 59,044 SF Availale Availale

10,000 SF Availale

NAP

FOR SALE OFFERING MEMORANDUM

presented by:

CHRIS RICHARDSON, CCIM JASON OTTER Director Director 702.954.4110 702.954.4109 BOULDER [email protected] [email protected] MIXED USE CAMPUS CONFIDENTIALITY AGREEMENT

This Offering Memorandum contains select information pertaining to the business and affairs By acknowledging your receipt of this Offering Memorandum from LCRE, you agree: of 428 & 498 Boulder Hwy., Henderson, NV 89015. This Memorandum was prepared 1. The Offering Memorandum and its contents are confidential; based on information supplied by Seller and Broker. It contains selected information about 2. You will hold it and treat it in the strictest of confidence; and the Property and the real estate market, but does not contain all the information necessary 3. You will not, directly or indirectly, disclose or permit anyone else to disclose this to evaluate the acquisition of the Property. The financial projections contained herein (or Offering Memorandum or its contents in any fashion or manner detrimental to the in any other Confidential Information) are for general reference only. The projections are interest of the Seller. based on assumptions relating to the general economy and local competition, among other factors. Accordingly, actual Seller and LCRE expressly reserve the right, at their sole discretion, results may vary materially from such projections. Various to reject any and all expressions of interest or offers to purchase the documents have been summarized herein to facilitate Property and to terminate discussions with any person or entity reviewing your review; these summaries are not intended to be a this Offering Memorandum or making an offer to purchase the Property comprehensive statement of the terms or legal analysis of unless and until a written agreement for the purchase and sale of the such documents. Property has been fully executed and delivered.

The information contained in this Offering Memorandum A prospective purchaser’s sole and exclusive rights with respect to this is confidential and furnished solely for the purpose of a prospective transaction, the Property, or information provided herein review by a prospective purchaser of the Property. It is not or in connection with the sale of the Property shall be limited to those to be used for any other purpose or made available to any expressly provided in an executed Purchase Agreement and shall be other person without the written consent of Seller or Logic subject to the terms thereof. In no event shall a prospective purchaser Commercial Real Estate (LCRE). The material is based in have any other claims against Seller or LCRE or any of their affiliates or any part upon information supplied by the Seller and in part of their respective officers, Directors, shareholders, owners, employees, upon financial information obtained from sources it deems or agents for any damages, liability, or causes of action relating to this reliable. Seller, nor their officers, employees, or agents solicitation process or the marketing or sale of the Property. makes any representation or warranty, express or implied, as to the accuracy or completeness or this Offering This Offering Memorandum shall not be deemed to represent the state Memorandum or any of its contents and no legal liability of affairs of the Property or constitute an indication that there has been is assumed or shall be implied with respect thereto. While no change in the state of affairs of the Property since the date this the information contained in the Memorandum and any other Confidential Information is Offering Memorandum. believed to be reliable, neither Broker nor Seller guarantees its accuracy or completeness. Due to the foregoing and since the Property will be sold on an “As Is, Where Is” basis, a LCRE has a policy of proactive broker cooperation with the investment brokerage prospective purchaser must make its own independent investigations, projections, and community. If applicable, a cooperating broker fee of the sales price shall be paid at closing conclusions regarding the acquisition of the Property without reliance on this Memorandum to cooperating broker that procures and represents the buyer that acquires this property. or any other Confidential Information. Although additional Confidential Information which If applicable, cooperation does not include brokers that represent themselves as Principals may include engineering, environmental or other reports may be provided to qualified or broker’s whose member of his immediate family is participating in the purchase of the parties as marketing proceeds, prospective purchasers should seek advice from their own property. No broker will be recognized on a prospect that has previously contacted or been attorneys, accountants, engineers, environmental and other experts. contacted by the Seller or the Seller’s representatives.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT LISTING AGENTS FOR MORE DETAILS. CONTENTS

1 EXECUTIVE SUMMARY 3 MAPS, AERIALS, AND PLANS 7 COMPARABLES 9 MARKET OVERVIEW 10 MARKET OVERVIEW BROKERAGE

CHRIS RICHARDSON, CCIM Director 702.954.4110 [email protected]

JASON OTTER Director 702.954.4109 [email protected] BOULDER MIXED USE CAMPUS EXECUTIVE SUMMARY 1

PROPERTY OVERVIEW

Logic Commercial Real Estate has been retained as the exclusive agent to offer 428/498 The subject property is in Henderson and features close proximity to Cadence master- Boulder Hwy. Henderson, NV 89015. The subject property sits along Boulder Highway and planned community, which, when fully built will feature 13,000 homes. Also, nearby points consist of a 10,000 SF pad building with frontage as well as a dual tenant 59,044 SF “big of interest include Union Village, the Galleria shopping area, Lake Mead State Park, and box” building. Also included in the offering is approx. +/- 4 acres of vacant land and a total of Historic Hoover Monument Dam. Boulder Hwy. is a prominent arterial road through 10.77 acres overall. The property features a prominent pylon sign that is on Boulder Hwy. as Henderson to Las Vegas. The property also has close proximity to the 215 Beltway and US well as +/- 350 parking stalls. Boulder Hwy. features traffic counts in excess of 36,700 per day 95/93, as well as proximity to the new I-11 Interstate Freeway connecting to Phoenix, AZ. with the nearby intersection of Boulder Hwy. and Lake Mead Dr. with 38,000 cars per day. The Property is offered for sale all together, but ownership would consider selling individual The pad building was once occupied by Aarons Furniture and the “big box” was occupied by buildings as well as lease opportunities Big Lots and 24-hr Fitness and still has a lot of the improvements developed by both.

The information herein was obtained from sources deemed reliable; however Logic Commercial Real The Estateinformation makes herein no guarantees, was obtained warranties from sources or representation deemed reliable; as to the however completeness Logic Commercial or accuracy Real thereof Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof. BOULDER MIXED USE CAMPUS EXECUTIVE SUMMARY 2

OFFERING DETAILS

ADDRESS: 428 & 498 Boulder Hwy., Henderson, NV 89015 PARKING: +/- 350 Parking Stalls APN: 179-17-201-007 & 010 ZONING & Mixed-Use (MC) City of Henderson OFFERING PRICE: $5,990,000 JURISDICTION: +/- 36,700 CPD along S. Boulder Hwy. PRICE PER FOOT: $88 PSF (Including 4 acres of developable land) TRAFFIC COUNTS: +/- 38,000 CPD along W. Lake Mead Pkwy. BUILDING SIZE: 59,044 SF and 10,000 SF YEAR BUILT: Back - 1979 ACREAGE: 10.77 acres Front - 2004 OCCUPANCY: Redevelopment BUILDING SIGNAGE: Pylon on Boulder Hwy. and above store front

INVESTMENT HIGHLIGHTS

• Boulder Hwy. frontage with excess land Perfect opportunity for charter school, campus, call • Multiple uses available for the property with Mixed-Use zoning center, dealership, and other uses. • Within the Henderson redevelopment corridor • Available as a whole or individually. For sale and for lease Henderson Redevelopment Corridor Incentives for developer assistance and business incentive • Additional Boulder Hwy monument signage opportunity rights Contact Cody Walker for more details • Adjacent to future multi-family site. • Proximity to Cadence Master Planned community Cody Walker • 59,044 SF dual tenant former national tenant building Economic Development Officer • 10,000 SF former national tenant pad building 702.267.1521 • 4.07 acre pad site building [email protected] • Multiple points of ingress/egress

428 & 498 BOULDER HWY.

The Theinformation information herein herein was wasobtained obtained from from sources sources deemed deemed reliable; reliable; however however Logic Logic Commercial Commercial Real Real Estate makesEstate no guarantees,makes no guarantees, warranties warrantiesor representation or representation as to the completeness as to the completeness or accuracy or thereof. accuracy thereof BOULDER MIXED USE CAMPUS OVERALL AERIAL - MAPS AND AERIALS 5

BLACK MOUNTAIN N. BOULDER HWY. // 36,700 CPD INDUSTRIAL PARK

ST. ROSE DOMINICAN HOSPITAL FUTURE MULTI FAMILY

SUBJECT W. LAKE MEAD PKWY. // 38,000 CPD

S. WATER ST.

LA VILLA CASINO ELDORADO US-95 // 85,000 CPD CASINO E. BASIC RD.

HENDERSON TOWNSITE -CONVENTION CENTER -CITY HALL -POLICE HEADQUARTERS -EVENTS PLAZA

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4 ACRES PAD SITE 59,044 SF AVAILABLE AVAILABLE E ASIC D 10,000 SF

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This map is intended for general representation purposes only, may not be to exact scale or exact boundaries.

MAPS, AERIALS, AND PLANS

COMPARABLES 9 MARKET OVERVIEW BOULDER MIXED USE CAMPUS DEMOGRAPHICS 10

POPULATION 1-mile 3-mile 5-mile RADIUS MAP 2017 Population 13,099 78,905 153,046 2022 Projected Population 13,691 84,935 167,486 2010 Census Population 12,733 71,694 134,198 Annual Growth 2017 - 2022 0.89% 1.48% 1.82%

INCOME 1-mile 3-mile 5-mile 2017 Average Household Income $55,034 $70,285 $74,614 2022 Projected Average Household Income $60,671 $78,190 $83,432 2017 Estimated Per Capita Income $21,196 $25,570 $27,597 2022 Estimated Per Capita Income $23,065 $28,169 $30,561

HOUSEHOLDS 1-mile 3-mile 5-mile 2017 Total Households 4,849 28,212 55,522 2022 Estimated Total Households 5,047 30,178 60,354 2010 Census Total Households 4,755 25,963 49,471

HOUSING 1-mile 3-mile 5-mile 2017 Total Housing Units 5,473 30,874 60,837 2017 Owner Occupied Housing Units 2,268 18,030 33,717 2017 Renter Occupied Housing Units 2,581 10,182 21,805 2022 Estimated Total Housing Units 5,702 32,885 65,740 2022 Estimated Owner Occupied Housing Units 2,358 19,217 36,552 2022 Estimated Renter Occupied Housing Units 2,689 10,962 23,802

CLARK COUNTY NEVADA

Clark County is a county located in the U.S. state of Nevada. As of the 2010 census, the population was 1,951,269, with an estimated population of 2,000,759 in 2012. It SouthernSource: LVGEA Nevada Competitiveness Survey, SBERanks Council #1 is by far the most populous county in Nevada, accounting for nearly two-thirds of its residents. Las Vegas, Nevada’s most populous city, has been the county seat since Southwest Quality of Life Graph the county was established. Southern Nevada 36.36% The county was formed by the Nevada Legislature by splitting off a portion of Lincoln Southern California 26.08% County on February 5, 1909, and came into existence on July 1, 1909. The Las Vegas Valley, a 600 sq mi (1,600 km2) basin, includes Las Vegas as well as the other primary Salt Lake City 9.92% population center, the unincorporated community of Paradise. Phoenix 10.57%

Clark County is today known as a major tourist destination, with 150,000 hotel Denver 17.07% rooms. The Las Vegas Strip, home to most of the hotel-casinos known to many around the world, is located not within the City of Las Vegas city limits, but in unincorporated Paradise. It is, however, located in the Las Vegas Valley. Southern Nevada Nevada Ranks #1 Ranks #1 Most Favorable Tax Most Policy Friendly Climate in the West State for Entrepreneurs

Source: SBE Council, Small Business Source: Boyd Corporate Site Policy Index 2016, The Boyd Co., Inc. 2016 Selection Leading Indicator Poll

THE LAS VEGAS STRIP

The Las Vegas Strip is a stretch of South Las Vegas Boulevard in Clark County, Historically, the casinos that were not in Downtown Las Vegas along Fremont Nevada, known for its concentration of resort hotels and casinos. The Strip is Street were limited to outside of the city limits on Las Vegas Boulevard. In 1959 approximately 4.2 miles (6.8 km) in length, located immediately south of the the Welcome to Fabulous Las Vegas sign was constructed exactly 4.5 miles (7.2 Las Vegas city limits in the unincorporated towns of Paradise and Winchester. km) outside of the city limits. The sign is today about 0.4 miles (0.64 km) south of However, the Strip is often referred to as being in Las Vegas. Most of the Strip the southernmost entrance to Mandalay Bay (the southernmost casino). has been designated an All-American Road, and is considered a scenic route at night. Many of the largest hotel, casino, and resort properties in the world In the strictest sense, “the Strip” refers only to the stretch of Las Vegas are located on the Las Vegas Strip. Fourteen of the world's 25 largest hotels by Boulevard that is roughly between Sahara Avenue and Russell Road, a distance room count are on the Strip, with a total of over 62,000 rooms. of 4.2 miles (6.8 km). However, the term is often used to refer not only to the road but also to the various casinos and resorts that line the road, and even One of the most visible aspects of Las Vegas' cityscape is its use of dramatic to properties that are not on the road but in proximity. Phrases such as Strip architecture and lights. The rapidly evolving skyline and constant modernization Area, Resort Corridor or Resort District are sometimes used to indicate a larger of hotels, casinos, restaurants, residential high-rises, and entertainment offerings geographical area, including properties 1 mile (1.6 km) or more away from Las on the Strip, have established it as one of the most popular destinations for Vegas Boulevard, such as the Hard Rock Hotel & Casino, Rio All Suite Hotel and tourists in the United States, and the world. Casino, Palms Casino Resort and Hooters Casino Hotel.

Clark County 2016 Las Vegas Strip 2016 2016 2016 2016 Gaming Revenue 2016 Revenue Hotel Occupancy Employment Growth Conventions Per Year Average Room Rate $9.7B $6.3B 89.8% 3.1% 21,864 $120 Source: Las Vegas Convention and Visitors Authority

Planned Residential Units Commercial Property 13,250 Homes 1.1MM SF

Total Size Parks/Amenities/Open Space 2,200 Acres 450 Acres

CADENCE MASTER PLANNED COMMUNITY

Cadence, a 2,200-acre planned community located in Henderson, NV., has 450 acres of open space, which includes a 50-acre central park and 100-acre sports park. The community offers a bike share program, free Wi-Fi in public parks, and interconnects with the many Henderson bicycle and walking trails such as the Las Vegas Wash Trail and River Mountains Loop Trail. Four school sites, retail centers including a grocery store and other services, and nearby business parks are also part of Cadence. Cadence is being developed by The LandWell Company, the real estate development division of Basic Management, Inc., which has a distinguished history in Southern Nevada. The 13,250-home community offers a variety of residential neighborhoods with a broad cross-section of homes starting from the low $200,000s.

Source: www.cadencenv.com

T-MOBILE ARENA T-Mobile Arena is a multi-use indoor arena on the Las Vegas Strip in Paradise, Nevada. Opened on April 6, 2016, the arena is a joint venture between MGM Resorts International and the Anschutz Entertainment Group. The arena will be the home of the Vegas Golden Knights of the National Hockey League that will begin play in 2017. Since its opening, T-Mobile Arena has primarily been used for entertainment events such as concerts, and has been booked for TOURISM one-off combat sports events, and other annual sporting events The arena is accessed by a new The major attractions in Las Vegas are the casinos and the 2016 Convention Attendees development project known as The Park, with hotels, although in recent years other new attractions have retail and dining space between New York-New begun to emerge. 6.3MM York and the Monte Carlo casino hotels. Most casinos in the downtown area are located on the Fremont Street Experience, The Stratosphere being one Total Visitors in 2016 of the exceptions. Fremont East, adjacent to the Fremont Street Experience, was granted variances to allow bars to * be closer together, similar to the Gaslamp Quarter of San 42.9MM Diego, the goal being to attract a different demographic *Record high than the Strip attracts.

AIRPORTS

McCarran International Airport is the primary commercial airport Lowest Corporate Travel 2016 Total En/Deplaned serving the Las Vegas Valley, a major metropolitan area in the Cost in Western US Air Passengers U.S. state of Nevada. McCarran received a total of 47,435,640 en/deplaned passengers in 2016, a 4.5% increase over the previous year but still below pre-recession levels. It is the 26th 1st 47.4MM busiest airport in the world by passenger traffic and the 8th busiest by aircraft movements. Total Aircraft Total En/Deplaned Movements Passengers in 2016 The airport consists of four runways and two passenger terminals: Terminal 1 and Terminal 3. Terminal 1 is composed of four concourses, namely the A, B, C, and D Gates; Terminal 3 contains 8th Busiest 4.5% the E Gates. A people mover system is in place between the pre-security area of Terminal 1 and the C and D Gates, as well as National Passenger Traffic International Passenger Traffic between the D Gates and Terminal 3. Source: Las Vegas Convention and Visitors Authority 9th Busiest 26th Busiest

TRANSPORTATION

RTC Transit is a public transportation system providing bus service throughout Las Vegas, Henderson, North Las Vegas and 2016 Average CC 215 Daily Average I-15 at other areas of the valley. A bus rapid-transit link in Las Vegas Visitor Volume Highway Traffic NV/CA Border called the Strip & Downtown Express (previously ACE Gold Line) with limited stops and frequent service was launched in March 2010, and connects downtown Las Vegas, the Strip and the Las 42,936,109 109,204 45,329 Vegas Convention Center.

Interstates 15, 515, and US 95 lead out of the city in four SUMMARY TABLE OF TRAVEL PLANNING CHARACTERISTICS directions. Two major freeways – Interstate 15 and Interstate 515/U.S. Route 95 – cross in downtown Las Vegas. I-15 connects 2011 2012 2013 2014 2015 Las Vegas to Los Angeles, and heads northeast to and beyond Proportion of visitors who traveled to Las Vegas by 56% 57% 58% 58% 57% Salt Lake City. I-515 goes southeast to Henderson, beyond ground transportation (automobile/bus/RV) which US 93 continues over the Mike O'Callaghan–Pat Tillman Proportion of visitors who traveled to Las Vegas by air 44% 43% 42% 42% 43% Memorial Bridge towards Phoenix, Arizona. US 95 connects the city to northwestern Nevada, including Carson City and Reno. Source: Las Vegas Convention and Visitors Authority US 93 splits from I-15 northeast of Las Vegas and goes north through the eastern part of the state, serving Ely and Wells. A partial beltway has been built, consisting of Interstate 215 on the south and Clark County 215 on the west and north.

CONVENTIONS THE 5 LARGEST CONVENTIONS

Las Vegas is the birthplace of the United States’ gaming industry Convention Center HELD IN LAS VEGAS ANNUALLY and continues to lead both the tourism and convention industries. Current Expansion Budget Major gaming corporations like MGM Resorts International, Consumer Electronics Show Caesars Entertainment, Wynn Resorts Limited, Las Vegas The 2016 Consumer Electronics Show (CES) Sands, and Scientific Games are headquartered in Las Vegas. S1.4B occupied 2.4 million SF by 3,600 companies These companies cater to the 43 million tourists who visit the with a record-breaking 177,393 of attendees. region every year. Las Vegas has also been the No. 1 domestic Impact of Tourism Southern convention location for two decades. But the gaming, tourism, Nevada’s 2015 Economy National Finals Rodeo and convention cluster is far more complex than what you see in The National Finals Rodeo (NFR) is a very advertisements. Las Vegas is home to hundreds of non-gaming popular event, made possible through companies that serve the Las Vegas Strip, including gaming $52B professional conference planners, brings more technology, aviation, and convention services companies. than 175,000 spectators from all over the world Convention Attendees to Las Vegas. Source: Las Vegas Convention and Visitors Authority Men’s Apparel Guild of California 6.3MM The Men’s Apparel Guild of California, or MAGIC, also picks February in Las Vegas to Conventions Per Year offer a preview the season’s fashion offerings to more than 85,000 attendees. 21,864 World of Concrete The World of Concrete features more than 18,000 companies welcoming more than 60,000 attendees to town to showcase the newest in commercial construction innovations.

National Association of Broadcasters The National Association of Broadcasters (NAB) is the world’s largest event covering filmed entertainment along with the development, management and delivery of content across all mediums. 2016 brought more than 100,000 attendees to Las Vegas.

Source: International School of Hospitality

THE LAS VEGAS RAIDERS

A domed stadium is to be built in Paradise, Nevada for the Las Vegas Raiders of the National Football League (NFL) and the UNLV Rebels football team from the University of Nevada, Las Vegas (UNLV). Construction of the stadium is planned to begin in 2017 and be completed in time for the 2020 NFL season. The state of Nevada approved $750 million for a new stadium. Raiders owner Mark Davis pledged $500 million toward the project, and a report from the Southern Nevada Tourism Infrastructure Committee estimates the total stadium cost to be $1.9 billion.

THE LAS VEGAS GOLDEN KNIGHTS The Vegas Golden Knights are a professional ice hockey team that will be based in the Las Vegas metropolitan area. The team is scheduled to begin play in the 2017–18 NHL season, and will be a member of the Pacific Division of the Western Conference of the National Hockey League (NHL). The team is owned by Black Knight Sports & Entertainment, a consortium led by Bill Foley, and will play its home games at T-Mobile Arena on the Las Vegas Strip in Paradise, Nevada.

Located approximately 2.5-miles from subject site.

MEDICAL TOURISM UNLV SCHOOL OF MEDICINE

Las Vegas is one of the few destinations in the world to develop a regional strategic plan for medical and UNLV School of Medicine will be a full-scale, four-year wellness travel. The plan provides a unified vision among the medical and tourism providers in Las Vegas allopathic medical school that is an integral part of a to offer a unique and compelling option for the health and wellness traveler. The plan is a comprehensive vibrant, research-intensive public university. The medical economic development strategy, involving medical facilities, physicians and surgeons, government school’s mission is to improve access to high-quality institutions, economic development authorities, higher education, the hospitality sector and the local health care in Southern Nevada by increasing the community, to deliver a total patient experience unlike anything in the United States. number of physicians and trained specialists who are committed to serving the region. One of the primary Simply put, rapidly evolving treatment expertise combined with a world-class hospitality infrastructure goals of UNLV School of Medicine is to provide diverse makes Las Vegas a serious player in health and wellness travel. and medically under served populations access to timely high quality health care. The accompanying academic health center will serve as the core infrastructure for the entire medical community and generate top-quality research that spans the basic and clinical sciences.

The UNLV School of Medicine’s future home is located on nearly 10 acres at 625 Shadow Lane. The medical school is part of a citywide effort to create a leading Las Vegas Medical District (LVMD). The 214-acre medical district is located just North of the city center – West Charleston Boulevard and 1-15 corridor at 625 Shadow Lane.

PROPERTY MANAGEMENT LOGIC LVPM’s management team members are tenured professionals with a comprehensive knowledge and understanding of commercial real estate management. We methodically approach each assignment with customized management strategies that meet the client’s needs, We provide a host of services to our clients that include maintain the property’s physical plant, and effectively service tenants. Property Management and Capital Markets. We know our priority is to cooperate with our tenants by working intelligently to reduce expenses and to serve our owner-clients by identifying creative ways to drive income. We provide for accountability in every step we take, from management to accounting. Logic LVPM will pinpoint a client’s goals and objectives, meet challenges, and achieve expected results from your investment.

Contact: LAUREN VANISKI Director of Property Management 702.954.4106 [email protected]

CAPITAL MARKETS LOGIC Capital Markets is a preferred funding source for investors, developers and operators of commercial real estate. Our loan brokerage service & origination platform provide our clients access to the market’s wide range of competitive products for all property types.

Through our relationships which include banks, CMBS, life companies, mortgage funds, and hard money lenders, we are able to offer debt and equity financing for the purpose of acquisition, development, refinance, buyouts, and more.

Contact: WILLIAM SKUPA Director of Capital Markets 702.954.4131 [email protected]

CHRIS RICHARDSON, CCIM BOULDER Director MIXED USE CAMPUS 702.954.4110 [email protected]

JASON OTTER Director 702.954.4109 [email protected]

LOGIC COMMERCIAL REAL ESTATE | 3900 S. Hualapai Way, Suite 200, Las Vegas, Nevada 89147 | 702.888.3500 The information herein was obtained from sources deemed reliable; however Logic Commercial Real Estate makes no guarantees, warranties or representation as to the completeness or accuracy thereof.