1050 INDIGO DRIVE , NV 89145 RARE SUMMERLIN INVESTMENT OPPORTUNITY SELLER MAY CONSIDER A CARRY BACK

Offered by:

Service You Deserve. People You Trust. Jarrad Katz, SIOR, CCIM Galit Kimerling 5960 South Jones Boulevard Executive Vice President I Principal Vice President Las Vegas, 89118 Lic#: BS.0145888 Lic#: S.0065773 T 702.388.1800 | F 702.388.1010 702.610.1002 323.244.1628 www.mdlgroup.com [email protected] [email protected] HIGHLIGHTS

INVESTMENT OVERVIEW ACQUISITION NARRATIVE LOCATION 1050 Indigo Drive, Las Vegas, NV 89145 This offering is a rare opportunity to acquire a quality office PARCEL NUMBER 137-368-110-17 asset in an A+ location. The property is fully occupied with sig- nificant upside going forward. Current rents are ±40% below INTERSECTION Indigo Drive & Charleston Boulevard market rents of like kind office properties within the immediate area. It would be incredibly difficult to replace this asset, due SQUARE FOOTAGE ±20,774 to an absence of available land for commercial development in The JGS Group, Douglas M. Edwards, P.C, Michael J. Mona, the sub-market. TENANTS Jr., Wiley Law LLC, Naylor & Braster, Envision PURCHASE PRICE $5,500,000 ($264.75 PSF) ACTUAL CAP RATE 6.14% PROFORMA CAP RATE 9.99% NOI $348,116.46 LEASE TYPE Full service gross on most leases RENTAL ESCALATIONS 3% on average YEAR BUILT 2004 LOT SIZE ±1.5 Acres HIGHLIGHTS

AREA DESCRIPTION

In 1952 Howard Hughes purchased a ±25,000 acre parcel in Southern Nevada to possibly relocate his California based airline operation. Hughes ended up not relocating after all. Fast forward to 1988 the Summerlin mas- ter-planned community commences. For ten consecutive years, 1997 to 2007, Summerlin has ranked #1 among master-planned communities na- tionwide. In 2002 Summerlin was named as Community of the Year by the Urban Land Institute. Today, in its 27th year of development, Sum- merlin continues to win awards and is nearing 100,000 residents. With ±6,000 gross acres left to develop the best of Summerlin is yet to come!

PROPERTY DESCRIPTION

The subject property is a two-story office building totaling ±20,774 square feet built in 2004. The building is currently demised into seven (7) suites. It is comprised of wood and steel construction with attractive stone accents. Situated on 1.5 acres or 65,340 square feet, the property is zoned Planned Community District (P-C) by Clark County, and is located on Indigo Drive and West Park Drive in the highly desirable Howard Hughes Plaza.

1050 Indigo Drive is situated within the Northwest Las Vegas office sub- market. The property is conveniently accessed from I-215 via Charleston Blvd. (1.1 miles) and at Town Center (2.4 miles). It is 1.5 miles from and Red Rock Resort. The property is surrounded by abundant walkable retail and restaurant amenities including Downtown Summerlin, the Vegas Golden Knights Practice Facility, and the : a Triple-A stadium that is cur- rently under construction. CLOSE AERIAL VEGAS VALLEY MAP

LOCATION HIGHLIGHTS: SITE • Centrally located with easy access to I-215 Freeway and Summerlin Parkway as well as The &

• The building is surrounded by restaurants and amenities OVERVIEW MAP SUMMERLIN MAP

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FORT APACHE ARBY Updated 06 27 FLOOR PLAN

FIRST FLOOR SF: ±10,325 SECOND FLOOR SF: ±10,449

Floor plan not to scale, for marketing purposes only. PROPERTY IMAGES

*Click here for YouTube virtual tour RENT ROLL

Additional Monthly Market rates Market rates Rent monthly rent ($2.75 PSF FSG) ($2.75 PSF Rate variance Lease Lease rentable SF monthly rent (janitorial) PSF Annual Rent Monthly FSG) Annually actual vs. market commencement Expiration Options to renew 110 The JGS Group 1,672 $3,448.00 $2.06 $41,376.00 $4,598.00 $55,176.00 ($13,800.00) 9/1/2015 8/31/2021 112 Douglas M. Edwards, P.C. 1,821 $3,676.81 $2.02 $44,121.72 $5,007.75 $60,093.00 ($15,971.28) 1/1/2017 12/31/2020 One (1) - 2-year options 115 Michael J. Mona, Jr. 1,112 $1,800.00 $1.62 $21,600.00 $3,058.00 $36,696.00 ($15,096.00) 8/15/2020 8/14/2021 120 Oronoz & Ericsson 3,153 $6,129.00 $1.94 $73,548.00 $8,670.75 $104,049.00 ($30,501.00) 3/1/2016 2/28/2022 option to extend for ninety (90) days 130/140 Envision 2,568 $4,100.00 $1.60 $49,200.00 $7,062.00 $84,744.00 ($35,544.00) 11/16/2019 11/15/2022 Right of first refusal on 1st floor auto renewal for 5-years unless notified by tenant 200 Naylor Braster 5,843 $11,255.09 $200.00 $1.93 $137,461.08 $16,068.25 $192,819.00 ($55,357.92) 11/1/2016 10/31/2021 30-days prior to lease expiration 200B Wiley Law L.L.C. 4,606 $8,500.00 $375.00 $1.85 $106,500.00 $12,666.50 $151,998.00 ($45,498.00) 8/1/2020 7/31/2023 20,775 $38,908.90 $1.86 $473,806.80 $57,131.25 $685,575.00 ($211,768.20)

ACTUAL: ASKING PRICE: $5,500,000.00 $264.74 Gross Square Footage: 20,775 Actual Asking CAP rate: 6.33% Annual Expenses: $102,000.00 Future CAP rate with Market rents: 9.99% Annual Expenses PSF: $4.91 Monthly Expenses PSF: $0.41

Gross Rent per rent roll: $473,806.80 PROFORMA: Gross Rent per rent roll PSF: $22.81 Gross Proforma Rent with market rates: $685,575.00 Gross Rent per rent roll PSF monthly: $1.90 Annual Expenses: ($102,000.00)

Vacancy factor: ($34,278.75) 5% Gross Rent Per Rent Roll: $473,806.80 NOI: $549,296.25 Annual Expenses: ($102,000.00) Vacancy factor: ($23,690.34) 5% NOI: $348,116.46 VEGAS OVERVIEW

ADVANTAGES OF DOING BUSINESS IN NEVADA LAS VEGAS KEY INDUSTRIES • 40 Million people visit Nevada each year and is the #1 for economic • Tourism, Gaming and Hospitality development programs in terms of job creation, retention and training • Aerospace & Defense • McCarran Airport is the nation’s 7th busiest airport • Heath & Medical Services • #1 for new business launches • Information Technology • Consistently one of the “Top 10” most business-friendly states • Manufacturing & Logistics • NO corporate or personal income tax • Mining • NO inventory tax • Natural Resource Technologies • NO franchise tax - Agriculture • NO unitary tax - Energy • NO special intangible tax - Water • Able and willing workforce in right-to-work-state *Source by www.diversifynevada.com • #2 for small business survival VEGAS OVERVIEW

DEMOGRAPHICS 2 MILE 5 MILES 10 MILES

2020 Population ±64,604 ±316,676 ±955,505

2020 Medium Household Income $85,904 $65,984 $58,633 VEGAS OVERVIEW

MSG SPHERE Work has begun on the massive, 18,000-seat MSG Sphere at The Venetian in Las Vegas. The new ven- ue is set to change live performance in Sin City as we know it, not to mention the famous skyline. This spherical structure will be the first of its kind. The MSG Sphere will feature fully programmable, high- tech video screens on the interior and exterior. Plus, top-notch sound capabilities featuring vibrations from a infrasound haptic floor system. The MSG Sphere facility is on pace to open in the 2021 fiscal year (July 1, 2020 - June 30, 2021).

LAS VEGAS STADIUM The Oakland Raiders received the NFL’s approval to move to Sin City for the 2020 NFL season. Las Vegas has proposed a new $1.9 billion stadium just to the west to the strip. The venue’s horse-shoe shape LAS VEGAS CONVENTION CENTER designed by Manica Architecture, would accommodate an audience Las Vegas Convention Center (2017-2024) – A $1.4-billion project that extends to the Strip of 65,000 spectators, 8,000 cars, tailgating amenities and mixed-use and will include 600,000 square feet of exhibit hall, outdoor exhibition space and a com- commercial facilities. Along with the economic benefits of in season plete renovation of the existing convention space. This expansion will allow for an overflow games, this venue would also allow Las Vegas to host the annual area for conventions to use while the remaining halls of the main convention center are Super Bowl - which would bring hundreds of millions of dollars in renovated. Thus, refreshing the beating heart of the . With 6 million plus tourism and revenue. convention attendees visiting us last year. VEGAS OVERVIEW

LAS VEGAS LIGHTS FC Las Vegas Lights FC is an American professional soccer team based in Las Vegas, Nevada. The team made its debut in the United Soccer League in 2018 and plays its home games at . The Lights are coached by Eric Wynalda and owned by Brett Lashbrook, who also serves as general man- ager. The Lights play their home matches at Cash- man Field, a stadium in Downtown Las Vegas,it has 9,334 permanent seats and additional standing room capacity.

LAS VEGAS AVIATORS formerly known as the Las Vegas 51s and Las Vegas Stars, are a team in the Pacific Coast League (PCL) and the Triple- A affiliate of the . They are located in Summerlin, Nevada.

LAS VEGAS GOLDEN KNIGHTS LAS VEGAS BALLPARK The Vegas Golden Knights are a professional ice hockey team based in the Las Vegas Ballpark is a baseball stadium in Summer- Las Vegas metropolitan area that competes in the National Hockey League lin, Nevada in the Las Vegas Valley. It is the home field (NHL). They are members of the Pacific Division of the league’s Western for the Las Vegas Aviators of the Triple-A Pacific Coast Conference, and began play in the 2017–18 NHL season. The team’s in- League. The stadium is owned by the Howard Hughes augural home game was played on October 10, 2017. The Golden Knights Corporation. Las Vegas Ballpark is located in Downtown said their colors steel grey, gold, red and black reflect the community and Summerlin near the intersection of South Pavilion Center the focus of the team. The grey represents strength and durability; Nevada Drive and Summerlin Center Drive next to City National is the largest producer of gold in the United States; the red is taken from the Arena and across the street from the Downtown Sum- Las Vegas skyline, desert and Red Rock canyons; and the black represents merlin shopping center. power and intensity. DISCLAIMER

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

This package contains selected information pertaining to the Property. It does not purport to be a representation of the state of affairs of the current owner, nor should it be construed to contain all or part of the information which prospective investors would deem necessary to evaluate the Property for purchase. Any financial projections and information provided are for general reference purposes only, are based on assumptions relating to the general economy, market condi- tions, competition and other factors beyond the control of the current owner and MDL Group. All projections, assumptions and other information provided are made herein are subject to material variation. MDL Group has not independently investigated the accuracy of the information within the package, as such informa- tion was obtained by the owner and/or public records. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers.

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

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

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

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

Jarrad Katz, SIOR, CCIM Executive Vice President I Principal Lic#: BS.0145888 702.610.1002 [email protected]

Galit Kimerling Vice President Lic#: S.0065773 323.244.1628 [email protected]

Service You Deserve. People You Trust. 5960 South Jones Boulevard, Las Vegas, Nevada 89118 T 702.388.1800 | F 702.388.1010 | www.mdlgroup.com

*The information herein was obtained from sources deemed reliable; however MDL Group makes no guarantees, warranties or representations as to the completeness of accuracy thereof.