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Express Plaza Offering Memorandum 716-720Center Street, Henderson, Nevada 89015 Express Plaza Offering Memorandum 716-720Center Street, Henderson, Nevada 89015

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Express Plaza Offering Memorandum 716-720Center Street, Henderson, Nevada 89015 Express Plaza Offering Memorandum 716-720Center Street, Henderson, Nevada 89015 Express Plaza Offering Memorandum 716-720Center Street, Henderson, Nevada 89015 Express Plaza Offering Memorandum 716-720Center Street, Henderson, Nevada 89015 EXCLUSIVE ADVISORS Matthew Patros Associate - Sales & Leasing 702.941.7380 [email protected] 5960 South Jones Boulevard Las Vegas, Nevada 89118 T 702.388.1800 F 702.388.1010 www.mdlgroup.com THE OFFERING MDL Group is pleased to offer an exceptional opportunity to purchase Express Plaza, a Retail Center located at 716-720 Center Street in Henderson, NV. The property is currently at 91% occupancy with an excellent mix of tenants. INVESTMENT HIGHLIGHTS SUMMARY °Excellent Value-add opportunity: 80% of tenants signed leases at well below Asking Price $1,600,000 market rents. Price PSF $125 °Excellent Visibility: The property features strong curb appeal and excellent NOI $110,947 visibility off both Major Ave and Center St. Cap Rate 6.93% °Below Replacement Cost: Price per square foot is well below current Occupancy 91% estimated replacement cost. SF ±12,700 °Direct Access: Multiple access points off Center St. and Major Ave. and direct Year Built 2007 access to the hard corner 7-11. Site Size 1.53 Acres °Value Add Opportunity: Below market rents present opportunity for an investor to capture increased revenue. PROPERTY OVERVIEW PROPERTY LOCATION Express Plaza is located in the Southeast submarket, the property is sit- Property Type Inline Retail uated ½ mile East of Boulder Hwy. and ½ mile South of Cadence Master planned community at the Northwest corner of Burkholder Blvd. & Center Address 716 -720 Center Street, Henderson, NV 89015 St., having the civic address of 716-720 Center St. This ±12,700 SF retail Building/ Unit Size ±12,700 center is strategically located on a busy intersection, serves the Henderson APN 179-17-511-037 communities of Black Mountain and Cadence. Daytime traffic generators 179-17-511-047 include the City of Henderson municipal buildings, Henderson waste water Submarket Southeast treatment plant, and St. Rose hospital Rose de Lima campus, all which are Zoning (CN) Neighborhood Commercial located in close proximity. The property is strategically located on a major Traffic Counts ±18,300 (NDot) arterial road, in close proximity to reginal/neighborhood retail, restaurants, # of Tenants 5 casinos/hotels, and densely populated residential neighborhoods. Sever- al neighborhoods and multifamily units are within walking distance of the property. PROPERTY DESCRIPTION Express Plaza is comprised of two inline retail buildings of ±7,942 SF and ±4,758 SF constructed in 2007. The site is situated on a 1.53 acres and consists of 7 suites ranging in size from ±800 SF to ±3,751 SF. Located on the hard corner of Burkholder Blvd. & Center St., the property is a staple in the surrounding community. Surrounding demographics are strong and show a three-mile radius estimated household income of $73,000 and a three-mile radius total population of over 75,000+ individuals. LOCATION DRIVEWAY LAS VEGAS VALLEY LOCATION MAP LAS VEGAS VALLEY OVERVIEW - FUTURE SPORTS LAS VEGAS LIGHTS FC Las Vegas Lights FC is an American professional soccer team based in Las Vegas, Nevada. The team made its debut in the United Soccer League in 2018 and plays its home games at Cashman Field. The Lights are coached by Eric Wynalda and owned by Brett Lashbrook, who also serves as general man- ager. The Lights play their home matches at Cash- man Field, a stadium in Downtown Las Vegas,it has 9,334 permanent seats and additional standing room capacity. LAS VEGAS AVIATORS Las Vegas Aviators formerly known as the Las Ve- gas 51s and Las Vegas Stars, are a Minor League Baseball team in the Pacific Coast League (PCL) and the Triple-A affiliate of the Oakland Athletics. They are located in Summerlin, Nevada. LAS VEGAS GOLDEN KNIGHTS LAS VEGAS BALLPARK Las Vegas Ballpark is a baseball stadium in Sum- The Vegas Golden Knights are a professional ice hockey team based in the merlin, Nevada in the Las Vegas Valley. It is the Las Vegas metropolitan area that competes in the National Hockey League home field for the Las Vegas Aviators of the Triple-A (NHL). They are members of the Pacific Division of the league’s Western Con- Pacific Coast League. The stadium is owned by the ference, and began play in the 2017–18 NHL season. The team’s inaugural Howard Hughes Corporation. Las Vegas Ballpark is home game was played on October 10, 2017. The Golden Knights said their located in Downtown Summerlin near the intersec- colors steel grey, gold, red and black reflect the community and the focus of tion of South Pavilion Center Drive and Summerlin the team. The grey represents strength and durability; Nevada is the largest Center Drive next to City National Arena and across producer of gold in the United States; the red is taken from the Las Vegas the street from the Downtown Summerlin shopping skyline, desert and Red Rock canyons; and the black represents power and center. intensity. LAS VEGAS VALLEY OVERVIEW MSG SPHERE Work has begun on the massive, 18,000-seat MSG Sphere at The Venetian in Las Vegas. The new venue is set to change live performance in Sin City as we know it, not to mention the famous skyline. This spherical structure will be the first of its kind. The MSG Sphere will feature fully programmable, high-tech video screens on the interior and exte- rior. Plus, top-notch sound capabilities featuring vibrations from a infrasound haptic floor system. The MSG Sphere facility is on pace to open in the 2021 fiscal year (July 1, 2020-June 30, 2021). LAS VEGAS STADIUM LAS VEGAS CONVENTION CENTER The Oakland Raiders received the NFL’s approval to move to Sin City for Las Vegas Convention Center (2017-2024) – A $1.4-billion project that extends to the Strip and the 2020 NFL season. Las Vegas has proposed a new $1.9 billion sta- will include 600,000 square feet of exhibit hall, outdoor exhibition space and a complete renovation dium just to the west to the strip. The venue’s horse-shoe shape de- of the existing convention space. This expansion will allow for an overflow area for conventions to signed by Manica Architecture, would accommodate an audience of use while the remaining halls of the main convention center are renovated. Thus, refreshing the 65,000 spectators, 8,000 cars, tailgating amenities and mixed-use com- beating heart of the Las Vegas valley. With 6 million plus convention attendees visiting us last year. mercial facilities. Along with the economic benefits of in season games, this venue would also allow Las Vegas to host the annual Super Bowl - RESORT WORLD LAS VEGAS which would bring hundreds of millions of dollars in tourism and revenue. Resorts World Las Vegas (2020) – A $4-billion mega resort developed by Malaysia-based Gen- ting, catering to an Asian demographic specifically from Singapore, Malaysia and the Philippines, will have 4,000 rooms. HENDERSON OVERVIEW VEGAS GOLDEN KNIGHTS FACILITY CADENCE MASTER COMMUNITY The Henderson hockey facility will be built on 3.2 acres at the southwest Cadence at Gateway, an intimate community of 464 acres in Mesa’s magnetic Gateway corridor. corner of Water Street and Atlantic Avenue, adjacent to Henderson City Hall Charming neighborhoods, abundant parks, a main street parkway with shopping, office and em- on a site currently occupied by the Henderson Convention Center, which ployment centers and a trail system that seamlessly connects the walkable community. The Square will be demolished this summer. The new facility is tentatively scheduled for has a community center, refreshments area, visitors center, great room, event and sport lawns, completion by July 2020 with an estimated construction cost of $25 million. resort-style pools, tennis and bocce courts, open areas, a garden area and multiple indoor and outdoor fitness areas. Cadence at Gateway also offers brand new homes with fresh designs that meet the needs of today’s home buyers. LAS VEGAS VALLEY OVERVIEW LAS VEGAS BALLPARK ANNUAL PASSENGER TRAFFIC 2017 ±48,500,194 2018 ±49,716, 584 McCARRAN INTERNATIONAL AIRPORT McCarran International Airport (IATA: LAS, ICAO: KLAS, FAA LID: LAS) is the primary commercial airport serving the Las Vegas Valley, a major metropolitan area in the U.S. state of Nevada. It is in Paradise, about 5 miles (8.0 km) south of Downtown Las Vegas. The airport is owned by Clark County and operated by the Clark County Depart- ment of Aviation. McCarran International Airport saw a total of 49,700,000 passengers in 2018. It was the eighth consecutive year McCarran experienced a year-over-year increase, with a 2.5 percent rise in passenger volume. Express Plaza Offering Memorandum 716-720Center Street, Henderson, Nevada 89015 DISCLAIMER EXCLUSIVE ADVISORS This package is provided to you by MDL Group and is intended solely for your limited use and benefit in de- termining whether you desire to express further interest in purchasing the property described in the attached Matthew Patros documentation (the “Property”). The providing of “this package” to you and your use thereof is conditioned upon Associate - Sales & Leasing your agreement to the terms set forth below. 702.941.7380 This package contains selected information pertaining to the Property. It does not purport to be a representation [email protected] of the state of affairs of the current owner, nor should it be construed to contain all or part of the information which prospective investors would deem necessary to evaluate the Property for purchase. Any financial projec- tions and information provided are for general reference purposes only, are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the current owner and MDL Group.
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