OFFERING MEMORANDUM For Sale Canyon Ridge Business Park 5770 - 5890 South Durango Drive , NV 89113 Every Building offers High Visibility, Signage & Durango Fronting

A project developed by:

Presented by: Ryan Martin, SIOR, CCIM Tonya Gottesman Senior Vice President Senior Associate Lic#: BS.0048284 Lic#: S.0189043 C 702.630.2671 C 310.612.3592 [email protected] [email protected] Investment Highlights

• New office construction – grey shell buildings • Prime Southwest location with prime signage off Durango • Near 3 major hospitals • ±1.2 Million cars per month pass the site • Cover parking available • Convenient access to the I-215 via three interchanges • Numerous restaurants, retail and entertainment, amenities nearby and/or planned development Property Overview

Canyon Ridge Business Park is a newly developed office park located at the Southeast Corner of Russell Rd. and Durango Dr. The Property consists of seven (7) office build- ings delivered in grey shell, totaling ±65,000 SF with building sizes ranging from ±2,000 SF to ±10,000 SF. The Park is situated in the prime Southwest location, which is the heart of the fastest growing area in the .

Surrounded by numerous amenities, restaurants and retail services, the location is desirable and a central point for business owners and clients living from all areas of the Las Vegas Valley. In the immediate location, there are 130,620 residents living within a 3 mile radius.

Just minutes from the I-215 Freeway, Canyon Ridge Busi- ness Park, is surrounded by multiple planned and under construction, office, retail and multi-housing developments. It is located within one mile of three (3) major hospitals and two (2) skilled nursing facilities and within close proximity to the ad McCarran International Airport. At the Property’s major intersection, Russell Rd. and Durango Dr. are major surface thoroughfares that see 1.2 Million ve- hicles per month. Offering Details Unique Opportunity to Own a Freestanding In the Southwest Submarket

Property Name: Offering: Canyon Ridge Business Park $275 per SF

Address: Building SF Available: 5770 - 5890 S. Durango Drive ±2,581 SF - ±4,866 SF Las Vegas, NV 89113

Parcel Number: Year Built: 163-33-114-016 to 002 2020

Zoning: Parking: C-1 (Local Business) ±5 per 1,000 SF

Total Buildings: Traffic Counts: 7 (Divisible options) ±1.2 Million per month (Durango Drive & ) Why Buy vs Lease? 5 Things to Consider

Lower Occupancy Cost In today’s market, a monthly mortgage payment is usually less ex- pensive than a monthly lease payment.

Fixed Occupancy Cost A renter is subject to annual rent escalations, while an owner can fix their monthly payment for years via a mortgage.

Prestige Owning an office building makes a positive statement to clients, while providing valuable branding via visible signage to thousands of people.

Asset Accumulation In most cases, the largest asset a small or medium size company will have is their office building.

Significant Tax Advantages Owners experience the benefit of mortgage interest tax deductions and depreciation write-offs. Own vs Lease Analysis Sample Comparison

±5,000 SF Building Located at Canyon Ridge

Own VS Lease Analysis

Own Lease Building Shell Price/SF $275 $ 1, 375,000 Monthly Lease Rate/SF*** $1.85 $ 9,250 Improvements/SF (estimated) $90 $ 450,000 Total Building Cost $ 1, 825,000 Closing Cost* $ 33,000 Total Project Cost $ 1, 858,000

Star up Cost Start Up Cost

Cash Down Payment 10% $ 185 ,800 Prepaid Lease 2 mos 18 ,500$ Appraisal and Phase I $ 5, 000 Security Deposit 1 mos 9, 250$ Total Cash Required $ 190 ,800 27 ,750$

Monthly Occupancy Cost Monthly Occupancy Cost

Mortgage Payment** $ 8, 760 Lease Payment $ 9, 250 Occupy Cost/SF (principal + interest) $ 1.75 PSF Less Depreciation ($3,176) $ (0. 64) Occupancy Cost/SF $ 1.85 Occupy Cost/SF (principal + interest-depreciation) $ 1.12 PSF

* Closing cost includes the CDC/SBA Fees of $22,000 (capitalized in SBA loan), est. bank origination fee, title expense and 3rd party reports **Mortgage Payment includes the bank's 1st DOT and the SBA 2nd DOT (amortized over 25 years). ***Lease rate estimated by broker. Lease rate of $1.85/SF and increases by 3% each year Assumptions: Depreciation estimated at 80% allocation of purchase price. SBA Debenture is based on 40% of project cost and a 25 year fully amortizating, fixed rate loan of 2.93% (based on May 2021 SBA Effective Rate). The SBA loan has a declining 10 year pre-payment penalty (eliminated in year 11) based on the loan debenture rate. For example, the May debenture rate is 1.54% (the debenture rate is less than the effective rate). The maximum pre-payment penalty would be the full debenture rate (1.54%) of the principal balance remaining on the SBA loan. This amount declines by 10% each year, so five years in, the prepayment penalty would be cut in half, or approximately

Figures are estimates and subject to change. It is recommended that you reiveiw with your CPA.

Your SBA Loan Experts: Paola Gonzalez Evan Dickson 702.473.6201 702 . 473 . 6202 [email protected] EDickson@nsd c.c om

*Prices are subject to change. Stated prices are example of building and unit. Property Photos Property Photos Site Plan Canyon Ridge Business Park CANYON RIDGE BUSINESS PARK Site Plan

Legend: Available

Reserved Sold

5864 Durango Dr. ±4,866 SF

5890 Durango Dr. ±2,581 SF

5770 5798 5812 5824 5852 5864 5890 Ste. 100 Ste. 105 Ste. 100 Ste. 105 Ste. 100 Ste. 100 Ste. 105 Ste. 100 SOLD SOLD SOLD SOLD SOLD SOLD SOLD 2,581 SF

Ste. 110 Ste. 115 Ste. 105 SOLD SOLD Ste. 105 Ste. 110 Ste. 110 Oquendo Rd. SOLD SOLD SOLD SOLD 4,866 SF SOLD

Durango Dr.

Although the information has been obtained from sources deemed reliable, Owner, MDL Group, and/or their representatives, brokers or agents make no guarantee as to the accuracy of the information contained herein, and offer the Property without express or implied warranties of any kind. The Property, Units and/or Rates may be withdrawn and/or changed without notice. Site Plan 5864 Durango Dr.

SOLD SOLD SUITE 100 SUITE 105

3,074 SF 2,088 SF

EQUIPMENT ROOMS 147 SF

SUITE 110

4,869 SF Site Plan 5890 Durango Dr.

SOLD SUITE 100 SUITE 105 2,582 SF 2,581 SF

EQUIPMENT ROOMS 113 SF

SOLD SUITE 110 4,868 SF Aerial Map AreaAerial Map Map Aerial Map Map

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Henderson Seven las vegas overview1

Aerial Map

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Durango Dr. Dr. Durango Durango

Russell Rd. McCarran CANYON RIDGE International BUSINESS PARK Airport

S o u r c e : ©2020 Esri.

April 27, 2020

©2020 Esri Page 1 of 1 Demographics

±24,698 ±93,969 ±575

Population: 1 Mile 3 Miles 5 Miles

2019 Population ±24,698 ±150,740 ±348,101 2024 Population ±25,952 ±162,071 ±376,267 2010 Census ±22,490 ±136,548 ±304,979

Income: 1 Mile 3 Miles 5 Miles

2019 Median HH Income $93,969 $100,501 $94,336 2024 Median HH Income $106,657 $113,089 $106,526

Business Growth: 1 Mile 3 Miles 5 Miles

Total Businesses ±575 ±5,806 ±13,084 Total Employees ±4,893 ±64,077 ±125,97 Population

2,500,000 CLARK COUNTY POPULATION 2,325,798 (LAS VEGAS METROPOLITAN AREA 2,036,358 2,000,000 1,815,700

1,500,000 1,425,723

1,000,000

770,280

500,000 461,816

0 1980 1990 2000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

SOURCE: Clark County Department of Comprehensive Planning (report date: July 30, 2019) Population Trends_NEW.xlsx Las Vegas McCarran 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 . It is in Paradise, about 5 miles (8.0 km) south of . The airport is owned by Clark County and operated by the Clark County Department 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 pas- senger volume.

2020 Total Passengers (enplaned & deplaned) Q1 only January - March Peak Month l Jan= 4,154,165 Low Month l Mar= 2,064,393

Peak Month l Oct= 4,609,318 Low Month l Feb= 3,628,594 Las Vegas Overview Las Vegas Stadium

The Oakland Raiders received the NFL’s approval to move to Sin City for the 2020 NFL season. Las Vegas has proposed a new $1.9 billion stadium just to the west to the strip. The venue’s horse-shoe shape designed by Manica Archi- tecture, would accommodate an audience of 65,000 spectators, 8,000 cars, tail- gating amenities and mixed-use commercial facilities. Along with the economic benefits of in season games, this venue would also allow Las Vegas to host the annual Super Bowl - which would bring hundreds of millions of dollars in tourism and revenue.

Las Vegas Convention Center

Las Vegas Convention Center (2017-2024) – A $1.4-billion project that extends to the Strip and will include 600,000 square feet of exhibit hall, outdoor exhibition space and a complete renovation of the existing convention space. This expan- sion will allow for an overflow area for conventions to use while the remaining halls of the main convention center are renovated. Thus, refreshing the beating heart of the Las Vegas valley. With 6 million plus convention attendees visiting us last year. Las Vegas Sports Las The Vegas Golden Knights are a professional ice hockey team based in the Las Vegas metropolitan area that competes in the (NHL). They are members of the Pacific Division of the league’s Western Conference, and began play in the 2017–18 NHL season. The team’s inaugural home game was played on October 10, 2017. The Golden Knights said their colors steel grey, gold, red and black reflect the community and the focus of the team. The grey represents strength and durability; Nevada is the largest producer of gold in the United States; the red is taken from the Las Vegas skyline, desert and Red Rock canyons; and the black represents power and intensity.

The Las Vegas Aviators is a Triple-A Pacific Coast League, that plays in the newly constructed , located in Summerlin, Nevada in the Las Vegas Valley. The stadium is owned by the Howard Hughes Corporation. The Las Vegas Ballpark is located in near the intersection of South Pavillion Center Drive and Summerlin Center Drive next to City National Arena and across the street from the Downtown Summerlin shopping Center. Las Vegas Aces The Las Vegas Aces are an American professional basketball team based in Paradise, Nevada. The Aces compete in the Western Conference of the Women’s National Basketball Association (WNBA), and play their home games at the Mandalay Bay Events Center 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 . The Lights are coached by Eric Wynalda and owned by Brett Lashbrook, who also serves as general manager. The Lights play their home matches at Cashman Field, a stadi- um in Downtown Las Vegas,it has 9,334 permanent seats and additional standing room capacity. Disclaimer

This package is provided to you by MDL Group and is intended solely for your limited use and benefit in determining whether you desire to express further interest in purchasing or leasing the property described in the attached documentation (the “Property”). The providing of “this package” to you and your use thereof is conditioned upon your agreement to the terms set forth below.

This package contains selected information pertaining to the Property. It does not purport to be a representation 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 projections 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. All projections, assumptions and other information provided are made herein are subject to material variation. MDL Group has not independently investigated the accuracy of the informa- tion within the package, as such information was obtained by the owner and/or public records. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers.

Neither the owner, MDL Group, nor any of their respective directors, officers, agents, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained within this package or any supplemental information provided after the delivery of this package to you, and no legal commitment or obligation shall arise by reason of your receipt of this package or use of its contents. Please also refer to the disclaimer at the bottom of each page of this package, which disclaimer is incorporated herein by reference.

You should understand and be advised that the owner of the Property expressly reserves the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with you or any other party at any time with or without notice which may arise as a result of this package. The owner shall have no legal commitment or obligation to you or any other party reviewing this package, nor shall the owner be required to accept an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligation therein have been satisfied or waived.

By receipt of “this package”, you agree that the package and its contents are of a confidential nature, that you will hold and treat it in the strictest confi- dence and that you will not disclose the package or any of its contents to any other entity without the prior written authorization of owner. You also agree that you will not use the package or any of its contents in any manner detrimental to the interest of the owner or MDL Group.

This package describes certain documents including leases and other materials, which documents are described in summary form only. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected and advised to review all such summaries and other documents of whatever nature independently with legal counsel, tax and other professionals of their choice who have the expertise to assist in investigating this information in detail. You are therefore advised not to rely solely on the package as part of your investigations on this Property. If you have no interest in further pursuing this Property, please return this package to MDL Group.