Autozone 1935 North Hollywood Boulevard Las Vegas, Nevada 89156

OFFERING MEMORANDUM AUTOZONE 1935 NORTH HOLLYWOOD BOULEVARD LAS VEGAS, NEVADA 89156

AutoZone was founded in 1979 and has been publicly held since 1991. AutoZone stock trades on the New York Stock Exchange under the ticker symbol “AZO” and is included in the Standard & Poor’s 500 index. AutoZone is also recognized on the list of Fortune 500 companies. CONFIDENTIALITY AGREEMENT

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 TJ Plaza (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.

Property is being offered for auction in an “as-is, where-is” condition and Seller and Broker make no representations or warranties as to the accuracy of the information contained in this Offering Memorandum. The enclosed materials include highly confidential information and are being furnished solely for the purpose of review by prospective purchasers of the interest described herein. Neither the enclosed materials nor any information contained herein is to be used for any other purpose or made available to any other person without the express written consent of the Seller. Each recipient, as a prerequisite to receiving the enclosed, should be registered with Broker as a “Registered Potential Investor” or as “Buyer’s Agent” for an identified “Registered Potential Investor” through the execution of the Confidentiality Agreement. The use of this Offering Memorandum and the information provided herein is subject to the terms, provisions and limitations of the confidentiality agreement furnished by Broker prior to delivery of this Offering Memorandum.

The enclosed materials are being provided solely to facilitate the prospective investor’s own due diligence for which it shall be fully and solely responsible. The materials contained herein are based on information and sources deemed to be reliable, but no representation or warranty, express or implied, is being made by Broker or Seller or any of their respective representatives, affiliates, officers, employees, shareholders, partners and directors, as to the accuracy or completeness of the information contained herein. Summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents, but rather only outlines of some of the principal provisions contained therein. Neither the Broker nor the Seller shall have any liability whatsoever for the accuracy or completeness of the information contained herein or any other written or oral communications or information transmitted or made available or any action taken or decision made by the recipient with respect to Property. Interested parties are to make their own investigations, projections and conclusions without reliance upon the materials contained herein.

Seller reserves the right, at its sole and absolute discretion, to withdraw Property from being marketed for auction at any time and for any reason. Seller expressly reserves the right, at its sole and absolute discretion, to reject any and all expressions of interest or offers regarding Property and/or to terminate discussions with any entity at any time, with or without notice. This offering is made subject to omissions, corrections of errors, change of price or other terms, with respect to sale or withdrawal from the market without notice. Broker is not authorized to make any representations or agreements on behalf of the Seller. Further, Seller reserves the right to negotiate and accept an offer prior to bid deadline.

Seller shall have no legal commitment or obligation to any interested party reviewing the enclosed materials, performing additional investigations and/or making an offer to purchase Property unless and until a binding written agreement for the purchase of Property has been fully executed, delivered, and approved by Seller and any conditions to Seller and Purchaser’s obligations there under have been satisfied or waived.

By taking possession of and reviewing the information contained herein, the recipient agrees that (a) the enclosed materials and their contents are of a highly confidential nature and will be held and treated in the strictest confidence and shall be returned to Broker or Seller promptly upon request; and (b) the recipient shall not contact employees of Property directly or indirectly regarding any aspect of the enclosed materials of Property without the prior written approval of the or Broker; and (c) no portion of the enclosed materials may be copied or otherwise reproduced without the prior written authorization of Seller or Broker or as otherwise provided in the Confidentiality and/or Registration Agreement executed and delivered by the recipient(s) to Broker.

EXCLUSIVE LISTING AGENT

Brian Fike Vice President +1 702 836 3744 [email protected] EXECUTIVE SUMMARY

Colliers International is pleased to announce a (NNN) triple net leased investment opportunity for an AutoZone auto parts store in Las Vegas, Nevada. This site is just off the southwest corner of East Lake Mead Boulevard and Hollywood Boulevard, both high volume traffic corridors. Cross easements exist over the entire site which includes both Dollar Tree, and Tire Works, providing access from East Lake Mead Boulevard.

HIGHLIGHTS • Absoulute Triple Net Lease (NNN) • 15 Year Lease With 4 Years 10 Months Remaining • Corporate Guaranty • Zero Landlord Obligations • 100% Fee Simple Interest

MARKET OVERVIEW:

Positioned in the northeast submarket of Las Vegas, this AutoZone auto parts store is located on the west side of Hollywood Boulevard, just south of the major east-west arterial, East Lake Mead Boulevard. This store generally serves a working class area that includes Nellis Air Force Base, Sunrise Manor, and the far northeastern part of the Las Vegas Valley. Lake Mead Boulevard is a major traffic arterial that extends across the entire expanse of the Las Vegas Valley and continues east to Lake Mead Recreation Area.

AUTOZONE – COLLIERS INTERNATIONAL 3 FINANCIALS

BASE RENT $172,788.00 ASKING PRICE $2,658,277 Cap Rate 6.50% Building SF 7,370 NET OPERATING INCOME Net Cash Flow $172,788 Year Built 2008 $172,788.00 Lot Size .68 acres/29,621 Sq. Ft.

LEASE SUMMARY TOTAL RETURN Lease Type Absolute Triple-Net (NNN) Tenant Auto Zone 6.50% – $172,788.00 Lease Guarantor Auto Zone Development Corporation Roof and Structure Tenant Responsible Rent Commencement Date 2008 Lease Term 15 Years ANNUALIZED OPERATING DATA Remaining Term 4 years 10 months

LEASE YEARS ANNUAL RENT CAP RATE Rental Increases 10% every 5 years Renewal Options Four (4) Five ( 5) year terms 10 thru 15 $172,788 6.50%

AUTOZONE – COLLIERS INTERNATIONAL 4 The Company was founded in 1979 and has been publicly held since 1991. AutoZone stock trades on the New York Stock Exchange under the ticker symbol “AZO” and is included in the Standard & Poor’s 500 index. AutoZone is also recognized on the list of Fortune 500 companies.

AutoZone currently operates 5,915 auto parts locations, including 499 in Mexico, nine in Brazil and 26 Interamerican Motor Corporation (‘’IMC’’) branches. Each AutoZone store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products. Many of their domestic AutoZone stores have commercial sales program that provide commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations and public sector accounts. The Company also has commercial programs in AutoZone stores in Mexico and Brazil. IMC branches carry an extensive line of original equipment quality import replacement parts. They also sell the ALLDATA brand automotive diagnostic and repair software through www.alldata.com and www.alldatadiy.com. Additionally, they sell automotive hard parts, maintenance items, accessories and non-automotive products through www.autozone. com, and accessories, performance and replacement parts through www.autoanything.com, and our commercial customers can make purchases through www.autozonepro.com and www.imcparts.net.

Each of the Company’s AutoZoners is committed to the highest level of customer service - every store has AutoZoners equipped with the tools and knowledge necessary to provide the highest level of technical advice and diagnostic support to their customers. AutoZone’s website, www. AutoZone.com, can be used to order parts online or to look up parts in the customer’s local AutoZone store. The website is also a great resource for helpful maintenance and repair information. Through ALLDATA, the Company provides the most comprehensive electronic diagnostic and repair information available to professional mechanics either online, on CD or DVD.

AUTOZONE – COLLIERS INTERNATIONAL 5 LAS VEGAS E WAY UT PAIUTE GOLF RESORT PAI 93 15

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AUTOZONE – COLLIERS INTERNATIONAL 7 HOLLYWOOD BOULEVARD

LAKE MEAD BOULEVARD

AUTOZONE – COLLIERS INTERNATIONAL 8 DEMOGRAPHICS

POPULATION 0 - 1 MILES 0 - 3 MILES 0 - 5 MILES Est Owner Occupied Property Values 2023 Projection 9,676 118,021 212,009 $1,000,000 or more 2018 Estimate 8,548 105,019 189,196 $750,000 to $999,999 5-Mile 2010 Census 6,499 77,587 145,627 $500,000 to $749,999 2000 Census 2,039 11,187 22,280 $400,000 to $499,999 Growth 2017 - 2023 5.21% 6.40% 6.01% $300,000 to $399,999 Growth 2010 - 2018 6.34% 9.17% 8.69% 3-Mile $200,000 to $299,999 Growth 2000 - 2010 12.46% 24.01% 16.20% $150,000 to $199,999

$100,000 to $149,999

$80,000 to $99,999 1-Mile $60,000 to $79,999 HOUSEHOLDS 0 - 1 MILES 0 - 3 MILES 0 - 5 MILES $40,000 to $59,999 0% 5% 10% 15% 20% 25% 2023 Projection 6,815 28,724 89,569 2018 Estimate 6,463 27,047 84,443 Es6mated Households By Income 2010 Census 6,047 24,990 77,798 60% 2000 Census 5,707 21,620 70,754

Growth 2017 - 2023 5.45% 6.20% 6.07% 50% Growth 2010 - 2018 6.88% 8.23% 8.54% Growth 2000 - 2010 5.96% 15.59% 9.96% 40%

30%

20% 2018 EST. POPULATION BY SINGLE-CLASSIFICATION RACE 0 - 1 MILES 0 - 3 MILES 0 - 5 MILES 10% Total 19,411 89,500 282,249 0% $15,000 or $15,000 to $25,000 to $35,000 to $50,000 to $75,000 to $100,000 to $125,000 to $150,000 to $200,000 to $250,000 to $500,000 or Caucasian Alone 50.16% 46.63% 44.31% Less $24,999 $34,999 $49,999 $74,999 $99,999 $124,999 $149,999 $199,999 $249,999 $499,999 More Black or African American Alone 11.20% 10.24% 11.51% 1-Mile 3-Mile 5-Mile Amer. Indian and Alaska Native Alone 1.13% 0.88% 0.89% Asian Alone 4.11% 5.35% 4.74% Compara

2018 EST. HOUSEHOLDS BY HH INCOME 0 - 1 MILES 0 - 3 MILES 0 - 5 MILES

Total 6,463 27,047 84,443 PROJECTED GROWTH 2018 - 2023 ESTIMATED GROWTH 2010 - 2018 GROWTH 2000 - 2010 2016 Est. Average Household Income 73.97% 76.78% 74.54% 1-Mile 3-Mile 5-Mile 2016 Est. Median Household Income 26.02% 23.21% 25.46%

AUTOZONE – COLLIERS INTERNATIONAL 9 LAS VEGAS ECONOMIC TRENDS (Las Vegas Convention and Visitors Authority)

Statistic 2012 2013 2014 2015 2016

Visitor Volume 3 9,7 27,02 2 39,668,221 41,126,512 42,312,216 42,936,109 Gaming Revenue $9.3bn $9.6bn $9.5bn $9.6bn $9.7bn Las Vegas Room Occupancy 84.4% 84.3% 86.8% 87.7 % 89.1%

Average Daily Room Rates $108.08 $110.72 $116.73 $120.67 $125.96 Area Overview Clark County, the most populous of Conventions Held 21,615 22.027 22,103 21,306 21,864 Nevada’s 17 counties, is home to more Convention Delegates 4,944,014 5,107,416 5,169,054 5,761,366 6,310,616 than two million residents, about 73%

Total En/Deplaned of the state’s population. The estimated 41,667,596 41, 8 557,0 0 9 42,878,346 45,389,074 47,43 5,640 Passengers average household income is approximately Room Inventory 150,524 150.103 150,126 149,612 149,339 $62,201. The city of Las Vegas sits at the heart of Clark County and is internationally renowned as the world capital of VISITOR VOLUME VS. GAMING REVENUE entertainment. Las Vegas’ gaming, dining, shopping and business conventions are major attractions for national and international visitors. Las Vegas has approximately 149,339 hotel rooms.

Over 42.9 million people visited Las Vegas in 2016, an all-time high

AUTOZONE – COLLIERS INTERNATIONAL 10 Las Vegas Employment Overview As of 2016, Las Vegas unemployment stands at 6.2%, which is about 60 basis points lower than it was in 2015 at 6.8%. Tourism is the highest economic sector for Las Vegas representing 30.8% of the market, however professional and business services and retail trade make a significant impact representing 13.7% and 11.7% of the market, respectively.

LAS VEGAS TOP EMPLOYERS Firm Employees Gaming, government, tourism and education are the leading areas of Station Casinos Inc. 13,000-13,499 Nellis Air Force Base 12,000-12,499 employment in Las Vegas. Although in recent years, several new industries Boyd Gaming Corp. 9,000-9,499 Las Vegas Sands Corp. 8,500-8,999 such as data centers, high tech manufacturing and healthcare services are Wynn Las Vegas LLC 8,000-8,499 helping to diversify the local economy. MGM Resorts International 8,000-8,499 Bellagio LLC 8,000-8,499 Aria Resort & Casino 7,000-7,499 300,000 new jobs Prestigious Companies Mandalay Bay Resort & Casino 7,000-7,499 Wal-Mart Stores Inc. 6,000-6,499 Expected In The Next 20 Years With Major 8 Fortune 1000 Companies Headquartered Gains In Technology, Healthcare & In Las Vegas Caesars Entertainment Corp. 5,500-5,999 Infrastructure Sectors The Valley Health System 5,000-5,499 University of Nevada-Las Vegas 5,000-5,499 Las Vegas Metropolitan Police Department 4,500-4,999 $2.5 Billion+ $4 Billion+ Mirage Casino-Hotel 4,500-4,999 In Manufacturing/Tech Facility In Public Infrastructure The Venetian Casino Resort 4,000-4,499 Investment Underway Investment Underway SUPERVALU Inc. 4,000-4,499 Cosmopolitan of Las Vegas 4,000-4,499 The Palazzo Casino Resort 3,500-3,999 University Medical Center of Southern Nevada 3,000-3,499

AUTOZONE – COLLIERS INTERNATIONAL 11 Las Vegas Highlights

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

Mandalay Bay LVCC Expansion $1 billion public Convention Center Las Vegas Convention Center works project is currently undergoing a $2.5 billion, recently underwent a 350,000 square foot underway to modernize and expand 600,000 square foot expansion to absorb expansion and is now the 5th largest Las Vegas vehicular infrastructure convention center in North America excess demand

Steady Growth The University continues to grow with a total student headcount of 28,600 (2015)

AUTOZONE – COLLIERS INTERNATIONAL 12 Las Vegas #1 Trade Show Destination for 22 consecutive years -Trade Show News Network

3 out of the 5 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 demand. 66,500 jobs and generates One such demand driver is the unparalleled convention and meeting space capacity more than $9.3 billion in available throughout the city. In 2016, Las Vegas held nearly 22,000 conventions and hosted over 6.3 million convention delegates. economic impact. The Las Vegas M.I.C.E . Las Vegas also hosted four of the top 10 and ten of the top 22 largest (meetings, incentives, conferences, and events) sector conventions/trade shows held in the U.S.

Las Vegas visitation numbers posted its 3rd consecutive year of growth with a record high of 42.9M visitors in 2016. A 10% increase over its pre-recession peak.

There is also a 17.8 increase in International visitation from 2013-2015. McCarran International Airport benefits from the increased visitation making it the No. 26 busiest airport in the world.

AUTOZONE – COLLIERS INTERNATIONAL 13 Developments in the Las Vegas valley

NFL - LAS VEGAS RAIDERS $1.9 Billion estimated cost Professional Sport Franchises Las Vegas’ First NFL Team – On March 27th, 2017, the NFL owners approved the Raiders’ relocation to Las Vegas. The $1.9 billion stadium is expected to take As a means to continue the diversification three years to build and will be located near the southern end of the Las Vegas of its economy, Nevada successfully Strip (near Mandalay Bay). This new stadium will also host world-class events received its first professional sports including college football games, big-name concerts, major UFC fights, March franchise in 2016 concurrent with the Madness, soccer matches and political events. The Raiders are expected to completion of its T-Mobile Arena. play in the 65,000-seat domed stadium by the 2020 season. The Southern Furthermore, in November 2016, Las Nevada Tourism Infrastructure Committee (SNTIC) estimates that Las Vegas Vegas approved a hotel tax ordinance to can expect $100 million worth of media exposure a year from the Raiders help fund the stadium for the NFL’s which is excellent publicity across the Las Vegas community. Oakland Raiders relocation.

AUTOZONE – COLLIERS INTERNATIONAL 14 Developments in the Las Vegas valley This popular destination is the 31st largest Metropolitan Statistical Area in the United States with over two million residents. With its strong economic recovery, Las Vegas has about $15 billion in construction projects that are planned, proposed or under construction. The following pages include a summary of these projects.

WYNN PARADISE PARK RESORTS WORLD $1.5 Billion estimated cost $4 Billion estimated cost LAS VEGAS PARK MGM & Wynn Resorts announced “Wynn Broke ground May of 2015. Upon their Paradise Park” as their latest project CONVENTION CENTER 2020 completion date, this $4 billion NOMAD LAS VEGAS which has been estimated to cost $1.5 EXPANSION Asian-themed resort will include 3,000 billion. This project will be built on the hotel rooms and will consist of 175,000 $450 Million estimated cost

130-acre golf course located east of $2.3 Billion estimated cost square feet of gaming. It’s estimated Wynn Las Vegas and Encore Resort that there will be 3,500 slot machines MGM Resorts International and Sydell

and Casino. The idea is to transform and table games. Genting BHD, Group announced a partnership to The Las Vegas Convention and Visitors The Wynn Golf Club into an expansive Southeast Asia’s largest casino rebrand Monte Carlo Resort & Casino Authority (“LVCVA”) has a planned new development which would include operator, is developing this property in with two distinct hotel experiences expansion and renovation project a 20-acre lagoon which would host multiple phases. The first phase is — Park MGM and NoMad Las Vegas. intended to make the Las Vegas watersports in the day and fireworks expected to be completed in 2019. Costing approximately $450 million to Convention Center the best meeting at night, a 1,000-room hotel tower, Once fully finished, there will be four construct, the renovation and rebrand and convention facility in the World. approximately 260,000 square-feet of towers totaling the room count to will touch every aspect of the The $2.3 billion project, named the Las meeting space, new restaurants, new 6,583. Resorts World Las Vegas will property. Experiences include: Vegas Global Business District, is the retail, and a white sandy beach with a help the Las Vegas employment market “a Las Vegas version of Sydell’s widely largest economic development boardwalk. Construction will begin the by employing 13,000 direct and indirect acclaimed NoMad Hotel, and the initiative the LVCVA has undertaken end of 2017 or early 2018. It’s been jobs. It will also contribute greatly to launch of a new luxury hotel named since the Las Vegas Convention estimated to open in 2020. the Las Vegas economy which is Park MGM.” Construction is expected Center was originally built in the late projected to generate $155 million in to commence in late 2016 and 1950s. The expansion project is annual tax revenue. conclude in late 2018. expected to lead to an additional 480,000 new attendees as current conventions grow and through attracting an estimated 20 new trade shows and conventions.

AUTOZONE – COLLIERS INTERNATIONAL 15 Developments in the Las Vegas valley GOLDEN KNIGHTS HOCKEY TEAM PRACTICE FACILITY $30 Million estimated cost

In October of 2016, Downtown Summerlin held a groundbreaking event to kick off the construction of the Las Vegas NHL’s practice facility. Costing $30 million to construct, this 146,000 square-foot facility is located near Pavilion Center Drive and Griffith Peak Drive and will include two full sheets of ice that will service not only Las Vegas’ first major professional NHL sports team (Vegas Golden Knights) but also local youth and adult leagues. This practice facility opened in September of 2017. Additionally, the Vegas Golden Knights are playing in the 2017-2018 season and will play more than 40 home games each season at the T-Mobile Arena.

HOME TO THE FIRST PROFESSIONAL SPORTS FRANCHISE IN LAS VEGAS.

AUTOZONE – COLLIERS INTERNATIONAL 16 Developments in the Las Vegas valley This popular destination is the 31st largest Metropolitan Statistical Area in the United States with over two million residents. With its strong economic recovery, Las Vegas has about $15 billion in construction projects that are planned, proposed or under construction. The following pages include a summary of these projects.

UNION VILLAGE LAS VEGAS MEDICAL DISTRICT $1.6 Billion estimated cost & UNLV MEDICAL LAS VEGAS PROJECT NEON Union Village is the first Integrated SCHOOL Health Village in the world and is listed ALL NET ARENA $900 Million estimated cost as the “largest healthcare building $3.6 Billion estimated cost project in the United States,” $1.4 Billion estimated cost Project Neon is the largest public according to Health Facilities Manage- works project in Nevada history. The Las Vegas Medical District was ment. This +/-$1.6 billion project is The All Net Arena’s site is located on Costing $900 million to complete, this initially concieved in 2002 in order to located at U.S. 95 and Galleria Drive in the north end of the Las Vegas Strip project will widen 3.7 miles of created a cohesive area for medical Henderson, Nevada. Sitting on where the former Wet ‘n’ Wild site Interstate 15 between Sahara Avenue education and healthcare that was 228-acres, this mixed-use healthcare was once located (just south of the and the “Spaghetti Bowl” interchange central to the Las Vegas Valley. It is complex is projected to create more SLS Resort). Construction is in downtown Las Vegas. This is known currently undergoing a $3.6 billion than 17,000 direct, indirect and underway on this $1.4 billion project for being the busiest stretch of expansion which is inclusive of a UNLV construction jobs. Once fully complete and will consist of +/-860,000 square highway in Nevada with 300,000 Medical School. This district is in 2022, it is expected to attract feet once completed in 2019. vehicles per day (one-tenth of the expected to bring in $181 million in 15,000 to 30,000 people a day. Additionally, the All Net Arena will state population). Currently, this Government revenue, as well as 24,182 Henderson Hospital opened fall of include a 22,000 seat retractable corridor has approximately 25,000 jobs by 2030. 2016 and is located inside the Union roof, a Victory Plaza shopping/dining lane changes in an hour and it’s been Village development. Costing $168 district, and a 44-story hotel with 500 predicted that traffic will double along million to construct, this local specialty suites. this stretch by 2035. Project Neon has acute-care hospital is part of the an estimated completion date of 2019. Valley Health System.

AUTOZONE – COLLIERS INTERNATIONAL 17 69 countries $2.7 billion in annual revenue* 2.0 billion square feet under management 15,400 professionals and staff $116 billion in total transaction value

*All statistics are for 2017, are in U.S. dollars and include affiliates.

EXCLUSIVE LISTING AGENT Copyright © 2018 Colliers International. The information contained herein has been obtained from Brian Fike sources deemed reliable. While every reasonable effort has Vice President been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are +1 702 836 3744 encouraged to consult their professional advisors prior to acting [email protected] on any of the material contained in this report.

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