For Sale Offering Memorandum

THE GRAMERCY 215 BELTWAY // 164,000 CPD DESERT CANYON APARTMENT/RETAIL BUSINESS PARK UNDER CONSTRUCTION

GAS STATION

W. RUSSELL RD. // 20,000 CPD

S. FORT APACHE RD. // 30,000 CPD

FOR SALE OFFERING MEMORANDUM

CHRIS RICHARDSON, CCIM JASON OTTER Director Director 702.954.4110 702.954.4109 [email protected] [email protected] CONFIDENTIALITY AGREEMENT

This Offering Memorandum contains select information pertaining to the business and affairs By acknowledging your receipt of this Offering Memorandum from LCRE, you agree: of 5752 S. Fort Apache Rd., Las Vegas, NV 89148. This Memorandum was prepared 1. The Offering Memorandum and its contents are confidential; based on information supplied by Seller and Broker. It contains selected information about 2. You will hold it and treat it in the strictest of confidence; and the Property and the real estate market, but does not contain all the information necessary 3. You will not, directly or indirectly, disclose or permit anyone else to disclose this to evaluate the acquisition of the Property. The financial projections contained herein (or Offering Memorandum or its contents in any fashion or manner detrimental to the in any other Confidential Information) are for general reference only. The projections are interest of the Seller. based on assumptions relating to the general economy and local competition, among other factors. Accordingly, actual Seller and LCRE expressly reserve the right, at their sole discretion, results may vary materially from such projections. Various to reject any and all expressions of interest or offers to purchase the documents have been summarized herein to facilitate Property and to terminate discussions with any person or entity reviewing your review; these summaries are not intended to be a this Offering Memorandum or making an offer to purchase the Property comprehensive statement of the terms or legal analysis of unless and until a written agreement for the purchase and sale of the such documents. Property has been fully executed and delivered.

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

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

1 EXECUTIVE SUMMARY 7 MAPS, AERIALS, AND PLANS 13 COMPARABLES 15 FINANCIAL OVERVIEW 19 MARKET OVERVIEW BROKERAGE CHRIS RICHARDSON, CCIM Director 702.954.4110 [email protected]

JASON OTTER Director 702.954.4109 [email protected] EXECUTIVE SUMMARY

COMPARABLES

1MAPS, AERIALS, AND PLANS

FINANCIAL OVERVIEW

MARKET OVERVIEW EXECUTIVE SUMMARY

PROPERTY OVERVIEW OFFERING DETAILS

LOGIC Commercial Real Estate is pleased to exclusively represent the ownership OFFERING PRICE: $6,850,000 in presenting a fee simple opportunity to purchase Gramercy Commons. The NOI: $479,607 property is a +/- 25,892 SF multi-tenant retail building with subterranean parking 7.00% and a parceled retail pad. CAP RATE: PROFORMA CAP RATE: 7.73% Gramercy Commons sits on Fort Apache Rd. next to Russell Rd. in the Southwest PRICE PER FOOT: $265 PSF submarket. The property is within close proximity to the 215 Beltway and has BUILDING SIZE: 25,892 SF prominent visibility on the Fort Apache corridor. Close to the subject property is the Gramercy mixed-use development, Southern Hills Hospital, IKEA, and other ACREAGE: 1.6 acres (inclusive of .32 acre pad) major developments. OCCUPANCY: 100% (not including Pad) ADDRESS: 5752 S. Fort Apache Rd., Las Vegas, NV 89148 The opposite corners at the intersection of Fort Apache Rd. and Russell Rd. are in the process of development with a multi-family development and potential APN: 163-32-110-006 (Retail Center) 163-31-110-007 (Retail Pad) grocery-anchored retail center. YEAR BUILT: 2007 Gramercy Commons presents a great opportunity for an investor in one of the TRAFFIC COUNTS: Russell Rd. // 20,000 CPD hottest submarkets in Las Vegas. The southwest submarket features some of the Fort Apache Rd. // 30,000 CPD lowest retail vacancy rates in the valley. Also, there are close to 3,000 new multi- PARKING: 142 (5.5 : 1,000) family units being developed within 3-miles of the subject site. NUMBER OF TENANTS: 9

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

INVESTMENT HIGHLIGHTS

HIGH DEMAND SUBMARKET: The southwest submarket has some of the highest demand for retail users and the lowest vacancies in the entire Las Vegas Valley.

PROMINENT LOCATION: Gramercy Commons sits on the highly trafficked Fort Apache corridor and has access to the CC 215 Beltway less than ¼ mile away. Combined traffic counts in excess of 50,000 CPD at the intersection of Fort Apache Rd. and Russell Rd.

PLANNED FUTURE DEVELOPMENT: With multiple new multi-family projects nearby as well as a potential grocery-anchored shopping center across the street, the property will enjoy increased densities and demand.

SUBTERRANEAN PARKING: One of the few properties in the Las Vegas valley to enjoy subterranean parking which adds to the overall parking stalls on the site.

RECENT RENOVATIONS: Rebranding of the center as well as new exterior paint scheme and reworking of the site plan add to more desirable property.

STABILIZED REVENUE STREAM WITH UPSIDE: Long term remaining on existing leases with ability to add value by increasing rents and potential pad (with separate APN) located on Fort Apache Rd.

ABOVE AVERAGE PARKING RATIO: 5.5:1000 well in excess of the standard for retail in the area can lend to an array of future tenants including medical office, restaurant, and development for the future pad.

FURNITURE GALLERY

Suite Square Footage: 2,640 SF Suite Square Footage: 1,500 SF Suite Square Footage: 5,908 SF Lease Expiration Date: 07/01/29 Lease Expiration Date: 02/28/26 Lease Expiration Date: 10/31/23 Number of Locations: 5 Number of Locations: 200+ (15 in Las Vegas MSA) Number of Locations: 2 Company Website: www.tonysmexicanfoodlv.com Company Website: www.hawaiianbarbecue.com

Tony’s Mexican Food has been at this location L&L Hawaiian BBQ is a franchised Hawaiian Island Furniture Gallery has been in operation for since 2008. The operator has four locations in Las style restaurant with 15 locations in Las Vegas. over 30 years. Gramercy Commons is their 2nd Vegas and one location in California. They have a This franchisee has multiple locations. location in the Las Vegas Valley. They were strong customer following across the Valley. attracted to the southwest area with the growth of the submarket as well as the nearby synergies of other furniture users.

KADEN’S NAILS

Suite Square Footage: 3,527 SF Suite Square Footage: 1,512 SF Suite Square Footage: 2,614 SF Lease Expiration Date: 07/31/28 Lease Expiration Date: 09/18/22 Lease Expiration Date: 12/31/24 Number of Locations: 80 Company Website: www.kadensnails.com Company Website: www.dontbebroke.com Company Website: www.ckokickboxing.com/las- vegas.html

CKO Kickboxing is a franchised business with Kaden’s Nails is a locally owned nail salon that A leader in the short term, pay day advance over 90 locations across the nation. This is the first enjoys 4.5 stars on Yelp. They report that business and check cashing business. Currently over 60 location in Las Vegas and they were attracted to is good at their location. locations and growing. Gramercy Commons based on the strong traffic and demographics for their use.

Suite Square Footage: 1,530 SF Suite Square Footage: 1,890 SF Suite Square Footage: 4,771 SF Lease Expiration Date: 11/30/21 Lease Expiration Date: 10/31/22 Lease Expiration Date: 03/31/24 Company Website: www.artformsalon.com Number of Locations: 2 Number of Locations: 2 Company Website: www.helioscigarlounge.com Company Website: www.tribevegas.com

Artform Salon is a salon that specializes in With 5/5 stars on Yelp, Helios offers a full line of Wholistic fitness and jiu jitsu studio with hair. They boast a “relaxed and unpretentious premium cigars and a premier cigar lounge. They customized meal plans, accountability coach, environment” for their guests offering the very pride themselves on their fantastic environment flexible training schedule, and self-defense best in cutting and coloring talent. for both returning and first-time clients. This classes is Helios 2nd location, with the first being in Riverside, CA.

MAPS, AERIALS, AND PLANS

7 COMPARABLES

FINANCIAL OVERVIEW

MARKET OVERVIEW OVERALL MAP - MAPS, AERIALS, AND PLANS

SUBJECT

DOWNTOWN SUMMERLIN Over 125 Retailers + Restaurants W. SAHARA AVE. // 35,000 CPD

THE LAKES

D P C 0 0 0,7 2 // .D R E H C A P A T R O F

W. DESERT INN RD. // 27,000 CPD

DESERT BREEZE PARK

SPRING VALLEY DEPARTMENT HIGH SCHOOL OF MOTOR VEHICLES

W. FLAMINGO RD. // 34,000 CPD

Map types and header titles are subject to change based on agent requirements

W. TROPICANA AVE. // 25,000 CPD

SPANISH TRAILS COUNTRY CLUB

THE GRAMERCY

W. RUSSELL RD. // 20,000 CPD

.D V L B S E N O J .S

D P C 0 0 0,2 3 // .R D O G N A R U D

D P C 0 0 0,0 4 // .D V L B W O B N IA R .S SUBJECT

Southern Hills Hospital W. SUNSET RD.

RHODES RANCH

THE SUMMIT AT SUMMERLIN

THE MESA AT SUMMERLIN

BISHOP GORMAN SIENA THE CLIFFS AT HIGH SCHOOL COMMUNITY SUMMERLIN VICTORIA FERTITTA UNION EDEN MIDDLE SCHOOL REGENCY AT APARTMENTS APARTMENTS SUMMERLIN +/- 338 UNITS +/- 276 UNITS

S. HUALAPAI WAY SUBJECT THE GRAMERCY PLANNED ALBERTSONS CENTER SOUTHERN HILLS HOSPITAL ENCANTO DEVELOPMENT +/- 709 DOCTORS/NURSES (120 SINGLE FAMILY HOMES) +/- 134 BEDS FUTURE NEW RESIDENTIAL APARTMENT/RETAIL NEW RESIDENTIAL UNDER CONSTRUCTION UNDER CONSTRUCTION SPECTRYM ASPIRE S. FORT APACHE RD. // 30,000 CPD APARTMENTS ELYSIAN WEST APARTMENTS +/- 252 UNITS APARTMENTS +/- 270 UNITS +/- 422 UNITS FUTURE RETAIL WALKER FURNITURE & PROPOSED HOTEL CORONADO DESERT CANYON BUSINESS PARK BUSINESS PARK FUTURE RETAIL W. TROPICANA AVE. W. SUNSET RD.

215 BELTWAY // 164,000 CPD

RIDGE HAVEN SINGLE SOUTHBEACH KB HOMES MESA BELLA FUTURE RETAIL SOUTHWEST FAMILY HOMES RESORT +/- 94 APARTMENTS MOUNTAIN’S EDGE +/- 220 UNITS SINGLE FAMILY HOMES HOSPITAL +/- 326 UNITS LEVEL 25 SOLANA +/- 130 BEDS APARTMENTS APARTMENTS +/- 204 UNITS +/- 168 UNITS FUTURE RETAIL APARTMENTS SPANISH TRAIL KB HOMES COUNTRY CLUB UNLV HARRY REID RESEARCH PARK

W. PATRICK LN. CPD 20,000 // RD. RUSSELL W. FLOOD CONTROL BASIN S. DURANGO DR. // 46,000 CPD

SANIS TRAIL CUNTRY CLUB

W. PATRICK LN. FLD CNTRL BASIN

B ES ESA BELLA 4 FUTURE RETAIL RIDGE AEN SINGLE SINGLE FAILY FAILY ES ES

LEEL 25 AARTENTS S. DURANGO DR. // 46,000 CPD NEW RESIDENTIAL 1 UNITS UNDER CNSTRUCTIN DESERT CANYN FUTURE SUTBEAC RESRT BUSINESS AR AARTENTS 220 UNITS

215 BELTWAY // 164,000 CPD ENCANT DEELENT 120 Singe Famiy omes

FUTURE AARTENTRETAIL TE GRAERCY

NEW RESIDENTIAL EDICAL AILIN SUBJECT UNDER CNSTRUCTIN SUTERN ALS TENITAL ALBERTSNS CENTER

S. FORT APACHE RD. // 30,000 CPD

W. RUSSELL RD. // 20,000 CPD

RUSSELL RD

NAP

NAP NAP

FURNITURE LL GALLERY

TNYS TRIBE FITNESS AWAIIAN BB AWAIIAN EICAN FD

SUITE TENANT SIZE C 100 TONY’S MEXICAN FOOD 2,640 SF ICBING AD 105 L&L HAWAIIAN BBQ 1,500 SF NAIL SALN 110 - 120 FURNITURE GALLERY 5,908 SF

FRT AACE RD FRT AACE YLN 125 TRIBE FITNESS 4,771 SF

ARTFR SALN 130 CKO KICKBOXING 3,527 SF 140 KADEN’S NAIL SALON 1,512 SF CIGAR LUNGE 145 DOLLAR LOAN CENTER 2,614 SF 150 ARTFORM SALON 1,530 SF 155 HELIOS CIGAR LOUNGE 1,890 SF

TE LDGE PAD AVAILABLE 0.32 AC NAP GARAGE ENTRANCE

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

MAPS, AERIALS, AND PLANS 13 COMPARABLES FINANCIAL OVERVIEW

MARKET OVERVIEW SOLD - COMPARABLES

NAME & ADDRESS

Hualapai Plaza 4280 S. Hualapai Way

Sale Price: $9,850,000 1 PSF: $370 Total SF: 26,657 SF CAP Rate: 6.80% Occupancy: 100% SIMMONS ST.

Rock Springs Plaza 5TH 1910-1936 Rock Springs Dr.

Sale Price: $6,900,000 2 PSF: $268 Total SF: 25,786 SF 4 CAP Rate: 6.70% 3 2 Occupancy: 90%

Summergate Centre 7664-7668 W. Lake Mead Blvd.

SUBJECT Sale Price: $4,250,000 3 PSF: $349 Total SF: 12,172 SF CAP Rate: 6.40% 6 Occupancy: 100%

Tech Center Retail 2400 N. Buffalo Dr.

1 Sale Price: $5,470,000 4 PSF: $383 Total SF: 14,296 SF CAP Rate: 6.84% Occupancy: 100% 5 Tierra Rainbow 6181 S. Rainbow Blvd.

Sale Price: $4,045,000 5 PSF: $318 Total SF: 12,697 SF 160 CAP Rate: 6.45% Occupancy: 100%

Stone Canyon 7293 W. Sahara Ave.

Sale Price: $4,450,000 6 PSF: $299 Total SF: 14,880 SF CAP Rate: 7.38% Occupancy: 100% This map is intended for general representation purposes only, may not be to exact scale or exact boundaries.

MAPS, AERIALS, AND PLANS

COMPARABLES 15 FINANCIAL OVERVIEW MARKET OVERVIEW RENT ROLL

% of Terms Rate Monthly Rate Other Lease Annual Proforma Proforma Suite Tenant Name Rentable SF End Date Escalations Total (Mo.) PSF/Mo. Rent Annualized Income Type NNN PSF/Mo. Annualized

100 Tony's Mexican Food 2,640 10.20% 120 07/01/29 $2.50 $6,600.00 $79,200.00 $420.00 NNN 3% $4.44

105 L&L Hawaiian BBQ 1,500 5.79% 120 02/28/26 $2.39 $3,585.00 $43,020.00 NNN 3% $4.44

110 - 120 Furniture For Less 5,908 22.82% 66 10/31/23 $1.35 $7,975.80 $95,709.60 NNN 0%/5%/3% $4.44

125 Tribe Fitness 4,771 18.43% 60 03/31/24 $1.00 $4,771.00 $479,607.12 NNN 3% $4.44

130 CKO Kickboxing 3,527 13.62% 123 07/31/28 $1.50 $5,290.50 $63,486.00 NNN 3% $4.44

140 Kaden's Nail Salon 1,512 5.84% 60 09/18/22 $1.41 $2,131.92 $25,583.04 NNN 3% $4.44

145 Dollar Loan Center 2,614 10.10% 60 12/31/24 $1.50 $3,921.00 $47,052.00 NNN 3% $4.44

150 Artform Salon 1,530 5.91% 61 11/30/21 $1.60 $2,434.77 $29,217.24 NNN 3% $4.44

155 Helios Cigar Lounge 1,890 7.30% 64 10/31/22 $1.65 $3,114.72 $37,376.64 NNN 3% $4.44

PAD Vacant $50,000.00

Total Monthly Total Annual

Total RSF 25,892 $39,932.26 $479,607.12 50,000.00

Total RSF OCCUPIED 25,892 100% Proforma Annual

Total RSF VACANT 0 0% $529,607.12

OPERATING EXPENSES Amount %

General Maintenance $1,800.00 1.87%

Disposal Service $6,664.00 6.93%

Electric $5,080.00 5.29%

Lighting Labor & Supplies $1,600.00 1.67%

Roof Repairs $2,250.00 2.34%

Insurance $8,500.00 8.85%

Management Fee $10,200.00 10.61%

Administrative $552.00 0.57%

Accounting $0.00 0.00%

Water $18,190.00 18.93%

Fire / Life / Safety $1,100.00 1.14%

Plumbing $1,000.00 1.04%

Porter $3,300.00 3.43%

Window Washing $700.00 0.73%

Pest Control $960.00 1.00%

Signage $300.00 0.31%

Sewer $7,284.00 7.58%

Landscaping $3,600.00 3.75%

Landscaping / Repair $3,000.00 3.12%

Parking Lot / Steam Clean $900.00 0.94%

Parking Lot / Sweeping $600.00 0.62%

Parking Lot Misc. $1,350.00 1.40%

Taxes - Property $17,164.00 17.86%

TOTAL EXPENSES $96,094.00 100%

Schedule of lease expirations per year

0.00% 0.00% 5.91% 13.14% 22.80% 18.42% 0.00% 5.79% 0.00% 13.62% 10.20%

50%

201 2020 2021 2022 2023 2024 2025 202 202 202 202

Analysis Year Ending Net Rentable SF # of Suites % of Total SF Year Dec. 31 Expiring

1 2019 0 0 0%

2 2020 0 0 0%

3 2021 1 1,530 5.91%

4 2022 2 3,402 13.14%

5 2023 1 5,908 22.80%

6 2024 1 4,771 18.42%

7 2025 0 0 0%

8 2026 1 1,500 5,79%

9 2027 0 0 0%

10 2028 1 3,527 13.62%

11 2029 1 2,640 10.20%

MAPS, AERIALS, AND PLANS

COMPARABLES

FINANCIAL OVERVIEW 19 MARKET OVERVIEW DEMOGRAPHICS

POPULATION 1-mile 3-mile 5-mile RADIUS MAP 2018 Total Population 21,386 122,120 310,350 2023 Projected Population 24,817 138,589 344,448 2010 Census Population 13,884 94,684 258,911 Annual Growth 2010 - 2018 5.38% 3.13% 2.22% Annual Growth 2018 - 2023 3.02% 2.56% 2.11%

INCOME 1-mile 3-mile 5-mile 2018 Average Household Income $82,458 $83,288 $82,031 2023 Projected Average Household Income $95,898 $95,643 $94,263 2018 Per Capita Income $30,209 $32,356 $32,158 2023 Per Capita Income $34,913 $36,850 $36,599

HOUSEHOLDS 1-mile 3-mile 5-mile 2018 Total Households 7,805 47,672 120,663 2023 Projected Households 9,004 53,718 132,851 2010 Census Households 5,092 37,744 103,190 2010-2018 Annual Rate 5.31% 2.87% 1.91% 2018-2023 Annual Rate 2.90% 2.42% 1.94%

HOUSING 1-mile 3-mile 5-mile 2018 Total Housing Units 8,429 53,129 136,625 2018 Owner Occupied Housing Units 3,472 25,890 64,394 2018 Renter Occupied Housing Units 4,333 21,782 56,268 2018 Vacant Housing Units 624 5,457 15,962 2023 Total Housing Units 9,523 59,000 149,476 2023 Owner Occupied Housing Units 4,239 30,373 73,935 2023 Renter Occupied Housing Units 4,765 23,345 58,916 2023 Vacant Housing Units 519 5,282 16,625

19 15 SKYE CANYON 14 Estimated Construction Value +/- $18 Billion Major Freeway Projects Major Office Projects ECV = $1,490,000,000 ECV = $164,500,000

Major Resort Corridor Projects Major Medical Projects 25b ECV = $14,837,000,000 ECV = $1,330,000,000 Major Retail Projects Educational Facilities ECV = $150,000,000 ECV = $80,000,000

Estimated Construction Value (ECV) * Estimated Construction Value currently not available 11 PROJECTS OVER $40MM 1 Resorts World Las Vegas - $4 billion 2 Wynn West - $3 billion 12 21 3 Las Vegas Raiders - $1.9 billion 8 4 25a 4 Fontainbleau Resort Las Vegas - $1.8 billion 6 16 1 5 Wynn – Paradise Park - $1.5 billion 2 24 6 LVCVA Convention Center Expansion - $1.5 billion 22 9 5 10 7 Las Vegas Extreme Sports Park - $800 million 8 Palace Station Expansion - $191 million 9 Palms Hotel & Casino Renovation - $146 million 10 *MSG Sphere Las Vegas - TBD 3 23 11 *Cashman Soccer Team Stadium - TBD I-15 Expansion “Project Neon” - $900 million 7 CANDENCE 12 18 13 I-11 Boulder City Bypass - $318 million 14 US-95 / CC 215 Interchange “Centennial Bowl” - $214 million 15 I-15 / US 93 Garnet Interchange - $58 million Las Vegas 51’s AAA Baseball Stadium - $150 million 25c 16 17 *St. Rose Costco Anchored Center - TBD 18 *Smith’s Anchored Center, Cadence - TBD 13 19 *Smith’s Anchored Center, Skye Canyon - TBD 20 *Las Vegas Raiders Practice Facility - TBD Downtown Summerlin Office Building - $119.5 million 17 21 22 Aristocrat Technologies Campus - $45 million HENDERSON AIRPORT 23 Union Village Medical Campus - $1.2 billion 20 24 Sunrise Hospital Expansion - $130 million 25 CSN Student Union Buildings - $80 million (3 campus locations)

Most Favorable Tax Most Policy Friendly Most Favorable Quality Climate in the West State for Entrepreneurs of Life in the Southwest Southern Nevada Nevada Southern Nevada Ranks #1 Ranks #1 Ranks #1 Source: Boyd Corporate Site Selection Source: SBE Council, Small Business Source: LVGEA Competitiveness Leading Indicator Poll Policy Index 2016, The Boyd Co., Inc. 2016 Survey, SBE Council

CLARK COUNTY NEVADA Southwest Quality of Life Graph

Southern Nevada 36.36%

Southern California 26.08%

Salt Lake City 9.92%

Phoenix 10.57%

Denver 17.07%

Clark County is a county located in the U.S. state of Nevada. As of the 2010 The Las Vegas Valley, a 600 sq mi (1,600 km2) basin, includes Las Vegas as well as census, the population was 1,951,269, with an estimated population of the other primary population center, the unincorporated community of Paradise. 2,000,759 in 2012. It is by far the most populous county in Nevada, accounting for nearly two-thirds of its residents. Las Vegas, Nevada’s most populous city, Clark County is today known as a major tourist destination, with 150,000 hotel has been the county seat since the county was established. rooms. The Las Vegas Strip, home to most of the hotel-casinos known to many around the world, is located not within the City of Las Vegas city limits, but in The county was formed by the Nevada Legislature by splitting off a portion of unincorporated Paradise. It is, however, located in the Las Vegas Valley. Lincoln County on February 5, 1909, and came into existence on July 1, 1909.

THE LAS VEGAS STRIP

2017 Clark County 2017 Las Vegas 2017 Hotel 2017 Average 2017 2017 Room Gaming Revenue Strip Revenue Occupancy Daily Room Rate Conventions Per Year Inventory $7.5B $4.8B 92.7% $130.56 15,166 148,532

Source: Las Vegas Convention and Visitors Authority

The Las Vegas Strip is a stretch of South Las Vegas Boulevard in Clark County, One of the most visible aspects of Las Vegas’ cityscape is its use of dramatic Nevada, known for its concentration of resort hotels and casinos. The Strip is architecture and lights. The rapidly evolving skyline and constant modernization of approximately 4.2 miles in length, located immediately south of the Las Vegas hotels, casinos, restaurants, residential high-rises, and entertainment offerings on city limits in the unincorporated towns of Paradise and Winchester. However, the Strip, have established it as one of the most popular destinations for tourists in the Strip is often referred to as being in Las Vegas. Fourteen of the world's 25 the United States, and the world. largest hotels by room count are on the Strip, with a total of over 62,000 rooms.

AIRPORTS

McCarran International Airport is the primary commercial airport serving the Las Vegas Valley, a major metropolitan area in the U.S. state of Nevada. McCarran received over 47,435,640 passengers in 2016, an increase over the previous year but still below pre-recession levels. It is the 26th busiest airport in the world by passenger traffic and the 8th busiest Lowest Corporate Travel Total Aircraft by aircraft movements. Cost in Western US Movements

It has undergone significant expansion since then and has 1st 8th Busiest employed various innovative technologies, such as common- use facilities. The airport consists of four runways and two passenger terminals: Terminal 1 and Terminal 3. Terminal 1 is composed of four concourses, namely the A, B, C, and D Gates; Terminal 3 contains the E Gates. A people mover system is in place between the pre-security area of Terminal 1 and the C and 2016 National 2016 Total En/Deplaned D Gates, as well as between the D Gates and Terminal 3. Passenger Traffic Air Passengers YTD

The airport has nonstop air service to destinations in North 9th Busiest 47.4 MM America, Europe, and Asia. It is an operating base for Allegiant Air, as well as a crew and maintenance base for Frontier Airlines,Southwest Airlines, and Spirit Airlines.

Source: Las Vegas Convention and Visitors Authority

SUMMARY TABLE OF TRAVEL PLANNING CHARACTERISTICS

2011 2012 2013 2014 2015 Proportion of visitors who traveled to Las Vegas by ground 56% 57% 58% 58% 57% TRANSPORTATION transportation (automobile/bus/RV) RTC Transit is a public transportation system providing bus service Proportion of visitors who traveled to Las Vegas by air 44% 43% 42% 42% 43% throughout Las Vegas, Henderson, North Las Vegas and other areas Source: Las Vegas Convention and Visitors Authority of the valley. A bus rapid-transit link in Las Vegas called the Strip & Downtown Express (previously ACE Gold Line) with limited stops and frequent service was launched in March 2010, and connects downtown Las Vegas, the Strip and the Las Vegas Convention Center.

Interstates 15, 515, and US 95 lead out of the city in four directions. Two major freeways – Interstate 15 and Interstate 515/U.S. Route 95 – cross in downtown Las Vegas. I-15 connects Las Vegas to Los Angeles, and heads northeast to and beyond Salt Lake City. I-515 goes southeast to Henderson, beyond which US 93 continues over the Mike O'Callaghan–Pat Tillman Memorial Bridge towards Phoenix, Arizona. US 95 connects the city to northwestern Nevada, including Carson City and Reno. US 93 splits from I-15 northeast of Las Vegas and goes north through the eastern part of the state, serving Ely and Wells. A partial beltway has been built, consisting of Interstate 215 on the south and Clark County 215 on the west and north.

2016 Average Daily Traffic: Average I-15 at Visitor Volume All major highways NV/CA Border 43MM 115,229 45,329

Source: Las Vegas Convention and Visitors Authority

CONVENTIONS 5 Largest Conventions Held in Las Vegas Annually

In 2016, over 6.3 million convention and trade show delegates traveled to Las Vegas, Consumer Electronics Show (CES) generating over $9 billion in non-gaming revenue. Las Vegas hosted more than 21,800 CES in 2016 runs from January 6-9 and will occupy 2.4 million meetings and conventions in 2016. SF by 3,600 companies.

National Finals Rodeo (NFR) Las Vegas has also been the No. 1 domestic convention location for two decades. The NFR is a very popular event, made possible through professional ranking comes from the Trade Show News Network (TSNN), which released its list of conference planners, brings more than 175,000 spectators from the top 250 trade shows in the United States. Las Vegas hosted 57 of the largest shows, all over the world to Las Vegas. more than the next two competitors combined. Men’s Apparel Guild of California (MAGIC) MAGIC picks February in Las Vegas to offer a preview the season’s fashion offerings to more than 85,000 attendees.

Convention Convention Center Annual Convention Conventions World of Concrete Location Expansion Budget Attendees Per Year The World of Concrete features more than 18,000 companies welcoming more than 60,000 attendees to town to showcase 1ST $1.4B 6.3MM 21,864 the newest in commercial construction innovations. National Association of Broadcasters (NAB) NAB is the world’s largest event covering filmed entertainment along with the development, management Source: Las Vegas Convention and Visitors Authority and delivery of content across all mediums. 2016 brought more than 100,000 attendees to Las Vegas.

Source: International School of Hospitality

LAS VEGAS PROFESSIONAL SPORTS TEAMS

The Las Vegas metropolitan area is home to many sports, most of which take place in the unincorporated communities around Las Vegas rather than in the city itself. The Las Vegas Valley has one major league professional team: the Vegas Golden Knights of the NHL who began play in 2017 as the region's first major pro team. The Oakland Raiders of the NFL will begin play in Las Vegas as the Las Vegas Raiders by 2020 and become the region's second major professional team. Las Vegas is also home to one minor league sports team: the Las Vegas 51s of Minor League Baseball.

The Las Vegas Raiders

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

The Las Vegas 51s

The Las Vegas 51s Triple-A minor league baseball team will get a new home in 2019, but not before representatives of the Las Vegas Convention and Visitors Authority board of directors debated for 1½ hours on whether the $80 million dedicated to stadium naming rights is money well-spent.

The Las Vegas Aces

The Las Vegas WNBA team are a professional basketball team based in Las Vegas, Nevada, playing in the Western Conference in the WNBA. The team was founded in Salt Lake City, Utah as the Utah Starzz before the league’s inaugural 1997 season began; then moved to San Antonio before the 2003 season and became the San Antonio Silver Stars, then simply the San Antonio Stars in 2014; then relocated to Las Vegas before the 2018 season. The Las Vegas Golden Knights

The Vegas Golden Knights are a professional ice hockey The Las Vegas Lights FC team that is based in the Las Vegas metropolitan area. The team began play in the 2017–18 NHL season, and is a Las Vegas Lights FC is a planned expansion member of the Pacific Division of the Western Conference team for the United Soccer League for the of the National Hockey League (NHL). The team is owned 2018 season. The team will play at Cashman by Black Knight Sports & Entertainment, a consortium led Field in downtown Las Vegas. The team name by Bill Foley, and plays its home games at T-Mobile Arena was selected by a user poll from a list of six on the Las Vegas Strip in Paradise, Nevada. candidates.

SUMMERLIN MASTER PLANNED COMMUNITY

Summerlin is an affluent master-planned community in the Las Vegas Valley of Nevada. It lies at the edge of the Spring Mountains and Red Rock Canyon, on the western periphery of Las Vegas, Nevada in unincorporated Clark County. The community occupies 22,500 acres and includes a variety of land uses, including: residential, commercial, recreational, educational, medical, open space, and cultural. At the 2010 census, Summerlin’s population was nearly 100,000, having risen from 59,000 in 2000.

“Best Places to Live in America” – Money Magazine

Summerlin lies within both an incorporated municipality and unincorporated area. The area north of Charleston Boulevard is within the city of Las Vegas, while property south of Charleston Boulevard is located within unincorporated Clark County. The county portion is generally a part of Summerlin South. The northern portion, east of the 215 beltway, is mostly Summerlin North. The area west of the 215 beltway is Summerlin West. Many individual neighborhoods also have their own subdivision homeowners associations.

With an average annual household income of $139,061, Summerlin is among the most affluent communities in Nevada. In 2014, Summerlin was named one of the “Best Places to Live in America” by Money Magazine.

Summerlin is developed in villages. Each village features different amenities and residential offerings. Summerlin Centre is the community’s most dynamic village under development as Summerlin’s urban core and includes Downtown Summerlin.

Source: Wikipedia

The Summit Club Nestled between Red Rock Canyon National Conservation Area and the Las Vegas Strip, The Summit is a private, luxury gated golf community located on 555 acres of scenic, secluded land within Summerlin, Las Vegas’ premier master planned community. The Summit is just 9 miles from the Las Vegas strip and is surrounded by world-class lifestyle and entertainment opportunities.

Red Rock Resort Red Rock Resort is a hotel and casino. It is owned and operated by Station Casinos on 70 acres located in Downtown Summerlin in the village of Summerlin Centre in Summerlin, Nevada. Located on Charleston Boulevard, at the interchange of Clark County 215 and some distance from the Las Vegas Strip, the resort is known as a locals casino. It is the flagship property of Station Casinos and the company’s Downtown Summerlin corporate headquarters is located on the Downtown Summerlin, one of the premier regional mixed- property. use development sites in the U.S., will be part of a planned urban core which will serve the entire Las Vegas Valley with Tivoli Village over 125 shops and restaurants in an open-air shopping Tivoli Village is a mixed-use development environment. The 106-acre, 1.6 million square foot mixed-use center consisting of retail and office space, development along the Clark County 215 Beltway is located located on 28.43 acres) of land at 410 South only 15 minutes from the Las Vegas Strip and Airport. When Rampart Boulevard in Las Vegas, Nevada, next complete, Downtown Summerlin will include retail, office to the Summerlin community. The property is and entertainment, designed to create a vibrant, walkable owned by Great Wash Park LLC. downtown in the heart of the affluent 22,500-acre master planned community. With over 100,000 residents today, the ever-increasing population in the Summerlin master planned community is expected to double to 200,000 when completed.

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