5035-5075 SOUTH DECATUR BOULEVARD , 89118

RARE AUTOMOTIVE RETAIL CENTER

AL TWAINY, CCIM JENNIFER LEHR, CCIM +1 702 836 3725 +1 702 836 3736 ±21,315 SF [email protected] [email protected] offering memorandum License # NV-BS. 0143951 License # NV-BS.24268 5035-5075 SOUTH DECATUR BOULEVARD LAS VEGAS, NEVADA 89118

CONFIDENTIALITY AGREEMENT

© 2019 Colliers International

This Confidential Offering Memorandum (the “Memorandum”) is being delivered exclusively by Colliers International (the “Agent”) to a party who may be interested in the acquisition of Northwest Corner of Boulder Highway and East Horizon Drive (the “Property”), described in this Memorandum. This is a private offering, made only by delivery of a copy of the Memorandum to the recipient (the “Recipient”). By accepting this Memorandum, the Recipient agrees to comply strictly with the terms and conditions of the Confidentiality Agreement previously executed and delivered to the Agent by the Recipient with respect to this Memorandum and all information contained herein, and to use this Memorandum only for the purpose of evaluating the offering made hereby.

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

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

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

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

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

5035 - 5075 S. DECATUR BOULEVARD - P. 2 TABLE OF CONTENTS

4 Property Overview

5 Property Details

6 Amentities Map

7 Rent Roll

8 Site Plan

9 Demographics

±21,315 SF offering memorandum EXECUTIVE SUMMARY

Colliers International is pleased to offer a rare opportunity to purchase a ±21,315 SF retail automotive plaza. The property offers exposure on South Decatur with easy access to the 215 & I 15. The property is located at 5035 - 5075 South Decatur Boulevard, Las Vegas Nevada within the Central West Las Vegas submarket.

INVESTMENT HIGHLIGHTS:

• Rare Automotive Retail Center

• 91.68% Occupancy

• Within 3.0 miles of the , McCarran International Airport and Raider’s Stadium

• Easy access to I-15 and 215 Beltway

• 323 feet of frontage along South Decatur Boulevard

• Traffic counts of over 80,000 cars per day

• 363,719 residents within a 5-mile radius with an average household income of $64,366 LOCATION DESCRIPTION:

The Property is located on South Decatur Boulevard just south of West Tropicana PROPERTY DESCRIPTION: Avenue, having the civic address of 5035-5075 South Decatur Boulevard, Las Vegas, This Automotive and Retail Center consists of three (3) single-story multi-tenant Nevada. The Property is located within 3 miles of the Las Vegas Strip, McCarran buildings built between 2000-2003 and totals ±21,315 square feet. The Property has International Airport, Raider’s Stadium, approximately 2.5 miles to the west of the on/off excellent street exposure on South Decatur Boulevard offering 323 feet of frontage ramps of I-15 at Tropicana Avenue and approximately 2.5 miles to the north of the on/ and traffic counts of over 80,000 cars per day. off ramps of the 215 Beltway. As of 2018, there were 363,719 residents within a 5-mile radius with an average household income of $64,366.

5035 - 5075 S. DECATUR BOULEVARD - P. 4 PROPERTY DESCRIPTION

PROPERTY DETAILS

Address 5035-5075 South Decatur Boulevard

City, State, Zip Code Las Vegas, Nevada 89118

163-25-502-028,163-25-502-030, APN(s) 163-25-502-031 SOUTH DECATUR BOULEVARD Building SF ±21,315

Acres ±2.41 Acres

Suite SF ±1,775 SF – ±7,430 SF

# of Stories 1

Year Built 2000-2003

Parking 4.42: 1,000 (110 stalls)

Zoning C-2 (Clark County)

Property Type Retail Automotive

Tenancy Multi

Asking Price $5,400,000

NOI $292,545

Occupancy Rate 91.68%

5035 - 5075 S. DECATUR BOULEVARD - P. 5 AMENITIES MAP

WEST TROPICANA AVENUE

International Market

O'Aces Bar Grill SOUTH DECATUR BOULEVARD SOUTH DECATUR

5035 - 5075 S. DECATUR BOULEVARD - P. 6 RENT ROLL

Tenant Suite Lease Lease Total Vacant Rented Base Mo. Base Rent Date of Rent Mo. Mo. Annual Annual Annual Name # Start Ends SF SF SF $/SF Base Rent Increases Increases CAM Total Rent Base Rent CAM Total

5035 South Decatur Boulevard

Olympic Auto 100 04/19/2011 04/30/2020 7,430 - 7,430 $0.99 $7,409 - - $2,823 $10,232 $88,908 $33,881 $122,789

Max Auto Care 101 03/10/2009 03/31/2021 2,860 - 2,860 $1.45 $4,135 $4,258 04/01/2020 $1,086 $5,221 $49,620 $13,032 $62,652

AA Auto Care - 08/26/2011 08/31/2019 3,500 - 3,500 $1.21 $4,235 - - $1,330 $5,555 $50,820 $15,960 $66,780

5055 South Decatur Boulevard

VACANT 100 - - 1,775 1,775 - $1.99 $0 - - $0 $0 $0 $0 $0

Good Life Auto 101 02/14/2018 01/31/2023 1,950 - 1,950 $ 1.39 $2,711 $2,793 02/01/2020 $741 $3,452 $32,526 $8,892 $41,418 Tint, LLC

5075 South Decatur Boulevard

Elite Auto Sale 102 10/01/2017 09/30/2022 3,800 - 3,800 $ 1.60 $6,080 $6,574 10/01/2019 $1,444 $7,524 $72,960 $17,328 $90,288

TOTALS 21,315 1,775 19,540 $24,569 $7,424 $31,984 $294,834 $89,093 $383,927

5035 - 5075 S. DECATUR BOULEVARD - P. 7 SITE PLAN

5035 S. DECATUR BLVD. SOUTH DECATUR BOULEVARD SOUTH DECATUR

5075 S. DECATUR BLVD. 5055 S. DECATUR BLVD.

TROPICANA AVENUE

5035 - 5075 S. DECATUR BOULEVARD - P. 8 DEMOGRAPHICS

POPULATION 1 MILE 3 MILES 5 MILES 2018 18,334 117,287 363,719 2023 Projection 19,252 124,627 393,049

HOUSEHOLD 1 MILE 3 MILES 5 MILES INCOMES 2018 Average $53,077 $60,234 $64,366 2023 Average $62,068 $69,820 $74,435

POPULATION BY 1 MILE 3 MILES 5 MILES RACE 2018 Caucasian 8,118 57,649 180,168 African American 3,573 14,013 42,742 Hispanic 4,702 43,354 120,587 Asian 3,092 16,153 56,510

5035 - 5075 S. DECATUR BOULEVARD - P. 9 APPENDIX

5035 - 5075 S. DECATUR BOULEVARD - P. 10 LAS VEGAS ECONOMIC TRENDS (Las Vegas Convention and Visitors Authority)

Statistic 2014 2015 2016 2017 2018

Visitor Volume 41,126,512 42,312,216 42,936,109 42,208,100 42,116,800 Las Vegas Gaming Revenue $9.5bn $9.6bn $9.7bn $10.8bn $10.25bn

Room Occupancy 86.8% 87.7 % 89.1% 88.6% 88.2% Area Overview

Average Daily Room Rates $116.73 $120.67 $125.96 $129.05 $128.85 Clark County, the most populous of Nevada’s 17 counties, is home to more Convention Delegates 5,169,054 5,761,366 6,310,616 7, 2 59,10 0 6,501,800 than 2.3 million residents, about 75.8%

Total En/Deplaned of the state’s population. The estimated 42,878,346 45,389,074 47,43 5,640 48,500,194 49,716,584 Passengers median household income is approximately

Room Inventory 150,126 149,612 149,339 147, 26 8 149,158 $57,189. The city of Las Vegas sits at the heart of Clark County and is internationally renowned as the world capital of entertainment. Las Vegas’ gaming, dining, VISITOR VOLUME VS. GAMING REVENUE shopping and business conventions are major attractions for national and 44,000,000 $10,400,000,000 international visitors. Las Vegas has 43,000,000 $10,200,000,000 approximately 149,158 rooms.

$10,000,000,000 42,000,000

$9,800, 000,000 41, 000,000 $9,600, 000,000 40,000,000 $9,400,000,000 Over 42.1 million 39,000,000 people visited Las Vegas in 2018. $9,200,000,000

38,000,000 $9,000,000,000

37,000,000 $8,800,000,000

36,000,000 $8,600,000,000 2011 2012 2013 2014 2015 2016 2017 2018

Vi sitor V olume Gaming Reve nue

COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 2 Las Vegas Employment Overview

As of 2019, Las Vegas unemployment stands at 4.7% down from 5.41% in January 2018. Tourism is the largest job sector in Las Vegas, representing 24.8% of the market, but professional and business services and retail trade have a significant impact as well, representing 14.0% and 10.3% of the market, respectively.

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

COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 3 Las Vegas Highlights

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

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

Steady Growth MSG Sphere A revolutionary new 18,000-seat venue for The University continues to grow with a concerts, sports and live entertainment that total student headcount of 30,457 (2018) will be completed in 2020.

COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 4 Las Vegas #1 Trade Show Destination for 25 consecutive years -Trade Show News Network

#3 and #9 Largest Convention Centers in the U.S. are Located in Las Vegas Convention Centers While Las Vegas has historically been known as a gaming destination, the city’s diverse non-gaming allure continues to strengthen and has far surpassed gambling demand. 70,700 jobs and generates One such demand driver is the unparalleled convention and meeting space capacity more than $11.1 billion in available throughout the city. In 2018, Las Vegas held over 21,000 conventions and hosted over 6.5 million convention delegates. economic impact. The Las Vegas M.I.C.E . Las Vegas also hosted 3 of the top 10 and 6 of the top fifteen largest (meetings, incentives, conferences, and events) sector conventions/trade shows held in the U.S.

Las Vegas visitation numbers hit a new peak of 42.9M visitors in 2016, a 10% increase over its pre-recession peak.

There was a 17.8 increase in International visitation from 2013-2015. McCarran International Airport has benefited from the increased visitation, making it the No. 30 busiest airport in the world in 2018.

COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 5 Developments in the

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

COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 6 Developments in the Las Vegas Valley This popular destination is the 28th largest Metropolitan Statistical Area in the United States with over 2.3 million residents. With its strong economic recovery, Las Vegas has about $15 billion in construction projects that are planned, proposed or under construction. The following pages include a summary of these projects.

400,000 SF RESORTS WORLD THE DREW LAS VEGAS CONVENTION CENTER $4 Billion estimated cost $1.2 Billion Renovation CONSTRUCTION LAS VEGAS Broke ground May of 2015. Upon their Witkoff and Also restoring the 18-hole Tom CONVENTION CENTER 2021 completion date, this $4 billion have announced a partnership to open Fazio-designed golf course EXPANSION Asian-themed resort will include 3,400 the former Fontainebleau as The Drew hotel rooms and will consist of 175,000 Las Vegas in 2022. The resort is Ltd. is moving forward $2.3 Billion estimated cost square feet of gaming. It’s estimated estimated to include $1.2 billion in that there will be 3,500 slot machines renovation fees in addition to the with its 400,000 SF Convention and table games. Genting BHD, $600 million price tag for the Center construction. The convention The Las Vegas Convention and Visitors Southeast Asia’s largest casino property. The property will contain center is under construction just Authority (“LVCVA”) has a planned operator, is developing this property in 3,780 rooms and over 500,000 SF of north of Sands Avenue and east of the expansion and renovation project multiple phases. The first phase is convention and meeting space. In Wynn Las Vegas tower. They’re also intended to make the Las Vegas expected to be completed in 2021. addition to The Drew Hotel, the resort restoring the 18-hole Golf Course. “We Convention Center the best meeting Once fully finished, there will be three will also house from two actually went back and re-engaged and convention facility in the World. towers totaling the room count to Marriott brands – EDITION and JW Tom Fazio, who was the original The $2.3 billion project, named the Las 3,400. will Marriott, making it the first JW designer of our golf course to come in Vegas Global Business District, is the help the Las Vegas employment market Marriott to open on the Las Vegas and take a look at the couple holes largest economic development by employing 13,000 direct and indirect Strip. The project will create 5,000 that were disrupted by this initiative the LVCVA has undertaken jobs. It will also contribute greatly to construction jobs and 6,000 jobs 400,000-square-foot convention since the Las Vegas Convention the Las Vegas economy which is upon opening. center and see if we can design a new Center was originally built in the late projected to generate $155 million in 18-hole golf course connected to 1950s. The expansion project is annual tax revenue. Wynn and Encore and have that back expected to lead to an additional in back in action before our 480,000 new attendees as current convention center opens.” conventions grow and through attracting an estimated 20 new trade shows and conventions. COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 7 Developments in the Las Vegas valley

Construction has begun on MSG Sphere Las Vegas with an estimated completion in early 2021

22,000-SEAT MSG SPHERE LAS VEGAS 360 feet tall and just off the McCarran International Airport flight pattern

The facility, to be built on a 63-acre lot east of the Sands Expo Center, The Venetian and the Palazzo, will be connected to the convention center by a pedestrian bridge. The 400,000-square-foot facility will be built on an open-air storage lot at Sands Avenue between Koval Lane and Manhattan Street. COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 8 Developments in the Las Vegas Valley This popular destination is the 28th largest Metropolitan Statistical Area in the United States with over 2.3 million residents. With its strong economic recovery, Las Vegas has about $15 billion in construction projects that are planned, proposed or under construction. The following pages include a summary of these projects.

UNION VILLAGE LAS VEGAS MEDICAL DISTRICT $1.6 Billion estimated cost & UNLV MEDICAL LAS VEGAS PROJECT NEON Union Village is the first Integrated SCHOOL Health Village in the world and is listed ALL NET ARENA $900 Million estimated cost as the “largest healthcare building $3.6 Billion estimated cost project in the United States,” $2.7 Billion estimated cost Project Neon is the largest public according to Health Facilities Manage- works project in Nevada history. The Las Vegas Medical District was ment. This +/-$1.6 billion project is The All Net Arena’s site is located on Costing $900 million to complete, initially concieved in 2002 in order to located at U.S. 95 and Galleria Drive in the north end of the Las Vegas Strip this project will widen 3.7 miles of created a cohesive area for medical Henderson, Nevada. Sitting on where the former Wet ‘n’ Wild site Interstate 15 between Sahara Avenue education and healthcare that was 228-acres, this mixed-use healthcare was once located (just south of the and the “Spaghetti Bowl” interchange central to the Las Vegas Valley. It is complex is projected to create more SLS Resort). Construction is in . This is known currently undergoing a $3.6 billion than 17,000 direct, indirect and underway on this $2.7 billion project for being the busiest stretch of expansion which is inclusive of a UNLV construction jobs. Once fully complete and will consist of 22,000 seat highway in Nevada with 300,000 Medical School. This district is in 2022, it is expected to attract vehicles per day (one-tenth of the expected to bring in $181 million in arena, 240,000 SF of convention 15,000 to 30,000 people a day. state population). Currently, this Government revenue, as well as 24,182 space, two hotel towers, a movie Henderson Hospital opened fall of corridor has approximately 25,000 jobs by 2030. theatre and a Victory Plaza 2016 and is located inside the Union lane changes in an hour and it’s been Village development. Costing $168 shopping/dining district. predicted that traffic will double million to construct, this local along this stretch by 2035. Project acute-care hospital is part of the Neon is estimated to be completed in Valley Health System. late 2019.

COLLIERS INTERNATIONAL – LAS VEGAS MARKET OVERVIEW 9 offering memorandum 5035-5075 SOUTH DECATUR BOULEVARD LAS VEGAS, NEVADA 89118 ±21,315 SF

EXCLUSIVE LISTING AGENTS

AL TWAINY, CCIM JENNIFER LEHR, CCIM +1 702 836 3725 +1 702 836 3736 [email protected] [email protected] License # NV-BS. 0143951 License # NV-BS.24268