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Single Tenant Absolute NNN Investment 4741 E. Charleston Boulevard, Las Vegas, Nevada 89104 Presented by

Newmark Grubb Knight Frank

Ben Millis - Owner/Licensee Managing Director 702.405.1726

Chris Beets Associate Director 702.289.4617

David A. Lipp, CCIM - Owner/Licensee Director 305.321.8824

Diane McKinney Marketing Coordinator 702.405.1724

3930 Howard Hughes Parkway, Suite 180 Las Vegas, NV 89169 Phone 702.733.7500 Fax 702.862.8242 EXECUTIVE SUMMARY...... 1 - 2

TENANT INFORMATION...... 4 - 5

AERIALS...... 7 - 8

DISCOUNTED CASH FLOW ANALYSIS...... 10 . THE COMPARABLES...... 11 - 18

LAS VEGAS RETAIL REPORT...... 20 - 22

LAS VEGAS OVERVIEW...... 24 - 29

DEMOGRAPHICS...... 31 - 32

ABOUT THE TEAM...... 34 - 38

DISCLAIMER...... 39

PERMITTED PLANS & ELEVATIONS - 2013...... 40 - 52

Table of Contents EXECUTIVE SUMMARY Destinations l i v i n g - Phase I

INVESTMENT SUMMARY

Price: $662,664 Cap Rate: 6.50% Price Per Sq. Ft.: $144.05 NOI: $43,072.56

LEASE SUMMARY

Annual Increases: 2% Lease Commencement: July 1, 2013 Lease Expiration: June 30, 2023 Term: 10 years Options: Two (2) Five (5) Year Options

Property Description

APN 161-05-510-007 Building Sq. Ft. ±4,600 Acres 0.63 Year Built 1977 / renovated 2013 Construction Wood / Stucco Design Store Front Glass Entry Retail Zoning General Commercial (C-2) Parking Ratio 10 / 1,000 (49 spaces) Traffic Counts 53,500 cars per day

1 EXECUTIVE SUMMARY Destinations l i v i n g - Phase I

INVESTMENT HIGHLIGHTS

CREDIT TENANT:

Corporate guarantee from TMX Finance LLC which has over 1,350 locations nationwide and has a debt rating of B3 from Moody’s.

ABSOLUTE NNN LEASE:

Tenant pays all operating expenses directly including taxes, insurance, repairs and maintenance. No management is required.

HIGH TRAFFIC / VISIBILITY:

Located on Charleston Blvd. with prominent signange and daily traffic of over 53,500 vehicles.

ASSUMABLE NON-RECOURSE FINANCING:

$240,000 at 5% interest 20 year amortization and matures May 31, 2023.

LOW TAX ENVIRONMENT:

No state tax, no income tax, no personal property tax, no inventory tax and very low property taxes.

BELOW MARKET RENT:

Provides upside and reduces risk for a long term owner.

2 EXECUTIVE SUMMARY TENANT INFORMATION Tenant Information

• TMX Finance is a privately held consumer specialty finance company based in Savannah, GA and founded in 1998. It is one of the largest, fastest growing and most profitable companies of its’ kind in the United States. The company was formerly known as TitleMax Holdings, LLC and changed its name to TMX Finance LLC in June 2010.

• Today the company has over 1,350 stores in 12 states. Their family of brands includes TitleMax, TitleBucks, TMX Credit and InstaLoan. They have aggressive growth plans to double in size over the next five years. In 2012, 250 new stores were opened. According to corporate officials, stores are rarely closed.

• TitleMax’s parent company, TMX Finance LLC has been given a LT Corporate Family Rating of B3 by Moody’s.

• The TitleMax brand offers title loans for lien-free vehicles as well as insurance products in connection with these loans. They have a reputation for lower finance rates (up to 50% less interest) and outstanding customer service. They offer a viable financial alternative to selling a vehicle, enabling the customer to keep their car, and possibly, as a result, their job.

• Websites: www.titlemax.biz www.titlemax.com www.tmxcareers.com

4 TeNANT INFORMATION Period Rent per Sq. Ft. Monthly Rent Annual Rent 1‐Jul‐13 to 30‐Jun‐14 $0.75 $3,450.00 $41,400.00 1‐Jul‐14 to 30‐Jun‐15 $0.77 $3,519.00 $42,228.00 1‐Jul‐15 to 30‐Jun‐16 $0.78 $3,589.38 $43,072.56 1‐Jul‐16 to 30‐Jun‐17 $0.80 $3,661.17 $43,934.01 1‐Jul‐17 to 30‐Jun‐18 $0.81 $3,734.39 $44,812.69 1‐Jul‐18 to 30‐Jun‐19 $0.83 $3,809.08 $45,708.95

1‐Jul‐19 to 30‐Jun‐20 $0.84 $3,885.26 $46,623.12 LEASE ABSTRACT 1‐Jul‐20 to 30‐Jun‐21 $0.86 $3,962.97 $47,555.59 1‐Jul‐21 to 30‐Jun‐22 $0.88 $4,042.22 $48,506.70 TENANT TitleMax of Nevada, Inc. 1‐Jul‐22 to 30‐Jun‐23 $0.90 $4,123.07 $49,476.83 GUARANTOR TMX Finance LLC 1‐Jul‐23 to 30‐Jun‐24 $0.91 $4,205.53 $50,466.37 1‐Jul‐24 to 30‐Jun‐25 $0.93 $4,289.64 $51,475.70 LEASE DOCUMENTS Lease Agreement - Dated April 26, 2013 1‐Jul‐25 to 30‐Jun‐26 $0.95 $4,375.43 $52,505.21 Estoppel Certificate - Dated March 25, 2014 1‐Jul‐26 to 30‐Jun‐27 $0.97 $4,462.94 $53,555.31 LEASE COMMENCEMENT July 1, 2013 1‐Jul‐27 to 30‐Jun‐28 $0.99 $4,552.20 $54,626.42 LEASE EXPIRATION June 30, 2023 1‐Jul‐28 to 30‐Jun‐29 $1.01 $4,643.25 $55,718.95 1‐Jul‐29 to 30‐Jun‐30 $1.03 $4,736.11 $56,833.33 LEASEHOLD SIZE 4,600 Square Feet 1‐Jul‐30 to 30‐Jun‐31 $1.05 $4,830.83 $57,969.99 SECURITY DEPOSIT $3,450.00 1‐Jul‐31 to 30‐Jun‐32 $1.07 $4,927.45 $59,129.39 RENEWAL OPTIONS Two (2) Five (5) year renewal options 1‐Jul‐32 to 30‐Jun‐33 $1.09 $5,026.00 $60,311.98

OPERATING EXPENSE Paid directly by Tenant Initial Term BASE RENT $3,450.00 Option #1 Option #2 Period Rent per Sq. Ft. Monthly Rent Annual Rent 1‐Jul‐13 to 30‐Jun‐14 $0.75 $3,450.00 $41,400.00 1‐Jul‐14 to 30‐Jun‐15 $0.77 $3,519.00 $42,228.00 1‐Jul‐15 to 30‐Jun‐16 $0.78 $3,589.38 $43,072.56 1‐Jul‐16 to 30‐Jun‐17 $0.80 $3,661.17 $43,934.01 1‐Jul‐17 to 30‐Jun‐18 $0.81 $3,734.39 $44,812.69 1‐Jul‐18 to 30‐Jun‐19 $0.83 $3,809.08 $45,708.95 1‐Jul‐19 to 30‐Jun‐20 $0.84 $3,885.26 $46,623.12 1‐Jul‐20 to 30‐Jun‐21 $0.86 $3,962.97 $47,555.59 1‐Jul‐21 to 30‐Jun‐22 $0.88 $4,042.22 $48,506.70 1‐Jul‐22 to 30‐Jun‐23 $0.90 $4,123.07 $49,476.83 1‐Jul‐23 to 30‐Jun‐24 $0.91 $4,205.53 $50,466.37 1‐Jul‐24 to 30‐Jun‐25 $0.93 $4,289.64 $51,475.70 1‐Jul‐25 to 30‐Jun‐26 $0.95 $4,375.43 $52,505.21 1‐Jul‐26 to 30‐Jun‐27 $0.97 $4,462.94 $53,555.31 1‐Jul‐27 to 30‐Jun‐28 $0.99 $4,552.20 $54,626.42 1‐Jul‐28 to 30‐Jun‐29 $1.01 $4,643.25 $55,718.95 1‐Jul‐29 to 30‐Jun‐30 $1.03 $4,736.11 $56,833.33 1‐Jul‐30 to 30‐Jun‐31 $1.05 $4,830.83 $57,969.99 1‐Jul‐31 to 30‐Jun‐32 $1.07 $4,927.45 $59,129.39 1‐Jul‐32 to 30‐Jun‐33 $1.09 $5,026.00 $60,311.98

Initial Term Option #1 Option #2 5 TeNANT INFORMATION aerials STEWART AVE D V L B

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8 aerials DISCOUNTED CASH FLOW ANALYSIS Destinations l i v i n g - Phase I

Initial Investment Performance Measures Before Tax Internal Rate of Return InitialPurchase InvestmentInitial Price InvestmentInitial Investment$662,664 Initial PerformanceInvestmentGross PerformanceRent Measures MultiplierPerformance Measures Measures15.38PerformanceBefore MeasuresTax InternalEOYBefore BeforeRateTax $Internal of TaxReturn Internal Rate Beforeof Rate Return Taxof Return Internal Rate of Return Initial Investment Performance Measures Before Tax Internal Rate of Return Purchase+ Price AcquisitionPurchasePurchase Price Costs$662,664 Price $662,664$3,313Purchase$662,664Gross Price Rent MultiplierCashGross on Rent$662,664 CashGross Multiplier Rent Multiplier15.38 Gross5.55%15.38 Rent Multiplier15.38EOY $EOY015.38EOY ($204,297) $ $ EOY $ Purchase Price $662,664 Gross Rent Multiplier 15.38 EOY $ + Acquisition+ Costs AcquisitionLoan Costs+ Acquisition Costs $3,313 Costs $3,313$2,320 Cash$3,313 on CashCashAcquisition on CashCash Capitalization on Cash5.55% Rate 5.55%6.50% 5.55%0 ($204,297)01 0 ($204,297)$11,328 ($204,297) + Acquisition Costs+ Acquisition$3,313 Costs $3,313Cash on Cash Cash on Cash5.55% 5.55%0 ($204,297) 0 ($204,297) + Loan Costs+- MortgageLoan Costs+ Loan Costs$2,320 $464,000$2,320 Acquisition$2,320 CapitalizationAcquisitionInternal RateAcquisition RateCapitalization of Return Capitalization6.50% Rate Rate13.00%6.50% 6.50%1 $11,32812 1 $11,328$12,190 $11,328 + Loan Costs + Loan Costs$2,320 $2,320Acquisition CapitalizationAcquisition Rate Capitalization6.50% Rate 6.50%1 $11,328 1 $11,328 - Mortgage= Initial Investment- Mortgage$464,000 $204,297$464,000Internal Rate ofNet Return PresentInternal Value Rate13.00% of Return $81,240 13.00%2 $12,1903 2 $13,069 $12,190 - Mortgage - Mortgage $464,000- Mortgage$464,000 Internal $464,000RateInternal of Return Rate of Return Internal13.00% Rate13.00% of Return 2 13.00%2 $12,190$12,190 2 $12,190 = Initial Investment $204,297 Net Present Value $81,240 3 $13,069 = Initial Initial=Investment Initial= Investment Initial Investment Investment$204,297= Initial$204,297 Investment$204,297 AdjustedNet PresentPerformance$204,297 NetInitialNet Value Present Present Investment ValueValue MeasuresNet$285,538$81,240 Present$81,240$81,240 Value Before43 $81,2403 Tax3 $13,965$13,069 Internal$13,069$13,069 Rate of3 Return $13,069 Adjusted Initial Investment $285,538 4 $13,965 PurchaseSale Proceeds Price Before$662,664 Tax AdjustedGross Rent AdjustedInitialAdjusted Multiplier Investment Initial Initial InvestmentInvestmentAdjusted$285,53815.38 Initial$285,538$285,538 Investment EOY45 $285,5384 4 $13,965$14,879 $ $13,965$13,965 4 $13,965 Sale Proceeds+ AcquisitionSaleSale Price Proceeds BeforeSale CostsSale Proceeds Tax BeforeProceeds$761,000 BeforeTax$3,313 SaleBefore TaxProceeds Tax BeforeCash on CashTax 5.55% 5 $14,879065 5 5 ($204,297)$15,811$14,879$14,879$14,879 5 $14,879 Sale Price $761,000 6 $15,811 +- CostLoanSale PriceofCosts SaleSale PriceSale Price $761,000$38,050$2,320Sale Price$761,000$761,000 Acquisition$761,000 Capitalization Rate 6.50% 716 6 6 $16,763$11,328$15,811$15,811$15,811+ 6 $339,460$15,811 - Cost of Sale $38,050 7 $16,763 + $339,460 - CostMortgage of- Sale Cost Balance- of Cost Sale of Sale $464,000$383,490$38,050- Cost of$38,050 Sale$38,050 Internal Rate$38,050 of Return 13.00% 72 7 7 $16,763$12,190$16,763$16,763+ +7 + $339,460$339,460$16,763$339,460 + $339,460 - Mortgage Balance $383,490 =- InitialSaleMortgage Proceeds Investment- Mortgage Balance- Mortgage Balance Balance$204,297$383,490$339,460- Mortgage$383,490$383,490 Balance Net Present$383,490 Value $81,240 3 $13,069 = Sale Proceeds $339,460 = Sale Proceeds= Sale= Proceeds Sale Proceeds$339,460= Sale Proceeds$339,460$339,460 Adjusted$339,460 Initial Investment $285,538 4 $13,965 Sale Proceeds Before Tax 5 $14,87913.00% 13.00% 13.00% AnnualSale Price Cash Flows Before$761,000 Tax 6 $15,81113.00% 13.00% 13.00% Annual Cash Flows BeforeAnnual TaxCash Flows Before Tax Annual- CostEOY ofAnnual Cash Sale Flows Cash BeforeFlows$38,050123 BeforeTax Tax 4 56787 $16,763 + $339,460 EOY EOY123Annual Cash123 Flows Before 4 Tax 5678 4 5678 - MortgageEPotentialOY ERental BalanceOY Income $383,490$43,073123123 $43,934 $44,813 $45,709 4 4 $46,623 5678 5678 $47,556 $48,507 $49,477 Potential Rental Income Potential$43,073 Rental Income $43,934EOY$43,073 $44,813 $43,934 $45,709123 $44,813 $46,623 $45,709 $47,556 $46,623 $48,507 4 $47,556 $49,477 $48,5075678 $49,477 =- SaleVacancyPotential Proceeds &PotentialRental Credit Income Losses Rental Income$339,460$43,073$43,073 $43,934 $43,934 $44,813 $44,813 $45,709 $45,709 $46,623 $46,623 $47,556 $47,556 $48,507 $48,507 $49,477 $49,477 - Vacancy & Credit Losses- Vacancy & Credit LossesPotential Rental$0 Income $0$43,073$0 $43,934$0 $44,813$0 $45,709$0 $46,623$0 $47,556$0 $48,507 $49,477 = Effective- Rental Vacancy Income & Credit Losses$43,073 $43,934 $44,813 $45,709 $46,623 $47,556 $48,507 $49,477 = Effective Rental- Vacancy Income & Credit= Effective$43,073 Losses Rental Income- $43,934 Vacancy &$43,073 Credit $44,813 Losses $43,934 $45,709 $44,813 $46,623 $45,709 $47,556 $46,623 $48,507 $47,556 $49,477 $48,507 $49,477 + Other Income= Effective Rental Income $43,073 $43,934 $44,813 $45,709 $46,623 $47,556 $48,507 $49,477 + Other Income= Effective Rental+ Other Income Income =$43,073 Effective Rental $43,934$0 Income $44,813$0$43,073$0 $45,709 $43,934 $46,623$0 $44,813$0 $47,556 $45,709$0 $48,507 $46,623 $0 $49,47713.00% $47,556$0 $48,507 $49,477 = Gross Operating Income $43,073 $43,934 $44,813 $45,709 $46,623 $47,556 $48,507 $49,477 = Gross OperatingAnnual+ Other Income Income+Cash Other= Flows Gross Income$43,073 Operating Before +Income $43,934 OtherTax Income$43,073 $44,813 $43,934 $45,709 $44,813 $46,623 $45,709 $47,556 $46,623 $48,507 $47,556 $49,477 $48,507 $49,477 - Real Estate=- GrossRealETaxesOY Estate =Operating Gross -Taxes Real Operating Income Estate TaxesIncome=$43,073123 Gross $43,073Operating $43,934 Income $43,934 $44,813$43,073 $44,813PAID $45,709 4 DIR $43,934ECTLY $45,709 $46,623 5678 $44,813BY TE $46,623NANT $47,556 $45,709 $47,556 $48,507 $46,623 $48,507 $49,477 $47,556 $49,477 $48,507 $49,477 - Insurance- RealInsurancePotential Estate- RealRental -Taxes Estate Insurance Income Taxes $43,073- Real Estate $43,934 Taxes $44,813PAID $45,709 DIRECTLY $46,623 BY TENANT $47,556 $48,507 $49,477 - Repairs &- Maintenance VacancyInsuranceRepairs- & & Insurance Maintenance Credit- Repairs Losses & Maintenance- Insurance PAID DIRECTLY BY TENANT - Landscaping PAID DIRECTLY BY TENANT - Landscaping=- EffectiveRepairsLandscaping- & Rental Repairs Maintenance Income & Maintenance$43,073- Repairs & Maintenance $43,934 $44,813 $45,709 $46,623 $47,556 $48,507 $49,477 - Miscellaneous PAID DIRECTLY BY TENANT - Miscellaneous+- OtherLandscapingMiscellaneous Income- Landscaping - Landscaping - Property Management $0 $0 $0 $0 $0 $0 $0 $0 - Property =Management- GrossMiscellaneousProperty Operating- Management Miscellaneous Income $43,073- Miscellaneous $43,934 $44,813 $45,709 $46,623 $47,556 $48,507 $49,477 = Net Operating Income $43,073 $43,934 $44,813 $45,709 $46,623 $47,556 $48,507 $49,477 = Net Operating=- PropertyNet Income Operating- Management Property Income$43,073 Management$43,073- $43,934 Property Management $43,934 $44,813 $44,813 $45,709 $46,623 $45,709 $47,556 $46,623 $48,507 $47,556 $49,477 $48,507 $49,477 - Real Estate -Taxes Annual Debt Service $31,744 $31,744 $31,744 $31,744 $31,744 $31,744 $31,744 - Annual Debt=-NetAnnual Service Operating= Debt Net ServiceOperating Income$31,744 Income$43,073$31,744 $31,744$43,073 $43,934$31,744 $31,744 $43,934 $44,813$31,744 $31,744 $44,813 $31,744 $45,709$31,744 $45,709 $31,744 $46,623$31,744 $46,623 $31,744 $47,556$31,744 $47,556 $48,507$31,744 $48,507 $49,477 $49,477 - Insurance - Leasing Commissions= Net Operating Income$0 $0$43,073$0 $43,934$0 $44,813$0 $45,709$0 $46,623$0 $47,556$0 $48,507 $49,477 - Leasing Commissions- AnnualLeasing- Debt Commissions Annual Service Debt Service $31,744$31,744 $31,744 $31,744 $31,744 $31,744 $31,744 $31,744 $31,744 $31,744 $31,744 $31,744 $31,744 $31,744 - Repairs & Maintenance= Cash Flow Before- Taxes Annual Debt$11 Service, 328 $12, 190$31,744$13, 069 $31,744$13, 965 $31,744$14, 879 $31,744$15, 811 $31,744$16, 763 $31,744 $31,744 = Cash Flow=- BeforeCash LandscapingLeasing Flow Taxes- Commissions Leasing Before $11Commissions Taxes, 328 $11-$12 Leasing, 328, 190 Commissions$12$13,, 190 069 $13$13, 069, 965 $14$13, 879, 965 $15$14, 811, 879 $16$15, 763, 811 $16, 763 =-Cash Miscellaneous Flow= Cash Before Flow Taxes Before Taxes=$11Cash, 328 Flow$11, 328 Before$12, 190 Taxes$12, 190$13, 069$11, 328$13, 069$13$12, 965, 190$13, 965$14$13, 879, 069$14, 879$15, 811discounted$13, 965$15, 811$16, 763$14, 879$16, 763 $15 cash, 811 $16, 763 - Property Management = Net Operating Income $43,073 $43,934 $44,813 $45,70910 $46,623 $47,556 flow $48,507 analysis $49,477 - Annual Debt Service $31,744 $31,744 $31,744 $31,744 $31,744 $31,744 $31,744 - Leasing Commissions = Cash Flow Before Taxes $11, 328 $12, 190 $13, 069 $13, 965 $14, 879 $15, 811 $16, 763 The comparables SALE COMPARABLES 1915 Rock Springs Dr - Raising Cane's SOLD 9791 S Eastern Ave - Silverado Ranch Plaza SOLD Las Vegas, NV 89128 4430 E Washington Ave - Roberto's Taco Shop - Azra Center SOLD 1 Sale on 4/7/2015 for $3,400,000 ($1,046.15/SF) - Research Complete196 N Nellis - Mattress Firm 6235 S Decatur Blvd SOLD Las Vegas, NV 89183 SOLD 4 Sale on 9/12/2014 for $3,000,000 ($694.44/SF) - Research CompleteLas Vegas, NV 89110 3,250 SF Retail Fast Food Building Built in 2013 Las Vegas, NV 89110 Las Vegas, NV 89118 5 Sale on 7/23/2014 for $1,235,657 ($664.33/SF) - Research Complete 2 Sale on 1/2/2015 for $1,650,000 ($362.64/SF) - Research Complete3 Sale on 9/24/2014 for $3,575,000 ($541.67/SF) - Research Complete 4,320 SF Retail Fast Food (Power Center) Building Built in 2000 1,860 SF Retail Fast Food (Strip Center) Building Built in 2000 4,550 SF Retail Freestanding Building Built in Oct 2014 6,600 SF Retail Restaurant Building Built in 2001

Transaction Details ID: 3230369Transaction Details ID: 3127269 Transaction Details TransactionID: 3117653 Details ID: 3079516 Transaction DetailsSale Date: 01/02/2015 (275 days on market) ID: 3276147SaleSale Type: Date: Investment09/24/2014 (19 days on market) Sale Type: Investment Sale Date: 07/23/2014 (37 days on market) Sale Type: Investment Comp 1 CompEscrow Length: 2 30 days CompEscrowBldg Type:Length: 3Retail- - Freestanding CompSaleBldg Date: Type: 4 09/12/2014Retail - Restaurant (60 days on market) CompSale 5 Type: Investment Escrow Length: Bldg Type: Sale Date: 04/07/2015 (97 days on market) Sale Price:Sale Type:$1,650,000-ConfirmedInvestment Year Built/Age:Sale Price: Built$3,575,000-Confirmed in Oct 2014 EscrowYear Built/Age: Length: 40Built days in 2001 Age: 13 Bldg Type:25 daysRetail - Fast Food (Power Center) Retail - Fast Food (Strip Center) Sale Price: $1,235,657-Confirmed Year Built/Age: Built in 2000 Age: 14 Escrow Length: - Asking Price:Bldg Type:$1,687,500Retail - Fast Food AskingGLA: Price: 4,550$3,625,000 SF Sale Price:GLA: $3,000,000-Confirmed6,600 SF Year Built/Age: Built in 2000 Age: 14 Address 1915 Rock Springs Dr. 196 N.Price/SF: Nellis 6235LandPrice/SF: Area: S. Decatur Blvd. 9791Land Area: S. Eastern Ave. 4430Asking Price: E. Washington$1,300,000 GLA: 1,860 SF Sale Price: $3,400,000-Confirmed Year Built/Age:$362.64 Built in 2013 Age: 2 0.63$541.67 AC (27,443 SF) Asking Price: $3,100,0001.73 AC (75,359 SF) GLA: 4,320 SF Price/AC Land Gross: $2,619,047.62 Price/AC Land Gross: $2,066,473.99 Price/SF: $694.44 Price/SF:Land Area:$664.330.17 AC (7,405 SF) Land Area: 0.60 AC (26,171 SF) Asking Price: $3,750,000 GLA: 3,250 SF Price/AC Land Gross: Las Vegas, NV 89128 Las Vegas, NV 89110 Las Vegas, NV 89118 Price/ACLas Land Vegas, Gross: $17,647,058.82 NV 89183 Las Vegas,$2,056,686.09 NV 89110 Price/SF: $1,046.15 Percent Leased:Land Area:- 0.61 AC (26,572 SF) Percent Leased: 100.0% Tenancy: Single Tenancy: Single Percent Improved: 64.2% Percent Leased: 100.0% Price/AC Land Gross: $5,573,770.49 Percent Leased: 100.0% Actual Cap Rate: 6.20% Actual Cap Rate: 6.75% Total Value Assessed: $275,752 in 2014 Tenancy: Single Percent Improved: 71.6% Tenancy: Single Percent Improved: 78.0% Sale Conditions: 1031 Exchange, Investment Triple Sale Conditions: Investment Triple Net Improved Value Assessed $177,140 Actual Cap Rate: 7.00% Total Value Assessed: $128,662 in 2014 Percent Leased: 100.0% Actual Cap Rate: Total Value Assessed: Net - Land Value Assessed: 6.48%$98,611 $414,363 in 2014 Year Built 2013Tenancy: Single 2014Percent Improved: 79.4% 2001 2000 Sale2000 Conditions: 1031 Exchange, Investment Triple Improved Value Assessed $92,072 Transfer Tax: $8,415 LandSale Assessed/AC: Conditions: Investment$57,000 Triple Net Improved Value AssessedNet $323,079 Actual Cap Rate: 6.80% Total Value Assessed: $927,943 in 2014 - Spacer Transfer Tax: $15,300 Land- Value Assessed: $91,284 Land Value Assessed: $36,590 Sale Conditions: Investment Triple Net ImprovedNo. ofValue Tenants: Assessed1 $736,625 No. of Tenants: 1 - Land Assessed/AC: $536,964 Land Assessed/AC: $60,902 Tenants at time of sale: - Land Value Assessed:Mattress$191,318 Firm Tenants at time of sale: Pt's Pub Spacer Spacer Financing: Down payment of $715,000.00 (43.3%) Size 3,250 SF 4,550Land Assessed/AC: SF $313,636 6,600 SF 4,320No. of Tenants: SF1 1,860No. of Tenants: 1 $935,000.00 from Stanford Federal Credit Union Legal Desc: Lot 2 of Decatur/Sobb as shown Bk143 Pg34 in Clark County, NV. Spacer Parcel No: 163-36-712-002 Tenants at time of sale: Krispy Kreme Donuts Tenants at time of sale: Roberto's Taco Shop Legal Desc: Por Lot 4 Regency Plaza Bk 49 pg 49. No. of Tenants: 1 Document No: 14092401355 Financing: Down payment of $1,235,657.00 (100.0%) Parcel No: Legal Desc: B90 P43 S26 T22S R61E 140-33-410-002 Spacer Tenants at time of sale: Raising Cane's Chicken Fingers Document No: 15010203119 Parcel No: 177-26-511-004 Legal Desc: Lot 2 pg 5 Transaction Notes Financing: Down payment of $3,400,000.00 (100.0%) Spacer Document No: 14091200731 Parcel No: 140-29-202-009 Sales Price $3,400,000 $1,650,000 Transaction Notes$3,575,000 Spacer$3,000,000 $1,235,657Document No: 14072300072 Parcel No: 138-22-714-005 On 9/24/2014, the 6,600 SF retail building at 6235 S. Decatur Blvd. was sold for $3,575,000. The property was occupied at time of sale. The transaction included a investment triple net sale condition. The lease details were not verified. The in-place net operating income wasTransactionSpacer Notes Sale History: Sold for $3,400,000 ($1,046.15/SF) on 4/7/2015*Sale Price: The listing broker reported that the property was occupied at timereported of sale. to Thebe $244,552.80 buyer will continue for 2014, to operateyielding thean actualproperty cap as rate an of 6.75%. Transaction Notes investment. There was no deferred maintenance reported for this property. Sold for $3,400,000 ($1,046.15/SF) on 4/7/2015 On 9/12/2014, the 4,320 SF retail property at 9791 S. Eastern Ave. was sold for $3,000,000. The property was 100% occupied by Krispy The details were verified with the listing and buyer broker. Spacer Kreme. *Escrow was 25 days. *Cap Rate: The cap rate shown was reported by the listing broker and was based on actual income at time of sale. Income Expense Data Price per Square Foot $1,046.15 Transaction$362.64 Notes $541.67 $694.44 $664.33 *Condition (NNN Investment): The buyer has acquired the NNN income stream for this property. The in-place net operating income was reported to be $194,400 for *All2014, Cash yielding Transaction. an actual cap rate of 6.48%. Current tenant is on a NNN Expenses -lease, Taxes the term is unknown.$8,092 The sale included a 3,250 SF nnn leased restaurant building. *Exchange: This was the buyer's upleg in a 1031 exchange. - Operating Expenses *1031 Exchange on the buyer side. Total ExpensesThe listed details were $8,092verified with the listing and buyer brokers. *The property was 100% occupied at the time of sale.

Sale Date April 7, 2015 January 2, 2015 September 24, 2014 September 12, 2014 *No CAPJuly rate was23, confirmed. 2014 Copyrighted report licensed to Newmark Grubb Knight Frank - 257942. Copyrighted report licensed5/6/2015 to Newmark Grubb Knight Frank - 257942. 5/6/2015 Page 3 Page 5

Copyrighted report licensed to Newmark Grubb Knight Frank - 257942. 5/6/2015 Page 9 Copyrighted report licensed to Newmark Grubb Knight Frank - 257942. 5/6/2015 Tenant Raising Canes Mattress Firm PT’s Pub Krispy Kreme Donuts Roberto’s Taco Shop Page 7

Copyrighted report licensed to Newmark Grubb Knight Frank - 257942. 5/6/2015 Cap 6.80% 6.20% 6.75%Page 1 6.48% 7.00%

12 the comparables 1915 Rock Springs Dr - Raising Cane's SOLD 1915 Rock Springs Dr - Raising Cane's SOLD Las Vegas, NV 89128 3,250 SF Retail Fast Food Building Built in 2013 (con't) 1 Sale on 4/7/2015 for $3,400,000 ($1,046.15/SF) - Research Complete 3,250 SF Retail Fast Food Building Built in 2013 Current Retail Information ID: 9560682

Property Type: Retail - Fast Food GLA: 3,250 SF Center: Raising Cane's Total Avail: 0 SF Bldg Status: Built in 2013 % Leased: 100.0% Owner Type: Individual Bldg Vacant: 0 SF Zoning: C-1 Land Area: 0.61 AC Owner Occupied: - Lot Dimensions: - Building FAR: 0.12

Rent/SF/mo: - No. of Stores: - CAM: -

Street Frontage: 57 feet on Rock Springs Parking: 10 Surface Spaces are available Location Information Metro Market: Las Vegas Submarket: Northwest Las Vegas/Northwest Las Vegas County: Clark CBSA: Transaction Details ID: 3276147 Las Vegas-Paradise, NV CSA: Las Vegas-Paradise-Pahrump, NV Sale Date: 04/07/2015 (97 days on market) Sale Type: Investment DMA: Las Vegas, NV Escrow Length: - Bldg Type: Retail - Fast Food Spacer Sale Price: $3,400,000-Confirmed Year Built/Age: Built in 2013 Age: 2 Asking Price: $3,750,000 GLA: 3,250 SF Price/SF: $1,046.15 Land Area: 0.61 AC (26,572 SF) Price/AC Land Gross: $5,573,770.49

Percent Leased: 100.0% Tenancy: Single Percent Improved: 79.4% Actual Cap Rate: 6.80% Total Value Assessed: $927,943 in 2014 Sale Conditions: Investment Triple Net Improved Value Assessed $736,625 - Land Value Assessed: $191,318 Land Assessed/AC: $313,636 Spacer No. of Tenants: 1 Tenants at time of sale: Raising Cane's Chicken Fingers Financing: Down payment of $3,400,000.00 (100.0%) Parcel No: 138-22-714-005 Sale History: Sold for $3,400,000 ($1,046.15/SF) on 4/7/2015 Sold for $3,400,000 ($1,046.15/SF) on 4/7/2015 Spacer Transaction Notes

The sale included a 3,250 SF nnn leased restaurant building.

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13 the comparables 196 N Nellis - Mattress Firm SOLD 196 N Nellis - Mattress Firm SOLD Las Vegas, NV 89110 4,550 SF Retail Freestanding Building Built in Oct 2014 (con't) 2 Sale on 1/2/2015 for $1,650,000 ($362.64/SF) - Research Complete 4,550 SF Retail Freestanding Building Built in Oct 2014 Current Retail Information ID: 9203525

Property Type: Retail - Freestanding GLA: 4,550 SF Center: Mattress Firm Total Avail: 0 SF Bldg Status: Built in Oct 2014 % Leased: 100.0% Owner Type: Individual Bldg Vacant: 0 SF Zoning: C-2 Land Area: 0.63 AC Owner Occupied: No Lot Dimensions: - Building FAR: 0.17

Rent/SF/mo: - No. of Stores: - CAM: -

Street Frontage: 69 feet on N Nellis (with 1 curb cut) Expenses: 2013 Tax @ $0.55/sf Parking: 28 free Surface Spaces are available Features: Bus Line, Pylon Sign, Signage Location Information Metro Market: Las Vegas Submarket: Transaction Details ID: 3230369 North Las Vegas/North Las Vegas County: Clark Sale Date: 01/02/2015 (275 days on market) Sale Type: Investment CBSA: Las Vegas-Paradise, NV Escrow Length: 30 days Bldg Type: Retail - Freestanding CSA: Las Vegas-Paradise-Pahrump, NV Sale Price: $1,650,000-Confirmed Year Built/Age: Built in Oct 2014 DMA: Las Vegas, NV Asking Price: $1,687,500 GLA: 4,550 SF Spacer Price/SF: $362.64 Land Area: 0.63 AC (27,443 SF) Price/AC Land Gross: $2,619,047.62

Percent Leased: - Tenancy: Single Actual Cap Rate: 6.20% Sale Conditions: 1031 Exchange, Investment Triple Net Transfer Tax: $8,415 - No. of Tenants: 1 Tenants at time of sale: Mattress Firm Financing: Down payment of $715,000.00 (43.3%) $935,000.00 from Stanford Federal Credit Union Legal Desc: Por Lot 4 Regency Plaza Bk 49 pg 49. Parcel No: 140-33-410-002 Document No: 15010203119 Spacer Transaction Notes

*Sale Price: The listing broker reported that the property was occupied at time of sale. The buyer will continue to operate the property as an investment. There was no deferred maintenance reported for this property.

*Cap Rate: The cap rate shown was reported by the listing broker and was based on actual income at time of sale.

*Condition (NNN Investment): The buyer has acquired the NNN income stream for this property.

*Exchange: This was the buyer's upleg in a 1031 exchange.

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14 the comparables 6235 S Decatur Blvd SOLD 6235 S Decatur Blvd SOLD Las Vegas, NV 89118 6,600 SF Retail Restaurant Building Built in 2001 (con't) 3 Sale on 9/24/2014 for $3,575,000 ($541.67/SF) - Research Complete 6,600 SF Retail Restaurant Building Built in 2001 Current Retail Information ID: 987768

Property Type: Retail - Restaurant GLA: 6,600 SF Center: - Total Avail: 0 SF Bldg Status: Built in 2001 % Leased: 100.0% Owner Type: Individual Bldg Vacant: 0 SF Zoning: C-2 Land Area: 1.73 AC Owner Occupied: Yes Lot Dimensions: - Building FAR: 0.09

Rent/SF/mo: - No. of Stores: - CAM: -

Street Frontage: 194 feet on Decatur Blvd 95 feet on Sobb Ave Expenses: 2014 Tax @ $1.23/sf Parking: 65 free Surface Spaces are available Features: Bus Line Location Information Metro Market: Las Vegas Transaction Details ID: 3127269 Submarket: Southwest Las Vegas/Southwest Las Vegas County: Sale Date: 09/24/2014 (19 days on market) Sale Type: Investment Clark CBSA: Escrow Length: - Bldg Type: Retail - Restaurant Las Vegas-Paradise, NV Sale Price: $3,575,000-Confirmed Year Built/Age: Built in 2001 Age: 13 CSA: Las Vegas-Paradise-Pahrump, NV Asking Price: $3,625,000 GLA: 6,600 SF DMA: Las Vegas, NV Price/SF: $541.67 Land Area: 1.73 AC (75,359 SF) Spacer Price/AC Land Gross: $2,066,473.99

Percent Leased: 100.0% Tenancy: Single Percent Improved: 64.2% Actual Cap Rate: 6.75% Total Value Assessed: $275,752 in 2014 Sale Conditions: Investment Triple Net Improved Value Assessed $177,140 - Land Value Assessed: $98,611 Land Assessed/AC: $57,000 Spacer No. of Tenants: 1 Tenants at time of sale: Pt's Pub Legal Desc: Lot 2 of Decatur/Sobb as shown Bk143 Pg34 in Clark County, NV. Parcel No: 163-36-712-002 Document No: 14092401355 Spacer Transaction Notes

On 9/24/2014, the 6,600 SF retail building at 6235 S. Decatur Blvd. was sold for $3,575,000. The property was occupied at time of sale. The transaction included a investment triple net sale condition. The lease details were not verified. The in-place net operating income was reported to be $244,552.80 for 2014, yielding an actual cap rate of 6.75%.

The details were verified with the listing and buyer broker. Income Expense Data

Expenses - Taxes $8,092 - Operating Expenses Total Expenses $8,092

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15 the comparables 9791 S Eastern Ave - Silverado Ranch Plaza SOLD 9791 S Eastern Ave - Silverado Ranch Plaza SOLD Las Vegas, NV 89183 4,320 SF Retail Fast Food (Power Center) Building Built in 2000 (con't) 4 Sale on 9/12/2014 for $3,000,000 ($694.44/SF) - Research Complete 4,320 SF Retail Fast Food (Power Center) Building Built in 2000 Income Expense Data

Expenses - Taxes $4,256 - Operating Expenses Total Expenses $4,256

Current Retail Information ID: 983189

Property Type: Retail - Fast Food (Power Center) GLA: 4,320 SF Center: Silverado Ranch Plaza Total Avail: 0 SF Bldg Status: Built in 2000 % Leased: 100.0% Owner Type: Trust Bldg Vacant: 0 SF Zoning: C-2 Land Area: 0.17 AC Owner Occupied: No Lot Dimensions: - Building FAR: 0.58

Rent/SF/mo: - No. of Stores: - CAM: -

Street Frontage: 41 feet on Eastern Ave (with 1 curb cut) Transaction Details ID: 3117653 Expenses: 2014 Tax @ $0.99/sf Parking: 40 free Surface Spaces are available Sale Date: 09/12/2014 (60 days on market) Sale Type: Investment Features: Bus Line, Dedicated Turn Lane, Drive Thru, Signage, Signalized Intersection Escrow Length: 40 days Bldg Type: Retail - Fast Food (Power Center) Location Information Sale Price: $3,000,000-Confirmed Year Built/Age: Built in 2000 Age: 14 Park Name: Silverado Ranch Plaza Asking Price: $3,100,000 GLA: 4,320 SF Metro Market: Las Vegas Price/SF: $694.44 Land Area: 0.17 AC (7,405 SF) Submarket: South Las Vegas/South Las Vegas Price/AC Land Gross: $17,647,058.82 County: Clark Percent Leased: 100.0% CBSA: Las Vegas-Paradise, NV Tenancy: Single Percent Improved: 78.0% CSA: Las Vegas-Paradise-Pahrump, NV Actual Cap Rate: 6.48% Total Value Assessed: $414,363 in 2014 DMA: Las Vegas, NV Sale Conditions: Investment Triple Net Improved Value Assessed $323,079 Spacer Transfer Tax: $15,300 Land Value Assessed: $91,284 Property Notes - Land Assessed/AC: $536,964 Spacer The property consists of a one story retail building with drive thru and is situated on 0.17 acres. The property is offers great visibility, dense housing population and convenience for all types of businesses looking to locate in the area. As of 2013, there were approximately 272,773 No. of Tenants: 1 residents living within a five (5) mile radius and the average household income was $79,386. Tenants at time of sale: Krispy Kreme Donuts Within the South Las Vegas submarket, the subject property is located in the Silverado Ranch Plaza at the southwest corner of Eastern Legal Desc: B90 P43 S26 T22S R61E Ave. and Silverado Ranch Blvd., having the civic address of 9791 S. Eastern Ave. The property offers easy access to Interstate 215 via Eastern Ave. approximately 0.8 miles north of the property, and St. Rose Parkway along with St. Rose Dominican Hospital is approximately Parcel No: 177-26-511-004 0.41 miles south of the property. Eastern is the primary corridor leading south to multiple master-planned communities. Document No: 14091200731 Spacer Transaction Notes

On 9/12/2014, the 4,320 SF retail property at 9791 S. Eastern Ave. was sold for $3,000,000. The property was 100% occupied by Krispy Kreme.

The in-place net operating income was reported to be $194,400 for 2014, yielding an actual cap rate of 6.48%. Current tenant is on a NNN lease, the term is unknown.

The listed details were verified with the listing and buyer brokers.

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16 the comparables 4430 E Washington Ave - Roberto's Taco Shop - Azra Center SOLD 4430 E Washington Ave - Roberto's Taco Shop - Azra Center SOLD Las Vegas, NV 89110 1,860 SF Retail Fast Food (Strip Center) Building Built in 2000 (con't) 5 Sale on 7/23/2014 for $1,235,657 ($664.33/SF) - Research Complete 1,860 SF Retail Fast Food (Strip Center) Building Built in 2000 Income Expense Data

Expenses - Taxes $4,220 - Operating Expenses Total Expenses $4,220

Net Income Net Operating Income $86,450 - Debt Service - Capital Expenditure Cash Flow Current Retail Information ID: 7706174

Property Type: Retail - Fast Food (Strip Center) GLA: 1,860 SF Center: Azra Center Total Avail: 0 SF Bldg Status: Built in 2000 % Leased: 100.0% Owner Type: Individual Bldg Vacant: 0 SF Zoning: C-1 Land Area: 0.60 AC Owner Occupied: No Lot Dimensions: - Building FAR: 0.07

Transaction Details ID: 3079516 Rent/SF/mo: - No. of Stores: - CAM: - Sale Date: 07/23/2014 (37 days on market) Sale Type: Investment Escrow Length: 25 days Bldg Type: Retail - Fast Food (Strip Center) Expenses: 2014 Tax @ $2.27/sf Sale Price: $1,235,657-Confirmed Year Built/Age: Built in 2000 Age: 14 Parking: 31 free Surface Spaces are available Asking Price: $1,300,000 GLA: 1,860 SF Features: Bus Line, Dedicated Turn Lane, Drive Thru, Pylon Sign, Signage, Signalized Intersection Price/SF: $664.33 Land Area: 0.60 AC (26,171 SF) Location Information Price/AC Land Gross: $2,056,686.09 Park Name: Azra Center Percent Leased: 100.0% Located: E Washington Ave Tenancy: Single Percent Improved: 71.6% Metro Market: Las Vegas Actual Cap Rate: 7.00% Total Value Assessed: $128,662 in 2014 Submarket: North Las Vegas/North Las Vegas Sale Conditions: 1031 Exchange, Investment Triple Improved Value Assessed $92,072 County: Clark Net CBSA: Las Vegas-Paradise, NV - Land Value Assessed: $36,590 CSA: Las Vegas-Paradise-Pahrump, NV Land Assessed/AC: $60,902 DMA: Las Vegas, NV Spacer Spacer No. of Tenants: 1 Tenants at time of sale: Roberto's Taco Shop Financing: Down payment of $1,235,657.00 (100.0%) Legal Desc: Lot 2 pg 5 Parcel No: 140-29-202-009 Document No: 14072300072 Spacer Transaction Notes

*Escrow was 25 days.

*All Cash Transaction.

*1031 Exchange on the buyer side.

*The property was 100% occupied at the time of sale.

*No CAP rate was confirmed.

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17 the comparables CRAIG RD

R R North NELLIS D North A N O C Las Vegas AFB G Las Vegas H 4741 E Charleston Blvd N O

A D

R R

D CHEYENNE AVE

B LAS VEGAS, NEVADA

¤£95 M

A #$!"15 L

LAKE MEAD BLVD (!1 CRAIG RD SALE COMPS

R R North NELLIS D North A N O C Las Vegas AFB G Las Vegas H 4741 E Charleston Blvd N O A D (!5 1915 Rock Springs Dr R R 1 U (!

D Las Vegas, NV 89128

D CHEYENNE AVE

L NELLIS BLVD

B Downtown B LAS VEGAS, NEVADA

O ¤£95 M

O A 196 N Nellis Blvd

L #!$"15 !2 W (!2 ( Y CHARLESTON BLVD Las Vegas, NV 89110

4741 E CHARLESTON BLVDLAKE MEAD_ BLVD O

^ H OAKEY(!1 BLVD SALE COMPS (!3 6235 S Decatur Blvd SAHARA AVE Las Vegas, NV 89118

R D

D V L 1915 Rock Springs Dr O (!5 B L (!1

A S D 9791Las S EasternVegas, NVAve 89128

A V

F DESERT INN RD G L (!4 NELLIS BLVD Las Vegas, NV 89183

U E

B V B Downtown

D S A O

L O 196 N Nellis Blvd !2 W (!2 ( Y CHARLESTON BLVD Las Vegas, NV 89110

L 4430 E Washington Ave FLAMINGO RD L !5

O ( Las 4741 E CHARLESTON BLVD _ Las Vegas, NV 89110

^ H OAKEY BLVD Vegas UNLV (!3 6235 S Decatur Blvd SAHARA AVE Strip Las Vegas, NV 89118

PECOS RD PECOS TROPICANA AVE

VALLEY VIEW BLVD D

D V L

O B

A S 9791 S Eastern Ave

F A F DESERT INN RD G (!4 Las Vegas, NV 89183

U E Chris Beets Ben Millis

DECATUR BLVD V B McCarran RUSSELL RD B S O Associate Director Director A 515 U InternationalL #$!" L D 702.733.7500 702.733.7500 E "15 R #!$ Airport [email protected] 4430 E [email protected] Ave H (!3 FLAMINGO RD W (!5 Las Vegas, NV 89110 Las SUNSET RD Y Vegas UNLV Strip

PECOS RD PECOS TROPICANA AVE VALLEY VIEW BLVD WARM SPRINGS RD

Chris Beets Ben Millis

DECATUR BLVD McCarran RUSSELL RD B O Associate Director Director 515 U WINDMILL LNInternational #$!" L D 702.733.7500 702.733.7500 E "15 EASTERN AVE R #!$ Airport 215 Green Map Prepared:[email protected] May 2015 [email protected] $!" Green H (!3 # W ValleySUNSET RD Y O Miles PEBBLE RD 02461

GIS Services - 602.952.3800 WARM SPRINGS RD 2398 E. Camelback Rd., Suite 950 Phoenix, AZ 85016

Mountains SILVERADO RANCH BLVD The maps and map data are provided "as-is" and are not legal surveys or legal descriptions. Newmark Grubb Knight Frank explicitly disclaims any representations and warranties as to the accuracy, timeliness, or completeness of maps and data provided herein. The maps and data (!4 presented here are aggregated from a wide variety of sources believed to be reliable. NGKF and its employees shall assume no liability for any Edge decisions made or not made by the user. Maps and data are dynamic and in a constant state of maintenance, correction and update. No part of this work may be reproduced or transmitted in any form, except as expressly permitted in writing by NGKF. WINDMILL LN #$!"215 EASTERN AVE Green Map Prepared: May 2015 Valley O Miles PEBBLE RD 02461

GIS Services - 602.952.3800 18 TeNANT INFORMATION2398 E. Camelback Rd., Suite 950 Phoenix, AZ 85016 Mountains SILVERADO RANCH BLVD The maps and map data are provided "as-is" and are not legal surveys or legal descriptions. Newmark Grubb Knight Frank explicitly disclaims any representations and warranties as to the accuracy, timeliness, or completeness of maps and data provided herein. The maps and data (!4 presented here are aggregated from a wide variety of sources believed to be reliable. NGKF and its employees shall assume no liability for any Edge decisions made or not made by the user. Maps and data are dynamic and in a constant state of maintenance, correction and update. No part of this work may be reproduced or transmitted in any form, except as expressly permitted in writing by NGKF. LAS VEGAS RETAIL REPORT Las Vegas � First Quarter 2015 First Quarter 2015 – Las Vegas Las Vegas Retail Market Las Vegas Retail Market Leasing Activity

Historical Rental Rates Based on NNN Rental Rates

Power Center Specialty Center General Retail Shopping Center Mall Total Market

$80.00

$70.00

$60.00

$50.00

$40.00 llars/SF/Year

Do $30.00

$20.00

$10.00 Las Vegas � First Quarter 2015 First Quarter 2015 – Las Vegas $0.00 Las Vegas Retail Market2005 3q 2006 3q 2007 3q 2008 3q 2009 3q 2010 3q 2011 3q 2012 3q 2013 3q 2014 3qLas Vegas Retail Market Leasing ActivitySource: CoStar Property®

Historical Rental Rates Vacancy by Available Space Type Vacancy by Building Type Based on NNN Rental Rates Percent of All Vacant Space in Direct vs. Sublet Percent of All Vacant Space by Building Type

Power Center Specialty Center General Retail Shopping Center Mall Total Market 9% Shopping Center

$80.00

$70.00 General Retail

$60.00 Power Center $50.00

$40.00

llars/SF/Year Mall

Do $30.00

$20.00 Las LasVegas Vegas � First � First Quarter Quarter 2015 2015 FirstFirst Quarter Quarter 2015 2015 – Las – LasVegas Vegas Las Vegas � First Quarter 2015 Las Vegas � First Quarter 2015 91% Specialty Center First Quarter 2015 – Las Vegas First Quarter 2015 – Las Vegas $10.00

LasLasLas VegasVegas Vegas RetailRetail Retail$0.00 MarketMarket MarketLas Vegas Retail Market Lease Direct Sublet LasLasLas VegasVegas Vegas RetailRetail Retail0% 10% MarketMarket 20%MarketLas30% Vegas40% 50% Retail60% 70% 80%Market LeasingLeasing Activity Activity 2005 3q 2006 3q 2007 3q 2008 3q 2009 3q 2010 3q 2011 3q 2012 3q 2013 3q 2014 3q Leasing Activity Leasing Activity Source: CoStar Property® Source: CoStar Property® Source: CoStar Property® HistoricalHistoricalHistorical RentalRental Rental RatesRates RatesHistorical Rental Rates GLA By Building Type Future Space Available Based on NNN Rental Rates BasedBased on on NNN NNN Rental Rental Rates Rates Based on NNN Rental Rates Vacancy by Available Space Type RatioVacancy of Total GLA by by BuildingBuilding Type Type Space Scheduled to be Available for Occupancy* Percent of All Vacant Space in Direct vs. Sublet Percent of All Vacant Space by Building Type Power Center Specialty Center General Retail Shopping Center Mall Total Market PowerPower Center Center SpecialtySpecialty Center Center GeneralGeneralPower Retail RetailCenter ShoppingShoppingSpecialty Center Center Center MallMallGeneral RetailTotalTotal Market MarketShopping Center Mall Total Market 0.6 Shopping Center 9% 0.49 $80.00 Shopping Center 0.5 $80.00$80.00 $80.00 General Retail $70.00$70.00 $70.00 $70.00 0.4 General Retail $60.00 $60.00$60.00 $60.00 $50.00 Power Center 0.3 $50.00$50.00 $50.00 Power Center $40.00 Millions $40.00$40.00 $40.00

llars/SF/Year 0.2 llars/SF/Year llars/SF/Year llars/SF/Year Mall

Do $30.00 Do $30.00 Do $30.00 Do $30.00 Mall 0.09 $20.00 0.1 $20.00$20.00 $20.00 $10.00 Specialty Center 0.00 0.00 0.00 0.00 $10.00$10.00 $10.00 91% Specialty Center 0.0 $0.00$0.00 $0.00 $0.00 Millions of SF 0102030405060 2015 2q 2016 2q 20052005 3q 3q 20062006 3q 3q 20072007 3q 3q 20082008 3q 3q 20092009 3q 3q 20102010 3q 3q 20112011 3q 3q 20122012 3q 3q 20132013 3q 3q 20142014 3q 3q 2005 3q 2006 3q 2007 3q 20052008 3q 3q 20062009 3q 3q 20072010 3q 3q 20082011 3q 3q Direct20092012 3qSublet 3q 20102013 3q 3q 20112014 3q 3q 2012 3q 2013 3q0% 10%2014 3q20% 30% 40% 50% 60% 70% 80% Source: CoStar Property® * Includes Under Construction Spaces Source: CoStar Property® Source:Source: CoStar CoStar Property® Property® Source: CoStar Property® Source: CoStar Property® Source: CoStar Property® Source: CoStar Property®

12 The CoStar Retail Report ©2015 CoStar Group, Inc. ©2015 CoStar Group, Inc. The CoStar Retail Report 13 VacancyVacancyVacancy byby by AvailableAvailable AvailableVacancy SpaceSpace Space by TypeType Type AvailableGLAVacancyVacancyVacancy BySpace Building byby Typeby BuildingBuilding Building TypeVacancy TypeType Type by BuildingFuture Type Space Available Percent of All Vacant Space in Direct vs. Sublet Percent of All Vacant Space by Building Type PercentPercent of of All All Vacant Vacant Space Space in in Direct DirectPercent vs. vs. Sublet Sublet of All Vacant Space in DirectRatioPercentPercent ofvs. Total Sublet of of All AllGLA Vacant Vacant by Building Space Space by Typeby Building BuildingPercent Type Type of All Vacant Space by SpaceBuilding Scheduled Type to be Available for Occupancy*

0.6 9% 9% 9% 9% ShoppingShopping Center Center ShoppingShopping Center Center Shopping Center 0.49 0.5

General Retail GeneralGeneralGeneral Retail Retail Retail General Retail 0.4

Power Center PowerPowerPower Center Center Center Power Center 0.3 Millions Mall 0.2 MallMallMall Mall 0.09 0.1 Specialty Center 91%91% SpecialtySpecialty Center Center Specialty Center 91% 91% Specialty Center 0.00 0.00 0.00 0.00 0.0 Direct Sublet 0% 10% 20% 30% 40% 50% 60% 70% 80% 2015 2q 2016 2q DirectDirect SubletSublet Direct SubletMillions of SF 010%0% 10%10%0220%20%0330%30% 0440%40% 50%50%0560%60%0%0670%70%10%080%80%20% 30% 40% 50% 60% 70% 80% Source:Source: CoStar CoStar Property® Property® Source:Source: CoStar CoStar Property® Property® Source: CoStar Property® Source: CoStar Property® Source:Source: CoStar CoStar Property® Property® Source: CoStar Property® * Includes Under Construction Spaces Source: CoStar Property®

GLAGLAGLA ByBy By BuildingBuilding Building TypeType TypeGLA By Building1 2 TypeFutureFutureFuture SpaceSpace Space AvailableAvailable AvailableFuture SpaceThe CoStar RetailAvailable Report ©2015 CoStar Group, Inc. ©2015 CoStar Group, Inc. The CoStar Retail Report 13 RatioRatioRatio of of ofTotal Total Total GLA GLA GLA by by byBuilding Building Building Type Type TypeRatio of Total GLA by Building TypeSpaceSpaceSpace Scheduled Scheduled Scheduled to to tobe be beAvailable Available Available for for forSpace Occupancy* Occupancy* Occupancy* Scheduled to be Available for Occupancy* 0.6 0.60.6 0.6 Shopping Center ShoppingShopping Center Center Shopping Center 0.490.49 0.5 0.49 0.49 LAS VEGAS RETAIL REPORT 0.50.5 20 0.5 General Retail GeneralGeneral Retail Retail General Retail 0.4 0.40.4 0.4

Power Center 0.3 PowerPower Center Center Power Center 0.30.3 0.3 Millions Millions Millions Millions 0.2 Mall 0.20.2 0.2 MallMall Mall 0.09 0.1 0.090.09 0.09 0.10.1 0.1 Specialty Center SpecialtySpecialty Center Center 0.00 0.00 0.00 0.00 Specialty Center 0.000.00 0.000.00 0.000.00 0.000.000.00 0.00 0.00 0.00 0.0 0.00.0 0.0 2015 2q 2016 2q Millions of SF 0102030405060 20152015 2q 2q 201520162016 2q 2q 2q 2016 2q MillionsMillions of of SF SF 010102020303Millions0404 of0505 SF 0106060200 030405060 Source: CoStar Property® * Includes Under Construction Spaces Source: CoStar Property® Source:Source: CoStar CoStar Property® Property® Source: CoStar Property® * *Includes Includes Under Under Construction Construction Spaces Spaces Source: Source: CoStar CoStar* IncludesProperty® Property® Under Construction Spaces Source: CoStar Property®

12 12 The CoStar Retail Report ©2015©2015 CoStar CoStar Group, Group, Inc. Inc. ©2015 CoStar Group, Inc. The CoStar Retail Report 13 12 12 TheThe CoStar CoStar Retail Retail Report Report The CoStar Retail Report ©2015 CoStar Group, Inc. ©2015©2015©2015 CoStar CoStar CoStar Group, Group, Group, Inc. Inc. Inc. ©2015 CoStar Group, Inc. TheThe CoStar CoStar Retail Retail Report Report The CoStar Retail Report 1313 13 Las Vegas � First Quarter 2015 First Quarter 2015 – Las Vegas Las Vegas Retail Market Las Vegas Retail Market Sales Activity

The Optimist Sales Index Average of Two Highest Price/SF's and Two Lowest Cap Rates

Cap Rate Price/SF 12.0% $500

$450 10.0% $400

$350 8.0% Do $300 llars/SF 6.0% $250

$200 4.0% $150 Cap Rate Percentage $100 2.0% $50

0.0% $0 2012 1q 2013 1q 2014 1q

Las Vegas � First Quarter 2015 Source: CoStar COMPS® First Quarter 2015 – Las Vegas Las Vegas Retail Market Las Vegas Retail Market Sales ActivitySales Volume & Price Sales Analysis by Building Size Based on Retail Building Sales of 15,000 SF and Larger Based on Retail Building Sales From Jan. 2014 - Dec. 2014 Bldg Size # RBA $ Volume Price/SF Cap Rate Average of Two Highest Price/SF's Salesand VolumTwoe Lowest Cap RatesPrice/SF The Optimist Sales Index $1,200 $400 Cap Rate Price/SF 12.0% $350$500 < 25,000 SF 170 1,398,991 $364,536,312 $ 260.57 7.56% $1,000 $450 10.0% $300 $400 $800 $250$350 8.0% Price/SF 25K-99K Do 32 1,593,398 $230,182,502 $ 144.46 7.59% $300 SF llars/SF $600 $200 6.0% $250

$150$200 4.0% $400 $150 100K-249K

Cap Rate Percentage 7 923,650 $243,825,000 $ 263.98 6.39% $100 SF $100

2.0% Millions of Sales Volume Dollars $200 $50 $50 Las Vegas � First Quarter 2015 First Quarter 2015 – Las Vegas Las Vegas � First Quarter 2015 0.0% $0 First Quarter 2015 – Las Vegas Las Vegas � First Quarter 2015 2012 1q 2013 1q $0 2014 1q $0 >250K SF 1 256,741 $5,302,500 $ 20.65 - First Quarter 2015 – Las Vegas Las Vegas Retail Market 2011SAL 1q E2012 1q 2013 1q 2014 1q Las Vegas Retail Market Las Vegas � First Quarter 2015 Las Vegas RetailSource: CoStarMarket COMPS® Las Vegas Retail Market First Quarter 2015 – Las Vegas Sales Activity Las VegasSales ActivityRetail Market Source: CoStar COMPS® Las Source:Vegas CoStar COMPS® Retail Market Las VegasSales Activity Retail Market Las Vegas Retail Market Sales ActivitySales Volume & Price Sales Analysis by Building Size Average of Two Highest Price/SF's and Two Lowest Cap Rates The Optimist Sales TheIndex OptimistAverage ofSales Two HighestBased Index on Price/SF's Retail Building and Two Sales Lowest of 15,000 Cap Rates SF and Larger U.S.Based onPrice/SF Retail Building Comparison Sales From Jan. 2014 - Dec. 2014 U.S. Cap Rate Comparison The Optimist Sales Index Average of Two HighestCap RatePrice/SF's and Two Lowest Cap Rates Price/SF Sales Volume Price/SF BasedBldg on Size Retail #BuildingRBA Sales of 15,000$ Volume SF and LargerPrice/SF Cap Rate Based on Retail Building Sales of 15,000 SF and Larger Cap12.0% Rate Average of Two Highest Price/SF's andPrice/SF Two Lowest Cap Rates $500 12.0%The Optimist Sales Index $1,200 $400$500 Cap Rate Price/SF Las Vegas US Las Vegas US 12.0% $500 $450 Cap Rate Price/SF $450 $380 13.0% 12.0% 10.0% $350$500 < 25,000 SF 170 1,398,991 $364,536,312 $ 260.57 7.56% 10.0% $450 $400 12.0% $1,000 $400 10.0% $450 $330 $400 $350 11.0% 10.0% 8.0% $300$350 8.0% $400 Do $350 Do $280 $300 10.0% 8.0% $800 $300 llars/SF llars/SF $250$350 Do 8.0% 6.0% $300Price/SF 25K-99K $250 9.0% Do $250 llars/SF 32 1,593,398 $230,182,502 $ 144.46 7.59% 6.0% $300 $230SF 6.0% $250 llars/SF $200 8.0% $600 $200 6.0% 4.0% $250 $180

4.0% $200 llars per SF $150 7.0% Cap Rate Percentage $150$200 Cap Rate Percentage 4.0% $150 Do 4.0% $400 $150 $130 $100 6.0% Cap Rate Percentage 2.0% $100$150 100K-249K Cap Rate Percentage

2.0% Cap Rate Percentage 7 923,650 $243,825,000 $ 263.98 6.39% $100 SF $50 5.0% 2.0% $100$50$100 2.0% $80 0.0% Millions of Sales Volume Dollars $50 $0 4.0% 0.0% $200 $0$50 $50 2012 1q 2013 1q 2014 1q $30 3.0% 0.0% 0.0%2012 1q 2013 1q 2014 1q $0$0 2011 1q 2012 1q 2013 1q 2014 1q 2011 1q 2011 3q 2012 1q2012 3q 2013 1q2013 3q 2014 1q2014 3q 2012 1q2012 1q Source: CoStar COMPS® 20132013 1q 1q 20142014 1q 1q Source: CoStar COMPS® $0 $0 >250K SF 1 256,741 $5,302,500 $ 20.65 - Source: CoStar COMPS® Source: CoStar COMPS® Source: CoStarSource: COMPS® CoStar COMPS® 2011 1q 2012 1q 2013 1q 2014 1q

Source: CoStar COMPS® Source: CoStar COMPS® Sales Volume & PriceSales Volume & PriceSales Analysis by BuildingSales Analysis Size by Building Size Based on Retail Building Sales of 15,000 SF and Larger Based on Retail Building Sales From14 Jan. 2014 - Dec. 2014 ©2015 CoStar Group, Inc. BasedSales onSales Retail Volume BuildingVolume Sales & of &Price 15,000 Price SF and Larger BasedSalesSales on Retail Analysis Analysis Building Sales byby From Building Jan. 2014 - Dec. SizeSize 2014 The CoStar Retail Report ©2015 CoStar Group, Inc. The CoStar Retail Report 15 Based on Retail Building Sales of 15,000 SF and Larger Based on Retail Building Sales From Jan. 2014 - Dec. 2014 Based on Retail Building Sales of 15,000 SF and LargerSales Volume BasedU.S. on Price/SF RetailPrice/SF Building Comparison Sales From BldgJan. Size2014 - Dec.# 2014RBA U.S.$ Volume Cap RatePrice/SF CapComparison Rate Sales Volume Price/SF Bldg Size # RBA $ Volume Price/SF Cap Rate $1,200 Bldg Size # $400RBA $ Volume Price/SF Cap Rate $1,200 Sales VolumSales Volume e Price/SFPrice/SF $400 BasedBldg Sizeon Retail# BuildingRBA Sales of 15,000$ Volume SF and LargerPrice/SF Cap Rate Based on Retail Building Sales of 15,000 SF and Larger $1,200$1,200 $400$400 $350Las Vegas < 25,000 SF US170 1,398,991 $364,536,312 $ 260.57 Las 7.56% Vegas US $1,000 $350 < 25,000$380 SF 170 1,398,991 $364,536,312 $ 260.57 7.56% 13.0% $1,000 $350 < 25,000 SF 170 1,398,991 $364,536,312 $ 260.57 7.56% $1,000 $350 < 25,000 SF 170 1,398,991 $364,536,312 $ 260.57 7.56% $1,000 $300 12.0% $300 $330 $300 $800 $300 11.0% $800 $250 $800 $250 $280 Price/SF 25K-99K 10.0% $800 $250Price/SF 25K-99K 32 1,593,398 $230,182,502 $ 144.46 7.59% $250 Price/SF 25K-99K 32 1,593,398 $230,182,502SF $ 144.46 7.59% Price/SF 25K-99KSF 32 1,593,398 $230,182,502 $ 144.46 7.59% 9.0% $600 $230SF $200 $600 $200 32 1,593,398 $230,182,502 $ 144.46 7.59% $600 $200 SF 8.0% $600 $200 $180 $150 $150 llars per SF 7.0% $400 $150 100K-249K $400 $400 100K-249KDo $150 100K-249K$130 7 923,650 $243,825,0006.0% $ 263.98 6.39% $400 7 7 923,650$100923,650 $243,825,000$243,825,000SF $$ 263.98 263.98 6.39%6.39% Cap Rate Percentage $100$100 100K-249KSF SF Millions of Sales Volume Dollars 7 923,650 $243,825,000 $ 263.98 6.39% 5.0% Millions of Sales Volume Dollars Millions of Sales Volume Dollars $200 $100 SF$80 $200 $200 $50 4.0% Millions of Sales Volume Dollars $200 $50 $50 $50 $30 3.0% $0 $0 >250K SF 1 256,741 $5,302,500 $ 20.65 - $0 $0 $0 $0 >250K>250K SF2011 SF 1q 1 1 256,7412012256,741 1q $5,302,5002013$5,302,500 1q $2014$ 20.65 20.65 1q - - 2011 1q 2011 3q 2012 1q2012 3q 2013 1q2013 3q 2014 1q2014 3q 2011 1q 2012 1q 2013 1q 2014 1q $0 2011 1q 2012 1q 2013 1q 2014 1q $0 2011 1q 2012 1q 2013 1q 2014 1q Source:>250K CoStar SF COMPS® 1 256,741 $5,302,500 $ 20.65 - Source: CoStar COMPS® 2011 1q 2012 1q 2013Source: 1q CoStar2014 COMPS® 1q Source: CoStar COMPS® Source: CoStarSource: COMPS® CoStar COMPS® Source:Source: CoStar CoStar COMPS® COMPS® Source: CoStar COMPS® Source: CoStar COMPS®

14 The CoStar Retail Report ©2015 CoStar Group, Inc. ©2015 CoStar Group, Inc. The CoStar Retail Report 15 U.S. U.S.Price/SF Price/SF Comparison ComparisonU.S. Price/SF ComparisonU.S.U.S. Cap Cap Rate Rate Comparison ComparisonU.S. Cap Rate Comparison Based on Retail Building Sales Basedof 15,000 on RetailSF and Building Larger Sales of 15,000Based SF on and Retail Larger Building Sales of 15,000Based onSF andRetail Larger Building Sales of 15,000 SF and Larger BasedU.S. on Price/SFRetail Building SalesComparison of 15,000 SF and Larger BasedU.S. on CapRetail BuildingRate SalesComparison of 15,000 SF and Larger Based on Retail Building SalesLas Vegasof 15,000 SF and LargerUS Las Vegas Based on Retail BuildingUS LasSales Vegas of 15,000 SF and LargerUS Las Vegas US $380 Las Vegas $380 US 13.0% Las Vegas 13.0% US 13.0% $380 Las Vegas US Las Vegas US 12.0% 12.0% LAS VEGAS RETAIL REPORT $380 13.0% 21 $330 $330 12.0% $330 11.0% 12.0% 11.0% 11.0% $330 $280 10.0% $280 11.0% 10.0% $280 10.0% 9.0% $280 $230 10.0% 9.0% $230 9.0% $230 8.0% 9.0% 8.0% $230 $180 8.0% llars per SF $180 7.0%

$180 llars per SF 8.0% 7.0% Do

llars per SF 7.0%6.0%

$130 Do

$180 Cap Rate Percentage

Do 6.0%

llars per SF $130 7.0% $130 6.0%5.0% Cap Rate Percentage Cap Rate Percentage Do $80 6.0% 5.0% $130 5.0% $80 Cap Rate Percentage 4.0% $80 5.0% 4.0% $30 4.0%3.0% $80 2011 1q 2012 1q 2013$30 1q 2014 1q 4.0% 2011 1q 2011 3q 2012 1q2012 3q 2013 3.0%1q2013 3q 2014 1q2014 3q $30 3.0% 2011 1q 2012 1q 2013 1q 2014 1q 2011 1q 2011 3q 2012 1q2012 3q 2013 1q2013 3q 2014 1q2014 3q $30Source:2011 CoStar 1q COMPS®2012 1q 2013 1q 2014 1q Source:3.0% CoStar2011 COMPS® 1q 2011 3q 2012 1q2012 3q 2013 1q2013 3q 2014 1q2014 3q 2011 1q 2012 1q Source:2013 1qCoStar COMPS®2014 1q 2011 1q 2011 3q 2012 1q2012 3qSource:2013 CoStar 1q2013 COMPS® 3q 2014 1q2014 3q Source: CoStar COMPS® Source: CoStar COMPS® Source: CoStar COMPS® Source: CoStar COMPS®

14 The CoStar Retail Report ©2015 CoStar Group, Inc. ©2015 CoStar Group, Inc. The CoStar Retail Report 15 14 The CoStar Retail Report ©2015 CoStar Group, Inc. ©2015 CoStar Group, Inc. The CoStar Retail Report 15 14 The CoStar Retail Report ©2015 CoStar Group, Inc. ©2015 CoStar Group, Inc. The CoStar Retail Report 15 14 The CoStar Retail Report ©2015 CoStar Group, Inc. ©2015 CoStar Group, Inc. The CoStar Retail Report 15 Las Vegas – First Quarter 2015 First Quarter 2015 – Las Vegas

Las Vegas – First Quarter 2015 Las Vegas Retail Market First Quarter 2015 – Las Vegas Las Vegas Retail Market Central North Las Vegas Market Las Vegas Retail Market LasMarket Vegas Highlights – Class Retail “A, B & C” Market Market Highlights – Class “A, B & C” Central North Las Vegas Market Market Highlights – Class “A, B & C” Market Highlights – Class “A, B & C” Deliveries, Absorption & Vacancy Historical Analysis, All Classes

Deliveries, Absorption & Vacancy Historical Analysis, All Classes Delivered SF Absorption SF Vacancy

0.040 9.0% Delivered SF Absorption SF Vacancy 8.0% 0.040 9.0% 0.030 7.0% 8.0% 0.030 0.020 

6.0%   7.0%   

0.020 0.010 5.0%    6.0%      4.0%  0.010 5.0%  0.000     3.0% 4.0% Las Vegas – First Quarter 2015  0.000 (0.010)First Quarter 2015 – Las Vegas  2.0% Las Vegas – First Quarter 2015 First Quarter3.0% 2015 – Las Vegas (0.010) (0.020) 1.0% Las Vegas Retail Market submarket Las Vegas Retail Market2.0% Las Vegas Retail Market (0.020) Las Vegas Retail Market (0.030) 0.0% Central North Las Vegas1.0% Market Market Highlights – Class “A, B & C” Market Highlights – Class “A, B & C” 2012 1q 2012 2q 2012 3q 2012 4q 2013 1q 2013 2q 2013 3q 2013 4q 2014 1q 2014 2q 2014 3q 2014 4q 2015 1q Las Vegas – First Quarter 2015 Central North Las Vegas Market First Quarter 2015 – Las Vegas Market Highlights – Class “A, B & C” (0.030) Market Highlights – Class “A, B & C” 0.0% 2012 1q 2012 2q 2012 3q 2012 4q 2013 1q 2013 2q 2013 3q 2013 4q 2014 1q 2014 2q 2014 3q 2014 4q 2015 1q Source: CoStar Property® Las Vegas Retail Market Deliveries, Absorption & Vacancy HistoricalLas Vegas Analysis, Retail All Classes Market Source: CoStar Property® Deliveries, Absorption & Vacancy Historical Analysis, AllCentral Classes North Las Vegas Market Market Highlights – Class “A, B & C” Delivered SF Absorption SF Market Highlights – Class “A,Vacant B & C”Vacancy Space Quoted Rental Rates Delivered SF Absorption SF Vacancy Vacant Space 0.040 Quoted Rental Rates Historical Analysis, All9.0% Classes Historical Analysis, All Classes 0.040 9.0% Deliveries, Absorption & Vacancy Historical Analysis,8.0% All Classes Historical Analysis, All Classes 0.030 Historical Analysis, All Classes Direct SF Sublet SF $12.00 8.0% 0.27 0.030 Delivered SF Absorption SF 7.0% Vacancy Direct SF Sublet SF $12.00 0.020 7.0%  $11.50 0.26 0.27 0.040 6.0%  9.0%   0.020  

6.0%   $11.50  0.010 5.0%  8.0% $11.00

 0.26 0.25 0.030    0.010 5.0%    4.0% 7.0%  0.000 $11.00   0.25 0.24 

0.020  $10.50

4.0%   0.000 6.0%   3.0%   

 0.23  0.24 (0.010) 0.010$10.50 3.0% 5.0%  Dollars/SF/Year   $10.00  (0.010)  2.0%  

 0.23 2.0% 0.22 4.0% (0.020)  0.000 Dollars/SF/Year  $10.00 1.0%  $9.50

(0.020) 0.22 1.0% 0.21 3.0% (0.030) (0.010) 0.0% $9.50 (0.030) 2012 1q 2012 2q 2012 3q 2012 4q 2013 1q 2013 2q 2013 3q 2013 4q 2014 1q 0.0%2014 2q 2014 3q 2014 4q 2015 1q 2.0% $9.00 0.21 0.20 (0.020) 2012 1q 2012 2q 2012 3q 2012 4q 2013 1q 2013 2q 2013 3q 2013 4q 2014 1q 2014 2q 2014 3q 2014 4q 2015 1q 2014 1q 2014 2q 2014 3q 2014 4q 1.0%2015 1q 2014 1q 2014 3q 2015 1q Source: CoStar Property® $9.00 0.20 (0.030) 0.0% Source: CoStar Property®2014 1q 2014 2q 2014 3q 2014 4q 2015 1q 2014 1q 2014 3q 2015 1q Source: CoStar Property® Source: CoStar Property® 2012 1q 2012 2q 2012 3q 2012 4q 2013 1q 2013 2q 2013 3q 2013 4q 2014 1q 2014 2q 2014 3q 2014 4q 2015 1q Source: CoStar Property® Source: CoStar Property® Vacant Space Source: CoStar Property® Quoted Rental Rates Existing Inventory Vacancy Net Delivered Inventory UC Inventory Quoted Vacant Space Historical Analysis, All Classes Quoted Rental RatesHistorical Analysis, All Classes Period # Bldgs Total RBA Vacant SF Vacancy % Absorption # Bldgs Total RBA # Bldgs Total RBA Rates Historical Analysis,Existing All ClassesInventory Vacancy Net HistoricalDelivered Inventory Analysis, All ClassesUC Inventory Quoted 2015 1q 353 3,105,814 223,991 7.2% 20,941 1 10,486 0 0 $11.26 Period # Bldgs Total RBA Vacant SF Vacancy % Absorption # Bldgs Total RBA # Bldgs Total RBA Rates Direct SF VacantSublet SF Space $12.00 Quoted2014 4q 352Rental 3,095,328 Rates 234,446 7.6% 7,816 0 0 1 10,486 $10.03 2015 1q 353 3,105,814 223,991 7.2% 20,941 $12.001 10,486 0 0 $11.26 Direct SF 0.27Sublet SF Historical Analysis, All Classes Historical2014 3q Analysis,352 All Classes3,095,328 242,262 7.8% 20,724 0 0 1 10,486 $10.98 2014 4q 352 3,095,328 234,446 7.6% 7,816 0 0 1 10,486 $10.03 0.27 $11.50 2014 2q 352 3,095,328 262,986 8.5% 8,381 1 31,342 0 0 $11.27 2014 3q 352 3,095,328 0.26242,262 7.8% 20,724 0 0 1 10,486 $10.98 $11.50Direct SF Sublet SF 2014$12.00 1q 351 3,063,986 240,025 7.8% (2,647) 0 0 1 31,342 $11.71 20140.26 2q 352 3,095,328 262,986 8.5% 8,381 0.27 1 31,342 0 0 $11.27 0.25 $11.00 2013 4q 351 3,063,986 237,378 7.7% (3,039) 0 0 1 31,342 $12.27 2014 1q 351 3,063,986 240,025 7.8% (2,647) 0$11.00 0 1 31,342 $11.71 $11.50 0.25 0.26 2013 3q 351 3,063,986 234,339 7.6% 12,094 1 20,685 0 0 $12.21 2013 4q 351 3,063,986 237,378 7.7% (3,039) 0 0 1 31,342 $12.27  0.24 $10.50 2013 2q 350 3,043,301 225,748 7.4% 4,457 0 0 1 20,685 $12.40

2013 3q 351 3,063,986  234,339 7.6% 12,094 1 20,685 0 0 $12.21 $11.00  0.24 0.25 $10.50 2013 1q 350 3,043,301 230,205 7.6% (16,060) 0 0 1 20,685 $12.46  2013 2q 350 3,043,301  0.23225,748 7.4% 4,457 0 0 1 20,685 $12.40 2012 4q 350 3,043,301 214,145 7.0% (1,938) 0 0 0 0 $12.80 Dollars/SF/Year  $10.00   0.23 0.24 $10.50 2013 1q 350 3,043,301  230,205 7.6% (16,060) 0 0 1 20,685 $12.46  Dollars/SF/Year  0.22 $10.00 2012 3q 350 3,043,301 212,207 7.0% (1,987) 0 0 0 0 $13.00

 2012 4q 350 3,043,301 214,145 7.0% (1,938) 0 0 0 0 $12.80 0.22  0.23 $9.50 2012 2q 350 3,043,301 210,220 6.9% (20,774) 0 0 0 0 $13.23 Dollars/SF/Year 2012 3q 350 3,043,301 212,207 7.0% (1,987)  0 0 0 0 $13.00 $10.00

0.21  $9.50 2012 1q 350 3,043,301 189,446 6.2% 6,298 1 1,221 0 0 $15.29 0.22 20120.21 2q 350 3,043,301 210,220 6.9% (20,774) 0 0 0 0 $13.23 $9.00 2011 4q 349 3,042,080 194,523 6.4% 31,370 0 0 1 1,221 $16.05 2012 1q 350 3,043,301 0.20189,446 6.2% 6,298 1 1,221 0 0 $15.29 $9.50 0.21 $9.00 2014 1q 20142011 3q 3q 349 20153,042,080 1q 225,893 7.4% 1,445 0 0 1 1,221 $13.60 20110.20 4q 349 3,042,080 194,5232014 1q 6.4%2014 2q 31,3702014 3q 20140 4q 20150 1q 1 1,221 $16.05 2014 1q 2014 3q 2015 1q 2011 2q 349 3,042,080 227,338 7.5% (1,313) 0 0 0 0 $13.42 2014 1q 2014 2q 2014 3q 2014 4q 2015 1q $9.00 2011 3q 349 3,042,080 225,893 7.4% 1,445 0.20 0 0 1 1,221 $13.60 Source: CoStar Property® Source: CoStar Property® Source: CoStar Property® 2014 1q 2014 2q 2014 3q 2014 4q 2015 1q 2014 1q 2014 3q 2015 1q Source:2011 CoStar 2q Property®349 3,042,080 227,338 7.5% (1,313) Source:0 CoStar Property®0 0 0 $13.42

Source: CoStar Property® Source: CoStar Property® Source: CoStar Property® Existing Inventory Vacancy Net Delivered Inventory UC Inventory Quoted Existing Inventory Period Vacancy# Bldgs Total RBANet VacantDelivered SF Vacancy Inventory % AbsorptionUC Inventory# Bldgs TotalQuoted RBA # Bldgs Total RBA Rates 16 Period # Bldgs Total RBA 2015Vacant 1q SF The353Vacancy CoStar Retail % 3,105,814 ReportAbsorption 223,991# Bldgs ExistingTotal7.2% RBAInventory #20,941 Bldgs©2015 CoStarTotalVacancy Group,1 RBA Inc. 10,486Rates Net ©20150 DeliveredCoStar Group, Inventory Inc.0 $11.26 UC Inventory Quoted The CoStar Retail Report 17 2015 1q 353 3,105,814 2014223,991 4q 352 7.2% 3,095,328 20,941 Period 234,4461 # Bldgs 7.6%10,486Total RBA 7,8160 Vacant SF 0 Vacancy 0 % $11.260Absorption 1 # Bldgs 10,486Total RBA $10.03# Bldgs Total RBA Rates 16 The CoStar Retail Report ©2015 CoStar Group, Inc. ©2015 CoStar Group, Inc. The CoStar Retail Report2015 1q 353 3,105,814 223,991 7.2% 1 7 20,941 1 10,486 0 0 $11.26 2014 4q 352 3,095,328 2014234,446 3q 352 7.6% 3,095,328 7,816 242,2620 7.8% 0 20,7241 10,4860 $10.030 1 10,486 $10.98 2014 4q 352 3,095,328 234,446 7.6% 7,816 0 0 1 10,486 $10.03 2014 3q 352 3,095,328 2014242,262 2q 352 7.8% 3,095,328 20,724 262,9860 8.5% 0 8,3811 10,4861 31,342$10.98 0 0 $11.27 2014 3q 352 3,095,328 242,262 7.8% 20,724 0 0 1 10,486 $10.98 2014 2q 352 3,095,328 2014262,986 1q 351 8.5% 3,063,986 8,381 240,0251 7.8%31,342 (2,647)0 0 0 $11.270 1 31,342 $11.71 2014 2q 352 3,095,328 262,986 8.5% 8,381 1 31,342 0 0 $11.27 2014 1q 351 3,063,986 2013240,025 4q 351 7.8% 3,063,986 (2,647) 237,3780 7.7%0 22(3,039)1 31,3420 LAS$11.710 VE1 GAS 31,342 R E$12.27TAIL REPORT 2014 1q 351 3,063,986 240,025 7.8% (2,647) 0 0 1 31,342 $11.71 2013 4q 351 3,063,986 2013237,378 3q 351 7.7% 3,063,986 (3,039) 234,3390 7.6% 0 12,0941 31,3421 20,685$12.27 0 0 $12.21 2013 4q 351 3,063,986 237,378 7.7% (3,039) 0 0 1 31,342 $12.27 2013 3q 351 3,063,986 234,339 7.6% 12,094 1 20,685 0 0 $12.21 2013 2q 350 3,043,301 2013225,748 3q 351 7.4%3,063,986 4,457 234,339 0 7.6% 0 12,094 1 1 20,68520,685 $12.40 0 0 $12.21 2013 2q 350 3,043,301 225,748 7.4% 4,457 0 0 1 20,685 $12.40 2013 1q 350 3,043,301 2013230,205 2q 350 7.6% 3,043,301 (16,060) 225,748 0 7.4% 0 4,457 1 0 20,685 0 $12.46 1 20,685 $12.40 2013 1q 350 3,043,301 230,205 7.6% (16,060) 0 0 1 20,685 $12.46 2012 4q 350 3,043,301 2013214,145 1q 350 7.0% 3,043,301 (1,938) 230,205 0 7.6% 0 (16,060) 0 0 0 0 $12.80 1 20,685 $12.46 2012 4q 350 3,043,301 2012214,145 3q 350 7.0% 3,043,301(1,938) 2012 212,207 4q 0 350 7.0% 03,043,301 (1,987) 0 214,145 0 0 7.0% $12.80 0 (1,938) 0 0 0 0 $13.00 0 0 $12.80 2012 3q 350 3,043,301 2012212,207 2q 350 7.0% 3,043,301(1,987) 2012 210,220 3q 0 350 6.9% 03,043,301 (20,774) 0 212,207 0 0 7.0% $13.00 0 (1,987) 0 0 0 0 $13.23 0 0 $13.00 2012 2q 350 3,043,301 2012210,220 1q 350 6.9% 3,043,301(20,774) 2012 189,446 2q 0 350 6.2% 03,043,301 6,298 0 210,220 1 0 6.9% 1,221 $13.23 (20,774) 0 0 0 0 $15.29 0 0 $13.23 2012 1q 350 3,043,301 2011189,446 4q 349 6.2% 3,042,080 6,298 2012 194,523 1q 1 350 6.4%1,221 3,043,301 31,370 0 189,446 0 0 6.2% $15.29 0 6,298 1 1 1,2211,221 $16.05 0 0 $15.29 2011 4q 349 3,042,080 2011194,523 3q 349 6.4% 3,042,080 31,370 2011 225,893 4q 0 349 7.4%3,042,080 0 1,445 1 194,523 0 1,221 6.4% $16.05 0 31,370 1 0 1,221 0 $13.60 1 1,221 $16.05 2011 3q 349 3,042,080 2011225,893 2q 349 7.4% 3,042,080 1,445 2011 227,338 3q 0 349 7.5%3,042,0800 (1,313) 1 225,893 0 1,221 7.4% $13.60 0 1,445 0 0 0 0 $13.42 1 1,221 $13.60 2011 2q 349 3,042,080 227,338 7.5% (1,313) 0 0 0 0 $13.42 2011 2q 349 3,042,080 Source: CoStar227,338 Property® 7.5% (1,313) 0 0 0 0 $13.42 Source: CoStar Property® Source: CoStar Property®

16 The CoStar Retail Report ©2015 CoStar Group, Inc. ©2015 CoStar Group, Inc. The CoStar Retail Report 17 16 The CoStar Retail Report ©2015 CoStar Group, Inc. ©2015 CoStar Group, Inc. The CoStar Retail Report 17 16 The CoStar Retail Report ©2015 CoStar Group, Inc. ©2015 CoStar Group, Inc. The CoStar Retail Report 17 LAS VEGAS OVERVIEW about Las Vegas New construction is happening again on The Strip and throughout the Las Vegas Valley, bringing jobs, as well as renewed interest and investors to the area.

The City of Rock Las Vegas, a permanent, open-air concert venue will be home to the “world’s largest music festival,” Rock in Rio, Festival promoter SFX Entertainment plans to build at the corner of Las Vegas Boulevard and Sahara Avenue to host Rock in Rio beginning in May 2015. The venue will include three themed streetscapes as mimicking those found in Brazil, the United Kingdom and the U.S., and will include a Ferris wheel designed to look like a roulette wheel; a roller coaster and zip line; and five stages.

Resorts World Las Vegas Vegas is breaking ground on May 5, 2015. Upon completion, this $4 billion Asian-themed resort will include 3,000 hotel rooms and will consist of 175,000 square feet of gaming. It’s estimated that there will be 3,500 slot machines and table games. Genting BHD, Southeast Asia’s largest casino operator, bought this 87-acre land in 2013 from Boyd Gaming. Genting is developing this property in multiple phases. Once completed, there will be 4 towers totaling the room count to be 6,583. The first phase is scheduled to open in 2016. Resorts World Las Vegas will help the Las Vegas employment market by employing 11,800 employees. It will also contribute greatly to the Las Vegas economy. Resorts World is projected to generate $155 million in annual tax revenue. (Review Journal)

Caesars Entertainment recently spent $223 million renovating and re-branding the former mid-strip casino, Imperial Palace, to The Linq Hotel and Casino. This hotel sits on the Linq Promenade which is a ±200,000 sq. ft. outdoor retail, dining and entertainment plaza. The main attraction at the Linq Promenade is the 550-foot High Roller observation wheel. The High Roller is the tallest attraction in the world and provides guests a 360 degree view of the Las Vegas valley.

Downtown Summerlin opened its first phase in October 2014, bringing 2,000 full and part-time jobs to the area. This 106-acre site will be a 1.6 million square foot office, entertainment and retail complex in the heart of the master-planned community of Summerlin. Howard Hughes Corp. (HHC) revived the development in 2013 after the previous owner, General Growth Properties Inc., shut it down in 2008.

24 LAS VEGAS OVERVIEW

CURRENT PROJECTS UNDER CONSTRUCTION

MGM Resorts International is currently constructing a 20,000-seat indoor sports arena. MGM Resorts Inter- national is partnering with Los Angeles-based Anschutz Entertainment Group (AEG) on a $375 million indoor sports arena. Upon completion, this 650,000 sq. ft. project will hold 20,000 concert and sports enthusiasts. Scheduled to open in 2016, this arena is located on 16-acres to the west behind the New York-New York Hotel and Casino. Many different types of events will be held here since this arena was built to the NBA and NHL specifications. One of the ways pedestrians from The Strip can arrive by car, tram, or by the new walking path along The Park.

After 60 years of being in business, the Riviera Hotel and Casino will be closing their doors. This will take place on May 4, 2015 at noon. The 26-acre site will be transformed into a $2.3 billion Las Vegas Global Business Dis- trict. This major expansion is part of the Las Vegas Convention Center and will add a variety of new facilities, a trade center and a multimodal transportation hub. This project will add as many as 6,000 permanent jobs. Upon completion, the entire space expansion will be +/-5.7 million sq. ft. It is expected that this entire project will take 5 to 8 years to be completed.

The Park is one of the newest construction sites that MGM Resorts International is building on The Strip. This outdoor district will consist of 8-acres and will feature dining and entertainment. Not only will this connect to both properties, New York-New York and Monte Carlo Hotel and Casino, but it will also serve as a gateway to the 20,000-seat sports arena. This project is estimated to be $100 million and is expected to open this summer 2015.

The Shops at the New Tropicana Las Vegas is one of the major expansions happening on the south side of the Las Vegas Strip. Tropicana Las Vegas started a $100 million expansion in 2014 which will add a 2-story mall consisting of +/-275,000 sq. ft. This expansion is a way to renovate the property. At least 30 retail stores, a food court and restaurants facing the Las Vegas Strip will be positioned here. Renovations are expected to be completed by the end of 2015.

All Net Resort Las Vegas, a $1.3 billion arena and hotel project (former 27-acre, Wet ‘n’ Wild site) is set to include a 22,000 seat retractable roof arena, a 500-room all-suite hotel, and a 300,000 square-foot shopping plaza with stores, restaurants, entertainment venues, and a 16-screen movie theater. It is slated to open in 2017.

Packer Mega-Resort (Former Frontier Site) Australian billionaire James Packer plans to build a mega-resort there. Details have not been announced but they are hoping to start construction in 2015 and open by 2018.

25 LAS VEGAS OVERVIEW EMPLOYMENT In addition to these two-large scale projects, another 16 projects in various stages along the Strip are in the works. Las Vegas Strip MGM plans to build a new state-of-the-art 20,000 seat arena The Las Vegas “Strip” is the heart of the Las Vegas employment, between New York-New York and Monte Carlo. Caesars is reno- including 15 of the world’s 25 largest hotels (by room count) vating and re-branding the former mid-strip Imperial Palace with more than 62,000 rooms. to The Quad Resort and Casino, which will also be a terminus for their project line which includes a giant wheel, much like The Strip employs 98,200 people. Within 1 mile, another the London Eye. Off-strip re-developments include the former 44,200 are employed, and valley-wide another 16,400 totaling Hooters (east of Tropicana Hotel/Casino), the St. Tropez and 158,800 jobs. Clarion Suites to include 800 rooms and a casino.

In March 2013, Genting BHD, southeast Asia’s largest casino Downtown operator paid $350 million for Boyd Gaming’s unfinished 87- Tony Hsieh, CEO of Zappos, has spearheaded what will be a acre Echelon Resort. Re-branded as Resort World’s Las Vegas, $350 million project beginning with the purchase and re- Phase I will open Summer 2015. When completed, the $4 location of the company’s headquarters to the former Las billion resort will include 3,500 rooms, luxury dining and retail, Vegas City Hall. The project will include multiple blocks of and 175,000 square feet of gaming. local, pedestrian-friendly, small business oriented, high-tech, high-density developments. So far, the project bought and In February 2013, Caesar’s Entertainment closed Bill’s Gam- re-opened the Gold Spike and considerable downtown land. bling Hall and Saloon on the northeast corner of Flamingo The project plans for tech startup companies, boutiques, Road and Las Vegas Boulevard and announced a $185 mil- small (non-chain) restaurants and bars, playground, recording lion renovation to the new Gansevoot Las Vegas. The re- studios, charter school, doggy day care, bike share program, habbed property will include 188 luxury rooms and suites, theater, and the world’s largest Airstream trailer park. Hoping a 40,000-square foot casino, as well as a 65,000 square foot to make downtown “personal car free” recently, the Zappos rooftop pool / beach and night club operated by Victor Drai. CEO began Project 100, an ambitious transportation system for downtown, using a combination of 100 electric cars, 100 Sam Nazarian, the biggest night club owner in Los Angeles, shared bikes and 100 bus stops. completed the $800 million SLS Las Vegas, formerly known as the Sahara. Opened in August 2014, the development created approximately 2,500 permanent jobs.

26 LAS VEGAS OVERVIEW TRANSPORTATION CULTURAL FACILITIES

Freeways Symphony Park Las Vegas boasts 78 miles of major freeways including This 61-acre mixed-use facility is at the site of the old Interstate 15 connecting Las Vegas to California to the union pacific rail yard, near downtown Las Vegas. Com- South and Utah to the North. Circling the metro area is pleted structures include: Interstate 215. US 93 / US 95 and Interstate 515 connect • Lou Rovo Brian Institute the valley’s center to the suburbs: Summerlin, Henderson • The Smith Center for Performing Arts and Boulder City. • Charlie Palmer boutique hotel restaurant • World Jewelry Center Airport Las Vegas McCarran International Airport is the 6th busiest The $6 billion project will eventually include 11,000,000 airport in the US. Annually, 57% of all tourism arrives in square feet of office, medical, residential, retail, and 3 hotels Las Vegas through the airport. To support this demand, with gaming. the airport recently added Terminal 3, a 1.9 million square foot state-of-the-art, national and international terminal. World-Class Restaurants In its first year, the terminal handled 10.2 million passen- Las Vegas currently has 7 five-star restaurants and 24-four gers including almost 3 million international passengers. star restaurants. No city in the US has more fine dining. World renowned chefs such as Michael Mina and Emeril Public Transportation Lagasse, call Las Vegas home. The Regional Transportation Commission of Southern Word-Class Entertainment Nevada (RTC) has 42 routes supporting 31 general market Las Vegas is home to 29 exceptional performing art venues routes and carries nearly 58 million passengers. ranging from extravagant world-class performance halls Connecting the Las Vegas “Strip”, the 4-mile Las Vegas to intimate community art centers. Currently there are 17 monorail carries an estimated 20,000 passengers daily to 9 featured shows in production such as O, Mystere, KA, Blue transit hubs. Future plans include an extension to down- Man Group and other Cirque de Soleil shows. Add another town and the McCarran International Airport. The RTC has 9 musical shows, 14 burlesque shows, 8 comedy shows and 42 routes and carries 56 million passengers annually to 31 headliners such as Celine Dion, Rod Stewart, Shania Twain general markets. In addition, the system provides medical and you have the excitement that Las Vegas is known for. transportation, senior citizen buses and event-based Las Finally, adding the Nevada Ballet, the Las Vegas Philharmonic, Vegas Convention shuttles, convenient bus routes, excel- Bellagio Gallery of Fine Arts and you have a diversity of riches lent taxi system and inexpensive limo rides. very few cities can match.

27 LAS VEGAS OVERVIEW PARKS AND RECREATION • Orleans Arena – home to Las Vegas Wranglers hockey team. • Public Parks – the Las Vegas valley has more than 175 • MGM Garden Arena – home to Pac-12 Conference Bas- public parks with a complete array of facilities from ketball tournament and concerts. baseball fields, tennis courts, to private neighborhoods designed with open space park amenities within their RETAIL development boundaries. Total retail inventory in the Las Vegas market amounts to • Mt. Charleston, at 11,916 feet, is the state’s eighth high- 111,200,500 square feet with 7,009 buildings and 1,041 est mountain peek. Only 35 miles northwest of Las Vegas, centers. Clearly Las Vegas runs the full gamut from neigh- the Mt. Charleston Wilderness and National Recreation borhood grocery stores all the way to high end exclusive Area is a year-round getaway for residents and visitors boutiques. including hiking trails and even a modest ski area. • Fashion Show Mall, located on the Las Vegas Strip, • Lake Mead is the largest reservoir in the United States. is owned by General Growth Properties. Boasting 1,888,151 square feet, this is one of the largest en- Located on the Colorado River and formed by the Hoover closed malls in the world with more than 250 stores, Dam, the lake has 550 miles of shoreline, 2,475 miles 8 anchors, an elevated stage, a fashion runway, and of surface and 28 million acre feet of water. Amenities “The Cloud.” include camp grounds, multiple docks, marinas, water ski- ing, fishing and swimming. • The Valley Auto Mall, has the largest concentration of car dealers in the Las Vegas Valley. Situated on Sporting Arenas: 100 acres, the Auto Mall has 18 separate dealerships • Thomas & Mack Arena – on the campus of UNLV and representing 23 different car manufacturers. Most of home to the Running Rebels, PBR and NFR. the state’s largest dealerships by volume are situated in • Sam Boyd Stadium – 40,000 seat football and mixed this mall, including Findlay Honda, Towbin Dodge, Audi use stadium, home to UNLV football, the Las Vegas of Henderson and Henderson Nissan. Bowl, AMA Supercross and The Monster Jam World Finals. • The Grand Canal Shoppes at the Venetian. Designed • Cashman Center – downtown 9,000 seat professional to make you feel like you’re strolling the cobblestone baseball stadium, home to the Las Vegas 51’s baseball streets of Venice, including authentic gondola rides and team. impromptu street performances.

28 LAS VEGAS OVERVIEW • Crystals at City Center Aria – is luxury to the extreme; • Neighborhood Malls and Power Centers include The built to feel like you’re shopping inside a diamond. Fashion Show Mall and its 8 anchor tenants, the Gal- Luxury brands include Tiffany & Co., Prada, Louis Vuit- leria Mall, Boulevard Mall, Meadows Mall, Tivoli Village ton, Gucci, Christian Dior and many more. and under construction Summerlin Center. Total retail inventory in the Las Vegas market amounts to • The Forum Shops at Caesars – is unlike any other 111,200,500 SF with 7,009 buildings and 1,041 centers. shopping experience in the world, boasting 138 spe- Clearly Las Vegas retail is home to neighborhood gro- cialty shops, nestled among cobblestone streets and cery stores all the way to high end exclusive boutiques. old-world atmosphere including Dolce and Gabbana, Michael Kors, Elie Tahari. EDUCATION

• Miracle Mile Shops inside Planet Hollywood offers 1.2 University of Nevada Las Vegas (UNLV) is a public co- miles of retail and entertainment. educational university situated just 1.5 miles east of the Las Vegas Strip. The 337 acre campus has 28,200 students • Via Bellagio provides elegant jewelry, fine art, designer including 6,400 post graduates. The school includes 95 collections such as Dior, Chanel, Armani plus a Ferrari accredited undergraduate majors, a medical school, the Museum and dealership. UNLV School of Dental Medicine, The William Boyd School of Law and the nationally acclaimed William F. Harrah College • Wynn Las Vegas is home to 75,000 square feet of ex- of Hotel Administration. Other higher education institution clusive boutiques, upscale retailers such as de la Renta, include the College of Southern Nevada, The University Rolex, and Manolo Blahnik. of Southern Nevada, DeVry University, Everest College, National University, Nevada State College, NOVA, Regis, • The Esplenade of Encore features Chanel and Hermes, Touro University and University of Phoenix. In addition Las Wynn and Co. Jewelry, and Rock & Republic. Vegas is home to over 18 technical and vocational schools ranging from technology to art and gaming too. • The Shoppes at Palazzo is a luxury retail center fea- turing Cole Haan, Thomas Pink, Chloe and Van Clef & Arpels.

29 LAS VEGAS OVERVIEW demographics Executive Summary

Ex4741ec E Chutivarlesteo nSummary Blvd 4741 E Charleston Blvd, Las Vegas, Nevada, 89104 Latitude: 36.15891 WITHIN A 5 MILE RADIUS ROF4741ings: S UBJE 1, Ch 3Ea,Cr 5lTest m PoiRlneOP BralvddiiERTY Longitude: -115.07128 4741 E Charleston Blvd, Las Vegas, Nevada, 89104 Latitude: 36.15891 1 mile 3 miles 5 miles Rings: 1, 3, 5 mile radii Longitude: -115.07128 Population 1 mile 3 miles 5 miles 2000 Population 28,346 202,999 426,071 Population 2010 Population 30,648 225,869 462,412 28,346 202,999 426,071 201040 Population 31,503 231,200 472,069 30,648 225,869 462,412 20190 Population 33,131 241,492 492,289 31,503 231,200 472,069 200104-2 Po0p1u0l aAtnionnual Rate 0.78% 1.07% 0.82% 33,131 241,492 492,289 20109-2 Po0p1u4l aAtnionnual Rate 0.65% 0.55% 0.49% 0.78% 1.07% 0.82% 201040-20190 Annual Rate 1.01% 0.87% 0.84% 20140 -2M0a1le4 P Aonpnulatualio Ran te 50.4%0.65% 50.7%0.55% 51.6%0.49% 2014 -2Fe0m19a leA nPnopuaull atiRaonte 49.6%1.01% 49.3%0.87% 48.4%0.84% 2014 Meadleia Pno Apulatge ion 50.4%29.9 50.7%32.4 51.6%33.4 2014 Female Population 49.6% 49.3% 48.4% In 2th0e1 4id Menetdifiaiedn Aagreea, the current year population is 472,069. In 2010, the Census 29.9count in the area was 462,4132.42. The rate of change sin33.4ce 2010 was 0.49% annually. The five-year projection for the population in the area is 492,289 representing a change of 0.84% annually from 2In0 1th4e t oid 2e0n1ti9fi.ed C uarrrea,entl thy,e t hcuer preopunt ylaeartion po isp 5u1la.t6io%n misal 4e7 2,and069 48.4%. In 201 female.0, the Census count in the area was 462,412. The rate of change since 2010 was 0.49% annually. The five-year projection for the population in the area is 492,289 representing a change of 0.84% annually from Median Age 2014 to 2019. Currently, the population is 51.6% male and 48.4% female. The median age in this area is 29.9, compared to U.S. median age of 37.7. Median Age Race and Ethnicity Th2e0 m14e dWiahni tagee Al onin ethis area is 29.9, compared to U.S. median age of 37.7. 47.6% 48.6% 48.5% Race and Ethnicity 2014 Black Alone 8.2% 9.8% 11.2% 2014 White Alone 47.6% 48.6% 48.5% 2014 American Indian/Alaska Native Alone 0.8% 0.9% 0.9% 2014 ABslaiacnk Alonone 4.8.5%2% 5.9.6%8% 11.2%5.7% 2014 PacAmeifricican Isla Innderdian A/loAlneaska Native Alone 0.6%8% 0.6%9% 0.6%9% 2014 OAsthiaenr ARlaoncee 33.5%4.5% 29.6%5.6% 28.0%5.7% 2014 TPacwoi foicr IMsloraneder Ra cAelosne 4.0.9%6% 5.0.0%6% 5.0.0%6% 2014 HOitshpearnic Ra cOerigin (Any Race) 65.2%33.5% 56.5%29.6% 53.6%28.0% 2014 Two or More Races 4.9% 5.0% 5.0% Per2s0on14s Hofis Hpaisnicpanic Or iogirnigi (nA nreyp Rarescen)t 53.6% of the population in the identified area65.2% compared to 17.5% of the56.5% U.S. population. Persons53.6% of Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from dPieffresreonnts oracef His/epathnicnic o grigirounp res,p isre 8s7en.3t in53.6% the identi of thfeied populati area, oncompa in thered identif to 62.6ied fo arrea the co U.mpS.ared as a to who 17.le.5% of the U.S. population. Persons of Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from Households different race/ethnic groups, is 87.3 in the identified area, compared to 62.6 for the U.S. as a whole. 2000 Households 8,856 69,540 150,214 Households 2010 Households 8,848 72,571 154,319 201040 THooutasl eHhouoldsseholds 8,989856 73,59169,540 156,422150,214 20190 THooutasl eHhouoldsseholds 9,8,402848 7672,56671 162154,8,33719 200104-2 To0t1a0l HAounnsuaehl olRadtse 31 -0.01%8,989 73,5910.DEMOGRAPHICS43% 156,4220.27% 20109-2 To0t1a4l HAounnsuaehl olRadtse 0.9,37%402 760.33%,566 1620.32%,837 201040-20190 Annual Rate -0.01%0.90% 0.80%43% 0.81%27% 20140 -2 A0v1era4 Agenn Houaul sRaehteold Size 0.37%3.50 0.33%3.12 0.32%2.96 2014-2019 Annual Rate 0.90% 0.80% 0.81% The2 0ho14u s Aevheraold gecou Hontu inse thholisd aSrizeea has changed from 154,319 in 2010 to 156,422 in t3.he50 current year, a change 3.of12 0.32% annually. The fiv2.e-96 year projection of households is 162,837, a change of 0.81% annually from the current year total. Average household size is currently 2.96, cTohme phoaruesde htoold 2. 9cou4 int tinhe t hyeisar a r2e0a1 ha0. sT hchean numbged efrrom of f1amili54,31es9 in in t h2e010 cur trento 156,42 year 2is in 100 the,9 cur35 rentin th year,e spec aified chan argeea. of 0.32% annually. The five- year projection of households is 162,837, a change of 0.81% annually from the current year total. Average household size is currently 2.96, compared to 2.94 in the year 2010. The number of families in the current year is 100,935 in the specified area.

Data Note: Income is expressed in current dollars Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2014 and 2019. Esri converted Census 2000 data into 2010 geography. Data Note: Income is expressed in current dollars Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2014 and 2019. Esri converted Census 2000 data into 2010 geography. April 23, 2015

©2014 Esri Page 1 of 2 Executive SummaryExecutive Summary Executive Summary 4741 E Charleston Blvd4741 E Charleston Blvd 4741 E Charleston Blv47414d,74 La1E EsCh CVeaharlergas,lests otonNnev B lada,Blvvdd, 89104 Las Vegas, Nevada, 89104 Latitude: 36.15891 Latitude: 36.15891 Rings: 1, 3, 5 mile r4a7Rdii4in1gs: E C 1,harle 3, 5s tonmil eBlv rad,dii Las Vegas, Nevada, 89104 Longitude: -115.07128LongiLatitude:tude: -11 36.5.1589107128 Rings: 1, 3, 5 mile radii 1 mile 1 mil3 milese 3 miles5 milesLongitude: -115.5 07128miles Median Household InMceodmiane Household Income 1 mile 3 miles 5 miles 2014 Median HousehoMedld2i0 anInco14 H Mmoeueds ieanh oHloud Isehoncoldm eIncome $41,882 $41,8$3882,634 $38,6$3634,869 $36,869 2019 Median Househo2ld0210 Inco41 9M Memdeeida ina nH ouHousehoseholdld Inco IncomDeme e mographic a$47nd,8 54Income $41P$47r,8ofile,882$4354,924 $38$43,6,934$4124,646 $36$41,8,66946 2014-2019 Annual Ra2t0e21 091 4M-2ed0i1a9n AHnounuasehol Raldt eInco me 2.70% $472.,870%542.60% $432.,960%242.47% $412.,647%46 Average Household IAn2v0ceo1r4ma-2gee0 1H9o Aunsneuahol ldRa Itne come4741 E Charleston Blvd 2.70% 2.60% 2.47% 2014 Average HousAevheol2rda0 g1I4en c AHomeveourasgeeh oHldou Isnehcoolmd eIn4741come E Charleston Blvd, L$50as Vegas,,139 Nevada, 8910$50,14$4939,884 $49,8$4784,813 Latitude: $4736.15891,813 2019 Average Househ2ol021d04 1I 9nA cveAomeverargaeg eH ouHousesheolhold dIn IcnomeRcomeing: 1 mile radius $57,863 $50$57,1,839$5763,590 $49$57,8,584$5590,398Longitude: -11$47$555.,807128,31398 2014-2019 Annual Ra2t0e21 091 4A-2ve0r1a9g eA nHnouuasle hRaoltde Income 2.91% $572.,891%632.91% $572.,591%902.99% $552.,399%98 Per Capita Income SP2ue0mr1 Cm4-2aapr0ity1a9 IAnncnouamel Rate Census 2010 2.91% 2012.4 91% 2.99%2019 2014 Per Capita IncoPemrP 2eCo0ap1up4lita Petaio rIn nCcapomeita Income $14,318 30,648 $14,3$1618,029 31,503$16,0$1629,276 $1633,131,276 2019 Per Capita Incom2H02e1o04u1 s9Pee Pehrol Crd apCsapitait aInco Incomme e $16,442 8,848 $14$16,3,418$1842,435 8,989$16$18,0,429$1835,844 $16$18,29,,87640244 2014-2019 Annual Ra2tF0e2a1 0m91 4iPelies-2r0 C1ap9 Aitnan Iuancol Ramete 2.81% 6,806 $162.,481%422.84% 6,904$182.,484%352.97% $182.,87,97%44215 Households by IncomH2eoA0uv1ser4e-2ahg0oe1l d9Hos A ubnsyne uaIhnol lcdRao Smtizeee 3.46 2.81% 3.502.84% 2.97%3.52 Current median housHeCohuolOrsdrwee nincohneto rlm dOmesccued b iisaypn ied$I n3h6c ouHo,8ousims69eeh olinngd t Unhincoe itsarea,me is compar $36,869ed into t$5he2, area,076 fcomparor all U.Sed4,. toh908ousehol $52,076ds f.or M ealldian U.S h.ousehol household incomeds4,.710 Median is household income is 4,888 projected to be $41,6C46upr rRoinejenect ntftiv emerd eyO dtecoiars,acu bne p ih$ceouompa4d 1Hos,e6h46urolseing din incot ofUiv $5nemits y9,ee 599ars,is $ 3 fcor6ompa,8 all69 U.S rined t. h thoeousehol $5area,9,599 compards for alled U.S to3, 940.$5 househol2,076 fords all U.S. households4,. M278edian household income is 4,514 projMectedeidan t oA gbe $41,646 in five years, compared to $59,599 for all U.S. 29.6households 29.9 30.7 Current average househoCurldre intc omeaver aisg e$ 4h7o,useho813 inld t hinisc omearea, is c $ompa47,8red13 in to t h$72is ar,8e09a, focompar all Ured.S. thoo $72use,8hold09s fo. rAverag all U.S.e hohousehold sinc. Averagome is e household income is Trends: 2014 - 2019 Annual Rate Area State National projected to be $55,3C98upr roinejnect ftiv aevd ye teroaars, gbee h$coompa5useho5,398reld din it nofivc ome$8e y3,e 937ars,is $ 4 fc7orompa,8 all13 U.S rined t. h thoisousehol $8are3,a,937 cdsompa for allred U.S to .$72 househol,809 fodsr all U.S. households. Average household income is projPectopeudla toio nbe $55,398 in five years, compared to $83,937 for all U.S1..01% households 1.14% 0.73% Current per capita incomeCuHr oriesun s$te 16,27hpolerd csa6p inita th inec omearea ,i sc ompa$16,27red6 into ththee areaU.S., percompa capiredta itnoc omethe U. 0.ofS.90% $ 27,87per capi1. ta The inc perome capi of $ta27,87 income1.1. 12% Theis proj perec capited tato income is projected0.75% to be $18,844 in five yeCars,ubrerF ecompa$anm1t8 iplies,8e4rr 4edc ainp to iftai v$ ei32,16n yceomears,8 ifscompaor $ 16,27all U.S.red6 toinho th$u32,16see hareaold8s, f orcompa all U.S.red thoo uthese hU.old0.S.s89% per capita income of $27,871. 1. The09% per capita income is projected0. 66%to

be $O1w8n,8e4r 4H iHns five years, compared to $32,168 for all U.S. household0.s 74% 1.14% 0.69% Housing H ousing Median Household Income 2.70% 2.72% 2.74% 2000 Total HousingH Uonu2itss0in0g0 Total Housing Units 9,371 9,37174,899 74,899163,854 163,854 2014 2019 2000 Owner Occupi2e0d0 02Ho 0T0uo0sta ingOl wH Uninouerst isOngc cupiUnitsed Housing Units 5,621 9,5,37162140,669 74,89940,66976,403 163,85476,403 Households by Income Number Percent Number Percent 2000 Renter Occupied2 02Ho0000u 0sO ingRwen neUtren Orits cOcupiccupiede dHo Housuingsing Uni Untsits 3,235 5,3,62123528,871 4028,871,66973,810 76,40373,810 <$15,000 1,074 11.9% 1,053 11.2% 2000 Vacant Housing2 U02n00its00 0R eVnatcearn Ot ccupiHouseingd HoUnuitssing Units 515 3,2355155,359 28,8715,35913,641 73,8113,6410 $15,000 - $24,999 1,326 14.8% 1,001 10.6% 2010 Total Housing Un2its2001000 T Voatacla nHtou Hsouinsging Un Uitsnits 9,836 9,51583682,896 5,82,896359180,943 13,641180,943 $25,000 - $34,999 1,081 12.0% 914 9.7% 2010 Owner Occupi2e0d1 02Ho 0T1uo0sta ingOl wH Uninouerst isOngc cupiUnitsed Housing Units 4,908 9,4,83690838,732 82,89638,73273,270 180,94373,270 $35,000 - $49,999 1,830 20.4% 1,936 20.6% 2010 Renter Occupied2 02Ho1001u 0sO ingRwen neUtren Orits cOcupiccupiede dHo Housuingsing Uni Untsits 3,940 4,3,90894033,839 3833,839,73281,049 73,27081,049 $50,000 - $74,999 2,101 23.4% 2,231 23.7% 2010 Vacant Housing2 U02n10its01 0R eVnatcearn Ot ccupiHouseingd HoUnuitssing Units 988 3,94098810,325 33,83910,32526,624 81,0426,6249 $75,000 - $99,999 881 9.8% 1,254 13.3% 2014 Total Housing Un2its2001140 T Voatacla nHtou Hsouinsging Un Uitsnits 10,161 10,16198885,423 1085,423,325185,973 26,624185,973 $100,000 - $149,999 490 5.5% 672 7.1% 2014 Owner Occupi2e0d1 42Ho 0T1uo4sta ingOl wH Uninouerst isOngc cupiUnitsed Housing Units 4,710 10,1614,71037,036 85,42337,03669,800 18569,800,973 $150,000 - $199,999 119 1.3% 212 2.3% 2014 Renter Occupied2 02Ho1041u 4sO ingRwen neUtren Orits cOcupiccupiede dHo Housuingsing Uni Untsits 4,278 4,4,71027836,555 3736,555,03686,622 69,80086,622 $200,000+ 86 1.0% 130 1.4% 2014 Vacant Housing2 U02n10its41 4R eVnatcearn Ot ccupiHouseingd HoUnuitssing Units 1,172 4,1,27817211,832 36,55511,83229,551 86,6229,5512 2019 Total Housing Un2its2001194 T Voatacla nHtou Hsouinsging Un Uitsnits 10,665 1,10,66517289,406 1189,406,832194,322 29,551194,322 Median Household Income $41,882 $47,854 2019 Owner Occupi2e0d1 92Ho 0T1uo9sta ingOl wH Uninouerst isOngc cupiUnitsed Housing Units 4,888 10,6654,88838,245 89,40638,24572,165 19472,165,322 Average Household Income $50,139 $57,863 2019 Renter Occupied2 02Ho1091u 9sO ingRwen neUtren Orits cOcupiccupiede dHo Housuingsing Uni Untsits 4,514 4,4,88851438,321 3838,321,24590,672 72,16590,672 Per Capita Income $14,318 $16,442 2019 Vacant Housing2 U02n10its91 9R eVnatcearn Ot ccupiHouseingd HoUnuitssing Units 1,263 4,1,51426312,840 38,32112,84031,485 90,6731,4852 Census 2010 2014 2019 2019 Vacant Housing Units 1,263 12,840 31,485 Currently, 37.5% of thPCeo u18prrue5ln,ati9tl7yo3, n 3ho 7b.usiny5 %Age go fu tnhitse 18in 5the,97 area3 ho usinare gowner units oinc ctuhepiedN areaum; ber46.6% are owner, renterPe rcentoc coccupupiedied; 46.6%; andNum ,15.9% renterber aroccupe vacPiedeanrcent;t. and Currently, 15.9% ar eNumber vacant. Currently,Percent in the U.S., 56.0% ofC tuihnre r0t e hho-ne t4 ulUys,.ing S3.7, .u55n6%its.0 o% ifn t ohtfhe et h18 areae 5ho,9 u7ares3ing ho owner uusinnitsg occup iunn titshe ied; iarean the 32 are area.4%2, owner795 aarere rentowner occuper ied;occupio9.cc1%u 32piede.4d;;% a46.6% nadre 11.6% rent, rentere2,r are809occupi occup vacaed;nt.ied a n; 8.In dand 9% 11.6%201 15.9%0, theare arre vacae vacnt.2,an 996 t.In 201Currently,0, the9.re 0% were 180,943 housing units in the area - 40.5% owner occupied, 44.8% renter occupied, and 14.7% vacant. The annual rate of change in were 180,943 housingin utnh5itse - U 9i.nS .t,h e5 6area.0% -o f4 0.th5%e ho ouwnersing uoncitscu piedin th, e44.8% area are ren ownerter2,757 occ occupupied,ied; an9.d 0%32 14.7%.4% a revaca rentnt.e r T 2,occupih690e annualed; a ratend8. 11.6% 5%of chan arege vacain nt.2, In765 2010, there8. 3% housing units since 20w1he0roe usi s1 i1.8ng023%, u9n4i3t. s hMedi souinscianen g2 0hu1omen0its is i van1. tlue23%he inarea. Medithe - area4an0. 5%h omeis $11owner va7,lue279 o cinc,u comthepied areapared, 44.8% is t o$11 are median7,nter279 o,c comc huompiedparede ,value an dto 14.7% ofa median$190,791 vaca hnom t.for e T valuethehe annualU .S.of $190,791 rate of c forhan thege inU .S. 10 - 14 2,599 8.5% 2,593 8.2% 2,625 7.9% In five years, medianh voIalnus ufiiengv eis u yproneaitrsjse s,c itedmncediane to20 c1 hv0anal isug e1.e is23%by pro 5.4.j eMedi8%cted annuallyan to h comehan gtovae $15lueby 5in3,.4 147the8% . area annually is32 $11 to7, $152793,, 147com.pared to a median home valueDEMOGRAPHICS of $190,791 for the U.S. In fi1v5e -y e1a9rs, median value is projected to change by 5.42,8%709 annually to8. 8%$153,147. 2,453 7.8% 2,497 7.5% 20 - 24 2,376 7.8% 2,735 8.7% 2,456 7.4% 25 - 34 4,461 14.6% 4,775 15.2% 5,393 16.3% 35 - 44 4,495 14.7% 4,215 13.4% 4,298 13.0% 45 - 54 3,713 12.1% 3,861 12.3% 3,808 11.5% 55 - 64 2,612 8.5% 2,781 8.8% 3,086 9.3% 65 - 74 1,391 4.5% 1,744 5.5% 2,098 6.3% 75 - 84 585 1.9% 667 2.1% 905 2.7% 85+ 152 0.5% 181 0.6% 207 0.6% Census 2010 2014 2019 Race and Ethnicity Number Percent Number Percent Number Percent White Alone 15,124 49.3% 14,985 47.6% 14,905 45.0% Black Alone 2,509 8.2% 2,577 8.2% 2,681 8.1% Data Note: Income is expDreasseta dN ointe c:u rIrnentcom doe llisars expressed in current dollars Source: U.S. Census BurDeaSataou,u NrCcensoete:A Uus:m .IS. n2010eco rCimceane nsSu ui sIs mmn eBurdxpiaryareenasse u,AFillone dCe ensi1n. cEususrr r2010ient for ecdo Suasllarsmmts forary 2 0F1il4e and1. E sr2019i for.ec Eassri244t sconve for 2rted014 Censusand0.8% 2019 200. E0sri data conve intrtedo 201 Census2490 geography. 2000 data0.8% into 2010 geography.257 0.8% Source: UA.S.si aCne nAsluosn Bure eau, Census 2010 Summary File 1. Esri forecas1,t366s for 2014 and4. 20195%. Esri converted 1,Census406 2000 data4. 5%into 2010 geography.1,521 4.6% April 23, 2015 April 23, 2015 Pacific Islander Alone 171 0.6% 175 0.6% 183 0.6% April 23, 2015 Some Other Race Alone 9,742 31.8% 10,564 33.5% 11,936 36.0% ©2014 Esri Page 2 of 2 ©2014 Esri Two or More Races 1,491 4.9% 1,548 4.9% Page 2 of 21,647 5.0% ©2014 Esri Page 2 of 2

Hispanic Origin (Any Race) 19,137 62.4% 20,532 65.2% 22,625 68.3% Data Note: Income is expressed in current dollars.

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2014 and 2019.

April 23, 2015

©2014 Esri Page 1 of 6 about the team BENJAMIN P. MILLIS Professional Background Managing Director Ben Millis joined Newmark Grubb Knight Frank in February of 2010. His primary responsibilities are to represent tenants and landlords in the sale and leasing of industrial properties. Ben has completed over 100 transactions valued at over $150 million. His proven ability to sell investment property resulted in an appointment to the Private Capital Markets National Invest- ment Team of Newmark Grubb Knight Frank. Prior to joining Newmark Grubb Knight Frank, Ben was Vice President of industrial sales and leasing at NAI Global. He was also responsible for investment services, where Ben promoted commercial properties in the regional, national and international markets. Ben has received many accolades and distinguished recognition awards for exemplary customer service and high sales volume. He has been a successful real estate investor for fourteen years and a sales professional for twelve years.

Newmark Grubb Knight Frank In addition to a successful career in real estate, Ben spent four years in the United States Ma- 3930 Howard Hughes Parkway Suite 180 rine Corps. He was meritoriously promoted to the rank of Sergeant in his first two years and Las Vegas, NV 89169 went on to earn four Certificates of Commendation and two Marine Corps Achievement Medals. [email protected] A few of Ben’s notable clients include: U.S. Bank, Bally Technologies, Pella Windows, US Army T 702.733.7500 x 270 Reserve, Social Security Administration, C-III Capital Partners, Quest Diagnostics, BG Capital, D 702 405.1726 Mother’s Cookies, Walter’s Golf, Trust for Public Lands, Brown Hand Center, Donor Services F 702.862.8242 Group, American National Property & Casualty, and Advantage Healthcare.

Years of Experience Professional Affiliations and Accomplishments 12 Years • NAIOP – Active Member • SIOR – Candidate Member Areas of Specialization • Industrial

• Investments Education • Bachelor of Business Administration – Dual Degree – Real Estate & Urban Land Economics • Office and Management & Human Resources – University of Wisconsin – Madison – Honor Gradu- • Land ate

34 Resumes CHRIS BEETS Professional Background Associate Director Chris Beets joined Newmark Grubb Knight Frank in June 2013 as an Associate Director of the Industrial Properties Group. His primary responsibilities are to represent owners with the acquisition, lease up, and disposition of industrial real estate on the local and national level. Chris is a Las Vegas native who has been licensed since 2005 which provides him with an intimate knowledge of the Las Vegas industrial market. Beets previously worked for Gatski Com- mercial as an Associate with the responsibility of representing industrial landlords and tenants. Prior to that he worked in the Las Vegas office of Marcus & Millichap as an Associate for the National Office and Industrial Properties Group where he sold investment grade real estate and represented investment groups with the underwriting and acquisition of nonperforming commercial real estate debt.

In addition to a successful career as a real estate professional, Chris has worked as a paralegal Newmark Grubb Knight Frank for Sullivan Law Group and Mushkin and Hafer, both real estate related law firms. As a parale- 3930 Howard Hughes Parkway Suite 180 gal Chris learned to navigate through the Due Diligence and Escrow Period of commercial real Las Vegas, NV 89169 estate transactions. [email protected] A few of Chris’s notable clients include: Koll Company, MCA Realty, Bendetti Company, Clark T 702.733.7500 x 381 County Credit Union, Beal Bank, Spear Development, and Robertson Bright Industries. D 702.289.4617 . F 702.862.8242 Education Years of Experience • AA in Paralegal Studies from Las Vegas College 9 Years • Attended UNLV from 2002-2004

Areas of Specialization • Industrial • Single Tenant Net Lease

35 Resumes DAVID A. LIPP, CCIM Professional Background Director David has been involved in and completed over $90 million in sale and lease transactions since joining the firm in July 2006. Primarily focusing on retail property, David specializes in tenant representation as well as the leasing and sale of shopping centers. Currently, David is representing or has completed transactions with the following tenants: Harbor Freight Tools, Rain- bow Apparel USA, Children’s Learning Adventure, TitleMax, Church’s Chicken, Jack in the Box, Inc., In-n-Out Burger and Cricket Wireless. He represents approximately 15 lease and sale commercial property listings of over 600,000 square feet. Landlords and clients include Wein- garten Realty, Alostar Bank, AEGON Realty Advisors, Sarofim Realty Advisors, Budget Rent a Car, CMLG Corporation, and Yamin Family Trust, to name a few.

Prior to joining the firm, David worked for a boutique mortgage company in Las Vegas where he was responsible for sales and market development. Before relocating to Las Vegas, he ac- Newmark Grubb Knight Frank quired financial services experience as an Intern at Young Stovall and Company, a stock bro- 3930 Howard Hughes Parkway Suite 180 kerage firm located in Miami, Florida. David also worked for Approved Mortgage and Realty in Las Vegas, NV 89169 Tallahassee, Florida while he was a student at Florida State University. [email protected] D 305.321.8824 Professional Affiliations and Accomplishments F 702.862.8242 • International Council of Shopping Centers (ICSC) • Certified Commercial Investment Member, Southern Nevada (CCIM) Years of Experience • Sponsorship Chairman - Board of Directors of CCIM, Southern Nevada 7 Years • Commercial Marketing Group (CMG)

Areas of Specialization • Retail Sales Education • Retail Leasing • Bachelor of Science, Real Estate and Finance – Florida State University • Spanish – University of Buenos Aires, Buenos Aires, Argentina

36 Resumes DIANE M. MCKINNEY Professional Background Marketing Coordinator Diane joined Newmark Grubb Knight Frank in June 2010 as a marketing coordinator. She is responsible for preparing, producing and distributing all marketing materials.

Diane has over fifteen years experience in commercial real estate. Prior to joining Newmark Grubb Knight Frank, she worked for Voit Real Estate Services as a senior administrative assis- tant for the Higgins Team where she managed all transactions in escrow, tracked all deals from letter of intent stage through purchase agreement or lease and managed the marketing services including creation and design of brochures and electronic marketing presentations. Diane was also responsible for the design, creation and maintenance of the team website.

Professional Accomplishments Newmark Grubb Knight Frank 3930 Howard Hughes Parkway • Nevada Real Estate Salesperson License Suite 180 Las Vegas, NV 89169 [email protected] Education T 702.733.7500 x 235 D 702 405.1724 • Mission College, Santa Clara, CA - general business coursework F 702.862.8242

Years of Experience 15 Years

Areas of Specialization • Marketing

37 Resumes NOTABLE TRANSACTIONS

Represented the seller of an unfinished 480,000 sq. ft. Represented the seller of a 43,000 sq. ft. Mixed use development called the Manhattan West. Warehouse located at 151 Gallagher Crest. Sales price $20,000,000 Sales price $3,300,000

Represented the seller of a 27,000 sq. ft. Represented the buyer of a 63,000 sq. ft. Multi-tenant medical office located at 3100 Charleston. Multi-tenant industrial building located at 1010 Stephanie. Sales price $3,300,000 Sales price $2,800,000

Represented the buyer of a 59,000 sq. ft. Represented the seller of a 38,000 sq. ft. Mulit-tenant industrial building located at 1000 Stephanie. Multi-tenant office building located at 1700 Desert Inn. Sales price $2,675,000 Sales price $1,300,000

Represented the landlord on the lease of a 67,000 sq. ft. Represented the seller of a 52,000 sq. ft. Medical office Industrial building located at 3101 Lamb. building located at 3920-3950 Eastern Avenue. Five year term at $0.29 per foot NNN ($1,165,800) Sales price $3,230,000

Represented the seller of 18.94 Acres of land Represented the seller of 56,452 sq. ft. industrial building located at Cheyenne Avenue and N. 5th Street. located at 3200 & 3280 W. Sunset Road. Sales price $3,258,855 Sales price $3,980,000

The following disclaimer is required by Nevada Revised Statutes 645 and Nevada Administrative Code 645:

Notwithstanding any preprinted verbiage to the contrary, this opinion is not an appraisal of the market value of the property. It is intended only for the benefit of the requesting party for the purpose of assisting the requesting party in deciding the listing, offering, sale, exchange, option, lease or acquisition price of the real property and not for any other purpose, including, but not limited to, obtaining financing. If an appraisal is desired, the services of a licensed or certified appraiser must be obtained.

DISCLAIMER E. CHARLESTON BLVD.

SIDEWALK SITE PLAN

ENTRY SP.1 TITLEMAX 13669 TM LAS VEGAS CHARLESTON NV 33 4741 E CHARLESTON BLVD LAS VEGAS, NV 89104 STORE # 13669

DATE NAME DUMPSTER ENCLOSURE SHED 15 BULL STREET SAVANNAH, GA 912-629-5151 TMX Finance SCALE: 3/32"=1'-0" DWG. TITLE:

N 1 SITE PLAN

4 2 0 4 8 SP.1 SHEET: SP.1 DEMOLITION PLAN NOTES: 1. 7. 6. 5. 3. 8. 2. 4. REMOVE/DISCARD EXISTING EQUIPMENT IN PROPOSED SALES AREA OR AS REMOVE/DISCARD EXISTING MILLWORK/FURNITURE IN PROPOSED SALES EXISTING CEILING HEIGHT OF 9'-3" AFF TO REMAIN. PROPOSED EXTERIOR ELEVATIONS. PREP TO RECEIVE NEW STOREFRONT ASSEMBLIES PER TMX SPECS. REF DEMOLISH EXISTING EXTERIOR WINDOW/DOOR ASSEMBLY(IES) AS SHOWN. FLOORING PER FINISH SCHEDULE. DEMOLISH EXISTING FLOORING WALL BASE. PREP TO RECEIVE NEW PREP TO RECEIVE NEW FLOORING. DEMOLISH EXISTING INTERIOR WALLS PER PLAN. CONSTRUCTION. VERIFY CONDITION OF ALL STRUCTURAL ELEMENTS PRIOR TO VERIFY/DEMOLISH WATER DAMAGES FLOOR AND FRAMING; REPAIR AREA. SHOWN; DISCONNECT/CAP ALL ASSOCIATED MEP CONNECTIONS.

LEFT - ADJACENT PROPERTY 00 3070 HM 7 3 22'-5" WH 22'-4" 3068 HC 6 7 2'-0" 2 REAR- PARKING FRONT - E. CHARELSTON BLVD. 2'-0" 4'-0" 3068 HC 5 ENTRY 25'-1" 72'-7" 6'-0" 7 3070 HM 1 3068 HM 6 8 5 4 1 3 3068 HC 4'-0" D.1 4 1 DEMOLITION PLAN: 4 3068 HC 2 9

0 17'-7" 24'-5" 3068 HC 7 8 22'-4" 4 8 23'-7" WALL PLAN NOTES: LEGEND: EXT. 1. 2. LOCATED ON SITE SURVEY. EXISTING DOOR INFORMATION EXISTING CONDITIONS/ITEMS. LIGHTER LINE WEIGHTS INDICATE DEMO WALL DEMO CLG. 01 1 7 KEY NOTE DOOR TAG 6'-3"

12'-10"

3068 HM 2

61'-6"

RIGHT - PARKING SHEET: DWG. TITLE: SCALE: DATE STORE # 13669 1/4"=1'-0"

D.1 TITLEMAX

TMX Finance NAME 15 BULL STREET 13669 TM LAS VEGAS CHARLESTON NV 33 SAVANNAH, GA 4741 E CHARLESTON BLVD LAS VEGAS, NV 89104 912-629-5151 D.1 DEMOLITION PLAN FRONT - E. CHARELSTON BLVD. ENTRY

5 14 5 14

5 TOY TOY

5 14

7 1 9 FLOOR PLAN 16'-0"

16'-5" 2 10 6 5

71'-1" 14 A.1 13'-9" 20'-0" 3'-6" 20'-0" 13'-10"

13 MGR ASM

6'-6" 6'-6" 6'-6" 6'-6" 6'-6" 6'-6"

4 RIGHT - PARKING 4 LEFT - ADJACENT PROPERTY

5'-0" 5'-0" 5'-0" 5'-0" 5'-0" 5'-0"

PED PED PED PED PED PED 15'-0" 14'-7"

3 3 ROOM FINISH SCHEDULE 15'-1" NUMBER ROOM ROOM FINISHES CEILING HT. AREA SQFT REMARKS FILLER PED KEYS FIRE CABINET FILE FILE KING 4'-0" RM/DM 4'-0"

BASE 12 FLOOR WALLS CEILING REF. 12 BREAK CAB. 101 SALES AREA CARPET BLACK VINYL PAINT ACT 2X4 9'-3" 1790 SEE KEYNOTES 2'-0" 4 102 STORAGE NC NC NC NC NC 505 EXISTING TO REMAIN 10'-11" 10'-11" 103 CORRIDOR NC NC NC NC NC 825 EXISTING TO REMAIN

104 UTILITY AREA NC NC NC NC NC 293 EXISTING TO REMAIN

10'-0" 105 RESTROOM NC NC NC NC NC 115 EXISTING TO REMAIN SUPPLY SHELF 11 106 RESTROOM NC NC NC NC NC 117 EXISTING TO REMAIN

107 UTILITY AREA NC NC NC NC NC 126 EXISTING TO REMAIN 11 108 UNOCCUPIED NC NC NC NC NC 50 EXISTING TO REMAIN 11 11 11 109 UNOCCUPIED NC NC NC NC NC 328 EXISTING TO REMAIN TITLEMAX 13669 TM LAS VEGAS CHARLESTON NV 33 4741 E CHARLESTON BLVD LAS VEGAS, NV 89104 STORE # 13669 8 PROPOSED FLOOR PLAN NOTES: 8 DATE NAME

1. PATCH/REPAIR DEMO SCARS OR WHERE WALL DAMAGE ALREADY EXISTS 11 WITHIN PROPOSED SALES AREA. 2. SKIM COAT EXISTING FLOOR SLAB IN SALES AREA AS REQUIRED TO PROVIDE A SMOOTH SURFACE FOR NEW FLOORING. 3. WRAP COLUMNS WITH GYP. BD. PER PLANS. (MINIMUM PROFILE) WH 4. FURNISH/INSTALL NEW METAL STUD GYP. BD. ASSEMBLY (UP TO EXISTING 11 CEILING GRID) PER PLAN. 5. FURNISH/INSTALL NEW STOREFRONT WINDOWS/DOORS w/8'-0" HEAD HEIGHT REAR- PARKING GRAPHICS SCHEDULE 1 PROPOSED FLOOR PLAN: / AND 18" SILL PER PLAN AND TMX SPECS. REF EXTERIOR ELEVATIONS. A.1 4 2 0 4 8 6. FURNISH/INSTALL NEW CARPET AND BASE PER FINISH SCHEDULE & TM SPECS. 7. PAINT INTERIOR WALLS PER FINISH SCHEDULE & TM SPECS. WALL STRIPES 19 PCS. 8. RESTROOMS ARE EXISTING TO REMAIN; CLEAN THOROUGHLY PRIOR TO TURNOVER TO TITLEMAX STAFF. WINDOW STRIPES 58 L.F 15 BULL STREET SAVANNAH, GA 912-629-5151

9. PATCH/REPAIR DEMO SCARS AS REQUIRED WHERE FIXTURES/EQUIPMENT TMX Finance HAVE BEEN REMOVED. (FLOORS/WALLS/CEILINGS) TAG LINES 14 EA. SCALE: 10. INSTALL NEW WALL & WINDOW GRAPHICS PER TM SPECS. LEGEND: E EXISTING ITEM 1/4"=1'-0" 11. VERIFY ALL EXISTING DOORS TO REMAIN ARE IN GOOD WORKING ORDER. SURGE SCHEDULE TO REMAIN 12. FURNISH/INSTALL NEW FLAT PANEL 3'-0" X 6'-8" PRE-HUNG WOOD DOOR N NEW ITEM DWG. TITLE: R RELOCATED AND FRAME WITH PASSAGE HARDWARE PER TITLEMAX SPECS. (PROVIDE SIZE 50' CORD 25' 15' 6' PRIVACY LOCKSETS FOR NEW RESTROOM DOORS) EXISTING TMX E FURNITURE/ FIXTURE 13. FURNISH/INSTALL NEW FLAT PANEL 3'-0" X 6'-8" PRE-HUNG METAL EXT. NEW QUANTITY 0 4 0 3 DOOR/FRAME AND THRESHOLD WITH PASSAGE HARDWARE PER TITLEMAX WALL WALL 1 KEY NOTE SHEET: SPECS. NOTE: SEE DETAILS 1 & 2/G.1 FOR ADDITIONAL GRAPHICS PLAN NOTE: 14. PROVIDE WINDOW TINT TO WINDOWS PER PLAN AND TM SPECS. INFORMATION 1. LIGHTER LINE WEIGHTS INDICATE EXISTING CONDITIONS/ITEMS. A.1 FRONT - E. CHARELSTON BLVD. ENTRY

2 M.E.P. PLAN A.2

D4T 3'-0" 3'-0"

V4T RIGHT - PARKING C2T D4T LEFT - ADJACENT PROPERTY V4T C2T

11'-3" 12 9'-1" 2'-10" 13

MF2T MV2T MD2T MTR T

11 SD1T 2'-3" 2'-10"

EQ. EQ.

6 TITLEMAX 13669 TM LAS VEGAS CHARLESTON NV 33 4741 E CHARLESTON BLVD LAS VEGAS, NV 89104 STORE #

MECHANICAL, ELECTRICAL AND PLUMBING CONSTRUCTION NOTES: 3 3 9 13669 10 1. FURNISH/REWORK/MODIFY EXISTING ELECTRICAL DEVICES, SWITCHES AND DATE NAME OUTLETS AS REQUIRED FOR NEW STORE LAYOUT; TERMINATE CIRCUITS AS REQUIRED. 5 2. REMOVE/DISCARD/DISCONNECT ANY MECHANICAL/ELECTRICAL FIXTURES/DEVICES AFFECTED BY DEMOLITION IN PROPOSED SALES AREA; 4 CAP ALL PENETRATIONS AND REMOVE ASSOCIATED MEP CONNECTIONS. WH 3. EXISTING RESTROOM FIXTURES TO REMAIN. VERIFY EXISTING FIXTURES ARE IN GOOD WORKING ORDER. 4. EXISTING WATER HEATER TO REMAIN. VERIFY UNIT IS IN GOOD WORKING REAR- PARKING ORDER. 1 MEP PLAN: / 5. VERIFY EXISTING UTILITY SINK IS IN GOOD WORKING ORDER. A.2 4 2 0 4 8 6. FURNISH/INSTALL NEW HI/LO DRINKING FOUNTAIN PER LOCAL CODE AND VOICE & DATA WHIP SCHEDULE PLANS. 7. SECURITY VENDOR TO PROVIDE NEW FLAT PANEL MONITOR @ THIS LEGEND: WIRE PULL 50' WHIP 25' WHIP 14' WHIP E EXISTING ITEM

LOCATION. 7' WHIP TO REMAIN 15 BULL STREET SAVANNAH, GA 912-629-5151 8. DVR WALL SHELF AND MONITOR OUTLETS @ 72" AFF. (CORDLESS) N NEW ITEM TMX Finance SCALE: 9. INSTALL/UPGRADE TBB BOARD, QUAD OUTLET #6 GROUND AND 1" DATA 11 0 4 3 R RELOCATED CONDUIT TO AT&T DEMARK PER TITLEMAX SPECIFICATIONS AS REQUIRED. T THERMOSTAT 1/4"=1'-0" VOICE 10 0 4 3 1 FIRE EXTINGUISHER 10. CCS TO INSTALL TDP AND VOICE DATA DROPS NOT ON SITE. EXT. NEW DWG. TITLE: 11. PROVIDE (2) NEW DUPLEX OUTLETS AT 42" AFF AT THIS LOCATION. PROVIDE WALL WALL 1 KEY NOTE SEPARATE CIRCUIT FOR EACH OUTLET. DEBIT CC 6 PLAN NOTE: 1. LIGHTER LINE WEIGHTS INDICATE 12. FURNISH/INSTALL NEW DUPLEX OUTLET DEDICATED TO KEY MACHINE AT THIS EXISTING CONDITIONS/ITEMS. 2. REFER TO DRAWING 3/G.2 TO LOCATION. TOTAL 27 0 8 6 1 COORDINATE OUTLET LOCATIONS WITH FURNITURE CUT-OUTS AND 13. FURNISH/INSTALL NEW DIGITAL THERMOSTAT(S) IN SALES AREA PER TM ELECTRICAL/DATA REQUIRMENTS. SHEET: 3. TBB BOARD LOCATION IS APPROXIMATE SPECS. NOTE: REFER TO DETAIL 3/G.1 AND 3/G.2 FOR INSTALLATION DETALS (IF APPLICABLE). G.C. TO DETERMINE MOST APPROPRIATE LOCATION. A.2 FRONT - E. CHARELSTON BLVD. ENTRY

12 12 12 12 10 10 10 12

1 5 R.C.P. PLAN 2 6 3 7 12 4 8 A.3

10 RIGHT - PARKING LEFT - ADJACENT PROPERTY

EQ. 11 EQ.

10 10 10

REFLECTED CEILING PLAN NOTES:

1. DEMOLISH EXISTING WALL AND CEILING MOUNTED LIGHT FIXTURES IN NEW TITLEMAX 13669 TM LAS VEGAS CHARLESTON NV 33 4741 E CHARLESTON BLVD LAS VEGAS, NV 89104 SALES AREA OR AS INDICATED. TERMINATE CIRCUITS NOT TO BE REUSED. STORE # 2. DEMOLISH EXISTING WALL AND CEILING MOUNTED SECURITY 10 10 FIXTURES/EQUIPMENT. 13669 3. EXISTING ACT CEILING GRID TO REMAIN. REMOVE CROSS TEES AS REQUIRED 9 9 DATE NAME TO CREATE 2X4 GRID IN SALES AREA. PATCH/REPAIR AS REQUIRED DUE TO DEMOLITION. PAINT GRID TM WHITE. 4. DEMOLISH EXISTING ACT CEILING TILES; FURNISH/INSTALL NEW 2X4 ACT TILES PER PLAN AND TM SPECS.

5. VERIFY EXISTING R-30 INSULATION ABOVE SALES AREA IS ADEQUATE; INFILL 10 AS REQUIRED DUE TO DEMOLITION AND/OR WATER DAMAGE. 10 6. FURNISH/INSTALL NEW 2X4 LIGHT FIXTURES IN CEILING GRID PER TM STANDARDS AS REQUIRED FOR NEW STORE LAYOUT (AND PER FINISH SCHEDULE). *(4) UNITS TO REMAIN ON 24/7 IN SALES AREA. FIELD VERIFY ALL REAR- PARKING 1 REFLECTED CEILING PLAN: / OTHER EXISTING LIGHTING TO REMAIN IS IN GOOD WORKING ORDER. 7. DEMOLISH EXISTING GYP. BD. CEILINGS AND HEADERS (AND ASSOCIATED A.3 4 2 0 4 8 FIXTURES) PER DEMO PLAN. 8. EXISTING HVAC SYSTEM TO REMAIN. VERIFY EXISTING EQUIPMENT IS IN GOOD WORKING ORDER. REWORK/RELOCATE/REPLACE EXISTING HVAC

DIFFUSERS, RETURNS AND DUCTWORK TO PROPERLY CONDITION NEW SALES 15 BULL STREET SAVANNAH, GA 912-629-5151 TMX Finance AREA AND PER TITLEMAX SPECIFICATIONS. (CLEAN ALL EXISTING HVAC SCALE: GRILLES TO REMAIN IN NEW SALES AREA.) LEGEND: E EXISTING ITEM 9. VERIFY EXISTING EXHAUST FAN(S) FOR RESTROOM(S) ARE IN GOOD TO REMAIN 1/4"=1'-0" DWG. TITLE: WORKING ORDER. N NEW ITEM 10. VERIFY EXISTING EMERGENCY EXIT FIXTURES ARE IN GOOD WORKING R RELOCATED ORDER. FURNISH/INSTALL NEW EMERGENCY EXIT SIGNS/LIGHTS WHERE EXIT SIGN NONE EXISTS, AND AS REQUIRED BY LOCAL CODES. EXT. NEW WALL WALL 11. NEW TM STANDARD TRACK LIGHTING FOR SIGNAGE PER SPECIFICATIONS. 1 KEY NOTE SHEET: 12. PROVIDE NEW CEILING MOUNTED CONVENIENCE OUTLETS AT WINDOWS PLAN NOTE: PER PLAN. 1. LIGHTER LINE WEIGHTS INDICATE EXISTING CONDITIONS/ITEMS. A.3 TM WALL GRAPHICS "KOMATEX" (BLUE) *varies* 8" 2" 2" TM WALL GRAPHICS "KOMATEX" (RED) 4 G.1 EQUAL EQUAL INSTALLATION NOTE: TRACK WALL STRIPES TO BE INSTALLED BEHIND OR COMPLETELY SURROUNDING ALIGN STRIPING WITH TOP OF STOREFRONT LIGHTS EXISTING WALL FIXTURES/EQUIPMENT. 6" TM WALL GRAPHICS "KOMATEX" (BLUE)

CORRECT STANDARD DETAILS EXIT TM WALL GRAPHICS "KOMATEX" (RED)

2'-0" MIN. MONITOR G.1 INCORRECT EXIT TM WALL GRID SIGN KEY CAROUSEL 9'-3" CEILING

5 TITLEMAX WALL GRAPHICS KEY G.1 MACH. PRINTER 6'-0" 3'-6" A.F.F.

FILE FILE FIRE KING FILLER CABINET FILLER CABINET RM/DM DESK

WALL WIDTH (VARIES)

%(1' OUT OF WALL NOTES: 1. BOTTOM OF WALL GRID SIGN SHALL BE MOUNTED AS SHOWN ABOVE AS DETERMINED BY THE CEILING HEIGHT. 2. TRACK LIGHT SHOULD BE MOUNTED TO CEILING PARALLEL TO THE GRID SIGN WALL AND 4'-0" OUT FROM THE WALL, AND CENTERED ON THE SIGN. 3. WHEN CEIILNG HEIGHT IS BETWEEN 8'-9" (OR 9'-10', OR 10'-11', ETC.) THE DIMENSION FROM THE CEILING TO THE TOP OF TM WALL GRAPHICS SHALL INCREASE INCREMENTALLY FROM THE NUMBER SHOW ABOVE BUT SHALL NOT EXCEED THE DIMENSION OF THE NEXT STEP UP. (IE. CEILING HEIGHT OF 9'-6" : DIMENSION TO BE 0'-9") 4. REF FURNITURE SPECS FOR DETAILS AND DIMENSIONS FOR EQUIPMENT AND FURNISHINGS. THE KEY MACHINE SHOULD NEVER BE LOCATED IN FRONT OF THE INTERIOR WALL SIGN. 5. MONITOR BY SECURITY VENDOR. GC TO COORDINATE WITH POWER/DATA ACCESS. REF 4/G.2 2X4 ACT 2x4 ACT CEILING SYSTEM CEILING SYSTEM PER TM SPECS PER TM SPECS (CLG. HT. VARIES) 1 TYPICAL WALL SIGN, WALL GRAPHICS, & RM/DM FURN. LAYOUT (CLG. HT. VARIES) G.1

TITLEMAX STANDARD 4'-0" TRACK LIGHTING 3 4" CONDUIT (WIRED WITH NIGHT/SAFETY W/PULL STRING LIGHTS TO STAY ON 24/7) BY CONTRACTOR NOTE: 1. G.C. TO PROVIDE STRUCTURAL SUPPORT AS NECESSARY TO SUPPORT TRACK FIXTURE.

NOTES: 3 TM STANDARD 1. G.C. TO INSTALL 4" CONDUIT PULL GRID SIGN; STRING AND JUNCTION BOX PER SEE 1/G.1 FOR CODE. MOUNTING REQ. 2. CSS TO PULL CAT 5E CABLES AND TERMINATE PER TITLEMAX PHONE/DATA SPECIFICATIONS. TITLEMAX 13669 TM LAS VEGAS CHARLESTON NV 33 4741 E CHARLESTON BLVD LAS VEGAS, NV 89104 STORE # 13669 5 5 3 8" (20 GA) MTL. STUDS 3 8" (20 GA) MTL. STUDS 1 1 @ 16" O.C. w/ 2" GYP. BD. @ 16" O.C. W/ 2" GYP. BD. DATE NAME BOTH SIDES BOTH SIDES

DUPLEX JUNCTION BOX; MAX. 6 DROPS PER BOX/CONDUIT

FLOORING & BASE FLOORING & BASE PER FINISH SCHEDULE PER FINISH SCHEDULE 1'-4"

NOTES: 1. ALL WINDOWS GET WINDOW STRIPES (INCLUDING TRANSOM WINDOWS AT LEAST 14" TALL). WINDOW STRIPES TO ALIGN AT TOP OF GLASS. 2. THE EXAMPLE ABOVE REPRESENTS THE BEST LAYOUT FOR THIS SITE/PROJECT. 3. NEVER INSTALL WALL STRIPES AT AN ANGLE OR VERTICALLY IN AN EFFORT TO ALIGN TO WINDOW STRIPES. 4. CONTACT TITLEMAX PM IF FIELD MEASUREMENTS DO NOT SUPPORT LAYOUT OR IF SPECIAL CIRCUMSTANCES ARISE. 15 BULL STREET SAVANNAH, GA 912-629-5151

4 TRACK LIGHT MOUNTING DETAIL 3 TYPICAL DATA CONDUIT/OUTLET MOUNTING DETAIL 2 TYPICAL WALL & WINDOW STRIPING LAYOUT TMX Finance G.1 G.1 G.1 SCALE: VARIES DWG. TITLE:

SHEET: G.1 1" CONDUIT 5 W/PULLSTRING G.2

#6 GRND. TO ELEC. PANEL

#6 GRND. ACCESS FOR POWER/DATA CABLES BEHIND MONITOR; PHONE PROVIDER ALIGN W/ OUTLET SMART JACK

2'-0" CLR. ALARM DVR 2'-0" STANDARD DETAILS 66 BLOCK WALL SHELF TDP

3 5 4' X 4' X 4" (OR 8")

PLYWOOD TBB PANEL G.2 VARIES 2'-0" NUVOX 6'-0" *CLG. HT. VARIES* 6'-0" 3'-6" 2'-10" 3'-0"

REF SUPPLY SHELF BREAK CABINETS *WALL WIDTH VARIES*

2 TYPICAL LAYOUT/STANDARDS 1 TELEPHONE BACKER BOARD & SECURITY DETAIL G.2 NOTE: (2) DUPLEX OUTLETS OVER BREAK CABINET MOUNTED AT 42" AFF AND ON SEPARATE CIRCUITS. G.2

STOREFRONT

2X4 ACT CLG. SYSTEM PROVIDE ACCESS FOR PER TM SPECS EXISTING POWER/DATA CABLES (CLG. HT. VARIES) GROMMET BEHIND MONITOR; ALIGN w/ OUTLET

(MODESTY PANEL BELOW) TITLEMAX 13669 TM LAS VEGAS CHARLESTON NV 33 4741 E CHARLESTON BLVD LAS VEGAS, NV 89104

TITLEMAX STD. EXISTING STORE # SECURITY MONITOR GROMMET DVR/MONITOR POWER AND DATA OUTLETS NEW POWER POLE, PER TMX SPEC. 13669 TO BE INSTALLED BY ELECTRICAL CONTRACTOR DATE NAME DVR PRIOR TO FURNITURE DELIVERY/INSTALLATION. TITLEMAX STANDARD REF MEP DWG A.2 FOR WALL SHELF FOR DVR; DIMENSIONS/LOCATIONS. MOUNT BELOW OUTLET 1 1 2" MIN. 3" 1'-4" DESK

PLAN VIEW FIELD CUT TYPICAL DESK/RETURN TMX FURNITURE; INSTALL POWER SALES AREA BREAK AREA POLE BEZELS AT DESK OPENING AND AT CEILING. NOTE: ALL WIRING UNDER DESKS TO BE ATTACHED WITH EYELET ZIPTIES 3 TIGHT TO THE UNDERSIDE OF DESKS. G.1 6'-0" CCS WIRING

5 3 8" (20 GA) MTL. STUDS 5'-0" (TYP.) 3'-0" (TYP.) 1 RETURN @ 16" O.C. w/ 2" GYP. BD. BOTH SIDES RETURN DESK (FURNITURE 15 BULL STREET SAVANNAH, GA 912-629-5151 PANEL BELOW) 1'-2" MIN. - 1'-6" MAX. TMX Finance CUTOUT SCALE: EQ. EQ. FLOORING & BASE DASHED LINE REPRESENTS

EXTENTS OF TM "GRAY" " EQ. PER FINISH SCHEDULE 2 VARIES

REF 1 PAINT ON WALL BEHIND 10 DWG. TITLE: CUTOUT; BY FIT OUT CREW EQ. VOICE DATA / DATA VOICE

3 3 1'-4" 10 4" 10 " 1'-0" MIN. - 1'-4" MAX. 4 WIDTH WALL PLATES

SHEET: 5 SECURITY OUTLET AND EQUIPMENT DETAIL 4 POWER POLE INSTALLATION DETAIL 3 TYPICAL WALL PLATE LAYOUT & DESK CUTOUT @ EMPLOYEE DESKS G.2 G.2 G.2 G.2 TITLEMAX FINISH/SPECIFICATIONS SCHEDULE - INTERIOR TITLEMAX FINISH/SPECIFICATIONS SCHEDULE - EXTERIOR

INTERIOR TITLEMAX / EQUITY AUTO LOAN COMMENTS EXTERIOR TITLEMAX / EQUITY AUTO LOAN COMMENTS

Sign Specifications Title line is a custom font. Wrisco Industries Tag line is Swiss 721 Blk BT stretched 15% Wrisco Sunoco Blue or www.wrisco.com match PMS 287C Atlanta Chicago Wrisco Texaco Red or P: 800-753-1066 P: 800-627-8036 Metal TitleMax Interior White Refer to match PMS 485C F: 404-622-6225 F: 972-613-7002 Product: Sherwin-Williams B20W02251 TitleMax/Sherwin-Williams Dallas 3UR0DU,QWHULRU/DWH[ Full Paint Spec located P: 800-627-8848 Interior Wall Paint Egg-Shell Extra White at local Sherwin F: 972-613-7823 Williams store.

TitleMax Exterior White SPECIFICATIONS Product: Sherwin-Williams A08W00116 Refer to $([WHULRU/DWH[*ORVV:KLWH TitleMax/Sherwin-Williams Paint Full Paint Spec located at local Sherwin Desk/Return Cutout TitleMax Gray Refer to Williams store.

Background Product: Sherwin-Williams B31W02251 TitleMax/Sherwin-Williams G.3 3UR0DU,QWHULRU/DWH[ Full Paint Spec located Semi-Gloss Extra White at local Sherwin Williams store.

TitleMax Blue Refer to TitleMax White Refer to Product: Sherwin-Williams B66T00104 Interior Door & Trim TitleMax/Sherwin-Williams Product: Sherwin-Williams B34W00251 TitleMax/Sherwin-Williams DTM Acrylic Coating Gloss Ultradeep/Clear Tint Base Paint 3UR0DU,QWHULRU$ON\G6HPL*ORVV([WUD:KLWH Full Paint Spec located Full Paint Spec located at local Sherwin at local Sherwin Williams store. Williams store.

Carpet Shelmarc Carpet Mills, Inc.- "TMX" Textured Alternate w/approval: Shaw- Winchester TitleMax Red Loop-Pile, Color: TM-BLUE 26oz "Stratosphere" (blue) #49415 26oz Product: Sherwin-Williams B66T00104 Refer to DTM Acrylic Coating Gloss Ultradeep/Clear Tint Base TitleMax/Sherwin-Williams .090 FRP Wall board 4' x 8', white (and trim) FRP For use on RR walls where required by Full Paint Spec located local jurisdiction (or matching existing) at local Sherwin Williams store. Behr Premium 901, 1-Part Epoxy Concrete & Garage Epoxy Floor Paint For use on RR floors where required Floor Paint, Silver Gray by local jurisdiction only.

Alternate Only as Specified: VCT Armstrong 12" x 12" Standard Excelon Armstrong 12" x 12" Standard Excelon Imperial Texture Cool White 3.2mm Owens Corning Harbor Blue Duration Imperial Texture 51946 Gentian Blue 3.2mm Premium Architectual Shingles Roof Shingles 130 MPH Wind Rating Cove Base 4" Black Vinyl Base

GC to ensure min of 4 lights in sales area and a path to breaker panel to remain Grid Lighting 2x4 ACT Lay-in. 1 light per 75 sq ft. in sales area. Exterior Security Lights of America; 42W Fluorescent Wall Fixture, Available at most Home Depot stores on 24/7. (Wired with safety/night lights) Lighting: Bronze, Model # 9042 WALL PACK Interior Sign 3 head track light To remain on 24/7, no switch. Lighting Hampton Bay Model # EC6440WH Exterior Security Remote Head, Single lamp, 12V, 12W Incandescent GC shall submit spec to Lighting: fixture (compatible with existing and/or new interior Build Out PM for approval Acoustical Ceiling Armstrong or equal 2x4 acoustical lay-in, EXTERIOR EGRESS exit fixture), exterior mount over exit door. prior to installation. Tiles nondirectional fissured ceiling tiles LIGHTING

Ceiling Grid Ceiling Grid- White 2x4 layout NOTE: FOLLOW ALL LISTED TMX SPECIFICATIONS AS INDICATED WITHIN Storefront (New) Anodized Aluminum, Dark Bronze CONSTRUCTION DOCUMENTS; NO SUBSTITUTIONS UNLESS APPROVED BY TMX BUILD-OUT PROJECT MANAGER, AND/OR LOCAL CODE "TM / TB Store Bronze" Refer to Storefront Finish REQUIREMENTS. INSTALLATION AND APPLICATION OF ALL SPECIFIED Product: A41T00214 TitleMax/Sherwin-Williams All Surface Enamel Latex Low Sheen Ultradeep Full Paint Spec MATERIALS AND EQUIPMENT SUBJECT TO MFR WARRANTY AND BUILDING Additional Comments: B1 2Y33, R2 9, W1 39, Y3 46 Document CODE REQUIREMENTS.

Storefront Glass Solexia Annealed Green Double Glaze Insulated Glass or Match to Existing.

Storefront Door Full Glass Door to be centered or per plan; match storefront glass TITLEMAX 13669 TM LAS VEGAS CHARLESTON NV 33 4741 E CHARLESTON BLVD LAS VEGAS, NV 89104 STORE #

Window Tint 3M Affinity 30; 33.0% Visible Light Transmitted, 99.9% Tint windows in all stores UV Rejected, 63.0% Glare Reduction, 29.0% in TX, AZ, NV, NM Reflectivity, 61.0% Total Solar Energy Rejected 13669

DATE NAME Interior Doors Residential Flat panel split jamb pre-hung residential door

Flat panel exterior grade steel door Interior access to non-climatized single bore with threshold. space; i.e. kitchens, storage

Interior Door Schlage Satin Chrome Elan Hall and Bath lever (privacy lockset) on TITLEMAX PROJECT CONTACTS Hardware Closet Lever or Bath Lever restrooms only.

Stores with 3 sides of glass may VENDOR COMPANY CONTACT INFORMATION HVAC 1 ton per 300 SF; 1 ton per 275 SF West require more. If there are of the Mississippi River. questions, please contact the DATA/LOW Complete Bryan Buczek P: (866) 842-4239; TMX Build Out PM. VOLTAGE Communication Service Email: [email protected] (CCS) Digital Thermostat Honeywell Deluxe Digital Non-Programmable Refer to Mfr full spec for installation SECURITY Stanley Security Solutions Mike Dawson P: (770) 689-2155; M: (404)550-9580; Thermostat requirements. Sales Email: [email protected] Model # RTH5100B Internet # 203186916

TELE-COMM. TitleMax Corey Harris P: (912) 721-5816; M: (912) 655-3330; Security DVR Shelf Closet Maid Single Shelf Heavy Duty Available at Lowe's; Item # 12984, Utility Project Manager Email: [email protected] Garage Pre-Pack (See Std. Details for Model # 3598 installation specifications) Sasha Shrier P: (912) 721-5995; Email: [email protected] 15 BULL STREET SAVANNAH, GA 912-629-5151 TMX Finance SIGN PROJECT TitleMax Ronnie Hall P: (912) 721-5896; M: (912) 414-8094; SCALE: TBB/Data 3/4 in. thick, 4' x 4' Plywood Backboard with MANAGER Email: [email protected] Quad Outlet and #6 Ground with Bar. 1" conduit w/pull string to exterior DMARC location. SITE LAND LORD - - - N/A SIGN COMPANY - - - DWG. TITLE: Low Voltage TDP Panel and comply with plan for drops/whips. MISCELLANEOUS - - -

Data Specs General Contractor to install conduit DQGSXOOVWULQJSHUGUDZLQJVDWRQHöµ conduit per 6 CAT5E lines.

Service Pole for 10'2", White/Ivory, Aluminum Power Bar Hubbell Wiring Device - Kellems TMX standard SHEET: Blank Pole, No receptacles or Data White or Ivory (White preferred) Voice/Data/Power Knockouts Provided, 2 Channel *Also include (2) bezels for each drops - where (See detail 4/G.2 for installation) pole. (1 at desk, 1 at ceiling) applicable. G.3 TITLEMAX SPECIFICATIONS TITLEMAX SPECIFICATIONS - SIGNAGE (as of January 2012) (as of February 2013) END OF JOB: MEET WITH DM OR RM to review and complete the TM GC Completion Checklist and the TM GC Completion Warranty . You fill GENERAL NOTES: SIGNAGE GENERAL NOTES: out the top part and the DM fills in the Pass/Fail and comments. This should include any warranties that are applicable like new HVAC or 1. General Contractor (GC) to confirm that he is aware of and has knowledge of all Permit requirements for the scope of work for the GC 1. Sign Vendor shall coordinate with Landlords, if applicable, for any Landlord approvals and/or requirements. roof replacement. This form must be signed by a DM or RM only. A store manager cannot sign this form. This form must be included and all TitleMax vendor installations, including but not limited to, Low Voltage and Electrical Sign installations. 2. Sign Vendor to confirm that he is aware of and has knowledge of all Permit requirements for the scope of with your C. of O. in order to receive payment. 2. GC is responsible for obtaining the Permits as prescribed by the specific project. Some projects will have Architectural and work for vendor installations, including but not limited to, Wall signs, Freestanding Signs and Electronic Engineering plans already submitted for the GC to pay for the Permit Fee and pick up, other jobs will require the GC to make Messaging Centers (EMCs) & temporary banner signs. application for and pick up the permits. Building permit fees are reimbursable but do not include mark up. Trade permits are included 3. Sign Vendor is responsible for applying and obtaining the Permits as prescribed by the specific project and in GC's Bid Trade line items. ACCOUNTING: jurisdiction. 3. GC is responsible for securing and coordinating all inspections. 4. Sign Vendor is to know the local code requirements and be responsible for securing and coordinating all 4. GC shall ensure all utilities are connected and coordinate with Titlemax District Manager (DM). You will receive a PO # for your NTP Base Contract Amount. You will need to put this PO# on your Invoice. You will receive a PO # for inspection completions, and to coordinate these inspections with the GC. 5. *&VKDOOHQVXUHWKDWDWHOHSKRQHEDFNERDUG³7%%´ [3O\ZRRG D&RSSHU*URXQGZLUH´&RQGXLWZSXOOVWULQJIURPWKH7%% each additional Change Order or Group of Change Orders. These PO numbers must be on your invoice. 5. Sign Vendor shall coordinate the electrical permit requirements with the GC (who is responsible and who board to the exterior building D-Marc location and quad convenience outlet, all are in place or to install the same (max. 4 days after needs to apply). start of construction). 6. Sign Vendor to coordinate sign installation with GC. Service and connection by GC. GC responsible for Please follow the following guidelines for accounting of these: 6. GC shall ensure the phone company has access to installed service to D-Marc. providing/confirming electrical circuit at building and freestanding sign. Sign Vendor to coordinate electrical 7. GC shall ensure that the store is ready for alarms. Coordinate Permit Requirements, Installation and Inspections alarm company. requirements with GC including, but not limited to: Wall Signs, Freestanding Signs and EMCs; and that all 8. GC shall ensure that store is ready for Signs. Coordinate installation, service and connection by GC, Permits and inspections by Sign 1. Jobs should not start without a NTP (Notice to Proceed) dedicated circuits have been installed/available by GC prior to sign installation. GC shall ensure that store is Company. Coordinate with Sign Vendor. 2. After the NTP you will receive a PO for the Base Contract Amount (Your Approved Bid Amount) GENERAL NOTES ready for Signs. Note: Building signs shall stay on 24/7 w/no time clocks, photo cells, switches, etc. Pole 9. GC shall confirm that there is a working electrical sign circuit at the building and freestanding sign, where applicable. If not 3. When a Change Order is required, email the Change Order Form to the Build-Out PM and we will send it back approved or requesting signs (pylon monument) signs ON/OFF with new photo cell. EMC signs on 24/7 w/no time clocks, photo existing/working, GC to provide quote to TitleMax for a change order for this work, unless already included in the bid. Coordinate with additional information. Please have an idea of the cost of the Change Order when you call; do not ask for a verbal approval to replace an cells, switches, etc. Sign Vendor for scope of work and any electrical requirements. item without a preliminary cost associated with that item. 7. Sign Vendor to coordinate with GC that TBB board has been installed and workstation turn-up is complete in 10. GC shall ensure and notify when store is ready for TitleMax furniture. Coordinate with TitleMax Project Manager. order to install any interior EMC components to hook up the sign and upload content. Sign vendor to 4. DO NOT PERFORM any work without a signed Change Order Form; you will not get paid for this if it is not approved. 11. Coordination with TitleMax Operations personnel. coordinate proper installation of EMC Modem wiring with GC. 5. Call the Build-Out PM if you do not have an answer on a Change Order within 24 hours.

12. Coordination with Landlords, if applicable, for any Landlord work and or Landlord responsibility for repairs. G.4 8. A copy of the Sign Permit must be emailed to TitleMax Sign Project Manager prior to approval of Sign 6. You will receive a PO # for your Change Order after the Approved Change Order Form is sent. 13. GC is responsible to know the local code requirements and coordinate all inspection completions including Sign and Low Voltage installation. 7. At the End of the Job your Invoice needs to include All PO #s related to this project adding up to your Invoice Total. inspections in order to obtain a Final Certificate of Occupancy. 9. Completion/Installation photos must be emailed to TitleMax Sign Program Manager at the time of install for (Sample) final payment. 14. GC responsible for any building related inspections that the TMX Operations personnel would need to obtain a business license (i.e. a Fire marshal inspection post CofO). 1. Base Contract: PO0001234 $ 50,000.00 15. A copy of the Final Certificate of Occupancy must be faxed/scanned/copied and emailed to the Titlemax Project Manager prior to 2. Change Order PO #1 PO0001241 $ 1,000.00 SIGNAGE END OF JOB: approval of final payment. 3. Change Order PO #2 PO0001256 $ 500.00 Send your invoices to [email protected] for payment. Make sure that all invoices have the Total $ 51,500.00 corresponding PO numbers on them, as well as an Invoice number, or they will not be processed. The balance 173³1RWLFHWR3URFHHG´HPDLO This email goes out to the GC advising that the bid is approved and work should start immediately upon receipt of permits. on your invoice MUST match the PO. 8. This invoice should be emailed to [email protected] with your close out documents. We expect that you will:

1. FILE for and monitor the permit process unless we advise otherwise. GC CLOSEOUT DOCUMENTS GUIDELINES 2. FIND OUT if a Low Voltage Permit is required and advise Laura Strieber ([email protected]) and the Phone/Data/Security Following are the required close out documents that are to be submitted to the Construction Administrator at the end of each Vendors. job. Please do not send them to anyone else as this may delay your payment. TITLEMAX SPECIFICATIONS - PHONE/DATA/SECURITY GENERAL NOTES 3. FIND OUT EVERYTHING AND ALL ITEMS, STEPS and PROCEDURES REQUIRED TO OBTAIN A FINAL CERTIFICATE OF 1. Fully Executed NTP Letter. This is the first form that should be returned to TitleMax. Once you receive this letter from TM, sign and (as of February 2013) OCCUPANCY. YOU WILL NOT BE PAID UNLESS WE HAVE A COPY OF THIS DOCUMENT IN HAND. The DM may need to fill return it within 24 hours. out some forms, apply for business license, and be present at an inspection, but the GC IS RESPONSIBLE TO OBTAIN THE CofO Low Voltage EVEN IF THE DM HAS TO FILL OUT THE FORMS. YOUR JOB IS NOT FINISHED UNTIL WE HAVE A CofO in hand FROM YOU! 2. GC Completion/Warranty. This form is for you to fill out your warranty information. This form should be TYPED and in PDF format CCS (205-263-2510) IT IS NOT THE DM's RESPONSIBILITY TO WAIT ON INSPECTIONS OR GO TO THE CITY TO PICK UP THE CofO. PLEASE and completed at your office with a copy given to the DM at store turnover. 1. Contact Bryan Buczek at start of job, but not less than FIVE business days prior to requested date of tech on site, UNDERSTAND WHAT IT WILL TAKE TO GET THE CofO AND PLAN FOR THIS IN YOUR BID. TIME, COSTS, AND PROCEDURE. for cabling rough-in. 3. GC Checklist. This is your checklist that is signed by the RM/DM ("Operators") at the end of your project. This form can and should 2. DO NOT contact the local tech; this does not allow for materials for the job to be ordered/shipped in a timely 4. CONTACT Joe Celento at 912-629-1549 to inquire if voice / data have already been installed. Start coordination as soon as you get be filled out by hand on site. Any items that are not satisfactory to the Operator are to be listed in the "Notes/Comment" column. fashion. the NTP. DO NOT DEMO ANY VOICE/DATA EQUIPMENT until you contact Joe. Voice / Data may have already been installed as 3.1. Any GC Scope Items should be completed by you or your subcontractors and approved again by the Operators. 3. Apprise CCS of desired initial install of low voltage wires & TDP equipment "rough in" and workstation turn up date. the lead time can be 60-90 days. 3.2. Any Landlord Scope items, the GC should contact the Landlord and the TM PM for direction. CCS has two (2) scheduled visits. 3.3. Any Out of Scope items, GC should speak with TM PM for possible approval of Change Orders. 4. Conduit/pull strings and TBB should be in place prior to CCS tech on site for rough-in cabling. 5. INSTALL the TBB (Telephone Back Board, see notes above for specifications). Notify and schedule with Joe Celento if you cannot physically get to the site within the 4 days of NTP. 5. Schedule walk through with CCS tech to lessen punch list items which would require a return trip. 4. Subcontractor Lien Waiver. Lien Waiver from each of your subcontractors and/or material men who work on or supply materials on 6. GC to notify CCS if low voltage permit is required. 6. CALL the Build-Out Project Manager and advise on who the Superintendent is, his/her phone number (if a new Super set up a call our projects where the cost is $2,000 or more. STANLEY (612-872-3434) to go over the NTP letter, Contract Documents and Project Procedures) and set the schedule for start and completion. Ensure that 5. Fit Out Checklist. This checklist is filled out by the fit out crew and signed by the RM/DM. If fit out is done by others this form is not 1. Contact Julie Turner (612-872-3482) at start of job but not less than TEN business days prior to RTO date for your Super has a copy of the NTP, this list and all contract Documents. required for your close out. CCTV/ALARM installation. 2. DO NOT DEMO existing security equipment if store is remodel or backfill. 7. PERFORM a Start-Up Service on the HVAC and advise if system needs repairs or replacement (if a new system is not provided in the 6. Certificate of Occupancy. 3. Apprise Stanley of RTO date. scope of work). 6.1. Original to be given to the store. Advise them to display on wall in salesroom. 4. Permanent power, phone lines, walls, doors and ceilings: all should be installed or already in place prior to the 6.2. Send copy to TM Construction Administrator. Stanley tech on site for security installation. 8. FLOOD THE ROOF as soon as you get on the job site. We want you to take a garden hose and lawn sprinkler head ( 6.3. Keep copy for your records. 5. Schedule walk through with Stanley tech to lessen punch list items which would require a return trip. Model: 8835PMGF ,WHPRUVLPLODU 8QOHVVLWLVUDLQLQJWKHGD\WKDW 6. Coordinate low voltage permit requirements with GC. your arrive). Also, spray water around the HVAC units and flashing, and parapet walls. Check inside for roof leaks. If there are roof leaks, check NTP. If the Landlord is responsible for the roof, please call landlord immediately. If not, call a local 7. GC Certificate of Store RTO & RTO Photos (Ready To Open). RTO Certificate and RTO Photos must be sent to [email protected]. All items MUST BE complete. This certificate is stating that this store is now ready to be turned over to our VOICE/DATA roofing contractor and get price to patch roof and make necessary repairs. Call the Build-Out Project Manager to discuss operations department and the store can legally open. Any falsification on this document could prevent the GC from receiving any 1. Voice / Data install may consist of 3 separate install dates depending on the phone provider; for all carriers the and obtain approved change order. further jobs from TitleMax. following must be installed prior to their installations: TBB (4'X4' Backboard, #6 ground, quad outlet, 1" conduit with a pull string) 9. CALL the Security Vendor Stanley Security Solutions; Jason Saulsbury (612) 872-3448 or Mike Dawson (770) 689-2155 to On the date that the Construction Administrator receives ALL of the above documents (with the exception of the Fit Out Checklist as noted 2. DO NOT DEMO EXISTING EQUIPMENT. Voice / Data may already be installed. Call TMX Utilities Project schedule the security install. (Advise them of any license or low voltage permit requirements) Call TEN (10) days prior to RTO date above) the Construction Administrator can then advise the Project Manager to release your payment. TM payment terms are Net 15 days Manager for confirmation. for scheduling security tech. from this date. 3. T1 (phone provider equipment install) The only form that comes after you are paid is your GC Waiver of Lien. 4. PTD (Century Link equipment install) 10. CALL the Low Voltage Vendor (CCS - Butch Mayhew 205-263-2510) FIVE (5) days prior to requested date for onsite tech to 5. Final cutover - confirm active dial tone and data. perform cabling rough-in. (Advise him of any license or low voltage permit requirements) 8. GC Waiver of Lien. This is your lien waiver for our records. This form is provided to TM once you have received your payment from 11. ENSURE a Key to the space is in our Lock Box with code 0326 or install a lockbox with the key and use code 0326. Make sure TM. Please send to Construction Administrator within 5 days of of your payment. Failure to submit GC Final Waiver will delay the DM has a key. other project payments.

12. CALL the DM (District manager) as listed on the NTP letter. Introduce yourself and make arrangements to give the DM a Key to the store. THIS IS YOUR CUSTOMER. TREAT THEM AS SUCH. Ask the DM if the Utilities are set up; if not, ask if they could please TITLEMAX 13669 TM LAS VEGAS CHARLESTON NV 33 4741 E CHARLESTON BLVD LAS VEGAS, NV 89104 do so immediately. (Utilities are put in TitleMax name by the DM) 12.1. Connection of the utilities is the GC RESPONSIBILITY. The DM will order service and pay deposits, BUT THE GC IS STORE # TITLEMAX SPECIFICATIONS - FURNITURE "FIT-OUT" RESPONSIBLE TO ENSURE THAT UTILITIES ARE TURNED ON. (as of February 2013) 12.2. THE DM DOES NOT HAVE THE AUTHORITY TO CHANGE OR ADD TO YOUR SCOPE OF WORK. Be Pleasant and professional with any DM/RM requests and tell them that you will take their request/concerns to the TMX Build Out Project Project may specify a separate fit out vendor, or the fit out is to be installed by GC. Manager for approval and instructions to proceed. 13669 1. Coordinate furniture install date and delivery schedule with TM Project Manager. 13. START DEMO if possible on a Demo Permit. 2. GC to research final occupancy requirements; determine if local code allows furniture to be installed prior to DATE NAME CofO or after. 14. PAINT THE OUTSIDE OF THE BUILDING AS SOON AS POSSIBLE AND PRACTICAL. DO NOT WAIT UNTIL THE END OF THE 3. GC to ensure furniture is installed per plan, regardless of who installs the furniture. JOB TO PAINT THE BUILDING. Most times you can paint the building without a permit. 4. Call TM Project Manager if any furniture cannot be installed as shown on plan. 15. ORDER BLUE ROOFING SHINGLES (see TM Specs) ASAP. (If Applicable per the scope) THERE CAN BE A LONG LEAD TIME FOR THESE SHINGLES.

16. CALL Sign Manufacturer as listed on the NTP letter and Schedule Sign Connection. GC IS RESPONSIBLE FOR FINAL SIGN ELECTRICAL CONNECTION, OBTAINING ELECTRICAL PERMIT AND INSPECTION ON CONNECTION. If Sign Company does not respond, call our Sign Project Manager or the TM Project Manager.

17. ADVISE TM Build Out PM of the date that we can put the furniture in the store. This is typically the day after Final Inspection and C of O.

18. PROVIDE project status on the weekly GC Status Report.

LEAVING A MESSAGE FOR A VENDOR OR TM CONTACT IS NOT DOING YOUR JOB; CALL UNTIL YOU MAKE THE CONTACT AND SCHEDULE THE ITEM. If, after 48 hours, you have not received a return phone call from a vendor, contact the TM Build Out Project Manager immediately.

BID DOCUMENTS: ALL of the following bid documents are a part of the job and scope of work. 1. GC Bid Form (MS Excel Spreadsheet) 2. TM Plan Set: Demo Plan, Floor Plan, MEP Plan, RCP Plan, Project Details (if required), Standard Details, Specifications, and General Notes. (possible Cover page and Site Plan)

3. Architectural and Structural Plans, if applicable. 15 BULL STREET SAVANNAH, GA 912-629-5151

4. Proposed Exterior Elevations AND THE SCOPE NOTES LISTED ON THE ELEVATIONS. TMX Finance 5. Sign Drawings (For locations and quantity of your sign circuits and connections) BUILDING SIGNS STAY LIT 24/7, no switches, time SCALE: clocks or photo cells. Pylon signs (Road Signs, Monument Signs) GET A PHOTO CELL ONLY. N/A DWG. TITLE:

SHEET: G.4 PROPOSED EXTERIOR CHANGES

FRONT ELEVATION EXISTING CONDITION

FRONT ELEVATION PROPOSED CHANGES SCOPE OF WORK 1. Pressure Wash Exterior of Building, Site, Sidewalks and curbs.* 2. Remove existing awning/columns and patch/repair demo scars to match adjacent finish.* 3. Prep/Paint exterior walls and/or trim TM White.* 4. Relocate address numbers per local code. 5. Prep/Paint fascia wall TM Blue as indicated. Coordinate with sign location.* 6. Furnish/install exterior wallpaks as indicated Verify exterior lighting to remain is in good working order.* 7. Clean Up and Trim Landscape Areas; spray weed killer throughout site/building exterior.* 8. Furnish/install new storefront doors and windows with 8’-0” head height and 18” sill per plans and TM specs.* 9. Provide Electric service and Connection to all New Sign Locations. Coordinate with Sign Installer.* 10. G/C shall coordinate with Sign Mfr. and ascertain electrical power req., exact location for the electrical power to terminate and the exact type of termination required. The G/C shall verify the existence of an electrical circuit to the sign or insure that a new circuit is established if no circuit is determined to exist.*

13669 TM Las Vegas E Charleston NV 33 - Proposed Elevations 4/10/2013 PROPOSED EXTERIOR CHANGES

REAR ELEVATION EXISTING CONDITION

REAR ELEVATION PROPOSED CHANGES SCOPE OF WORK 1. FOLLOW ALL NOTES WITH (*) ASTERISK ON PAGE ONE. 2. Prep/paint rear door and downspouts TM Blue.

13669 TM Las Vegas E Charleston NV 33 - Proposed Elevations 4/10/2013 PROPOSED EXTERIOR CHANGES

LEFT ELEVATION EXISTING CONDITION

LEFT ELEVATION PROPOSED CHANGES SCOPE OF WORK 1. FOLLOW ALL NOTES WITH (*) ASTERISK ON PAGE ONE. 2. No additional changes.

13669 TM Las Vegas E Charleston NV 33 - Proposed Elevations 4/10/2013 PROPOSED EXTERIOR CHANGES

RIGHT ELEVATION EXISTING CONDITION

RIGHT ELEVATION PROPOSED CHANGES SCOPE OF WORK 1. FOLLOW ALL NOTES WITH (*) ASTERISK ON PAGE ONE. 2. Remove all trash and construction debris from site.*

13669 TM Las Vegas E Charleston NV 33 - Proposed Elevations 4/10/2013