The Crown Jewel of Chinatown EXECUTIVE SUMMARY

MAPS, AERIALS & PLANS

MARKET OVERVIEW

CONTACT

The Crown Jewel of Las Vegas Chinatown

PROPERTY OVERVIEW

What makes Chinatown one of the most culturally rich areas in the ?

From the amazing cuisine offered, to the exciting nightlife, fascinating shopping centers, and modern luxury residential offerings, the Chinatown corridor has evolved from the best-kept secret of Sin-City to a burgeoning lifestyle epicenter just a mile west from the !

In the heart of this three-mile stretch is the Southwest Gas Spring Mountain Campus. The Crown Jewel of Chinatown currently consists of three (3) well- maintained office buildings totaling +/-214,650 SF situated on 16.9 contiguous acres of land.

This is the only Corporate Campus available for sale in Las Vegas of this size. It provides ample space for a dynamic workforce, covered and uncovered parking, lush and mature landscaping, and a newly installed Access Control system to keep the asset secure.

To a visionary developer, this site is a canvas to be reimagined, redesigned, and redeveloped.

The possibilities are endless. The Crown Jewel of Las Vegas Chinatown The Crown Jewel of Las Vegas Chinatown

INVESTMENT HIGHLIGHTS • Unique and rare opportunity to purchase 16.9 contiguous acres of land in the heart of Las Vegas’ Chinatown

• Southwest Gas Spring Mountain Campus, consisting of 3 well-maintained office buildings and one vacant pad, is noted as The Crown Jewel of Las Vegas Chinatown

• The only corporate campus available for sale in Las Vegas of this size of 214,650 SF

• Value add with 16.9 contiguous acres of land with the ability to be reimagined, redesigned and redeveloped

• Multiple points of ingress and egress on Spring Mountain Road, Lindell Road, and Edmond Street

• Las Vegas Chinatown is a major thoroughfare running east to west along Spring Mountain Rd.

• Chinatown, a 3-mile district of modern luxury housing, distinct restaurants and retail amenities that have been developed over the past two decades, is located one (1) mile west of the Las Vegas Strip

• Site is conveniently located to I-15 (1.7 miles), the Las Vegas Strip (2.4 miles), the Las Vegas Convention Center (4.2 miles), McCarran International Airport (5.6 miles) and affluent Summerlin master-planned community (5.5 miles)

• Spring Mountain Road sees +/- 42,000 vehicles per day

• Rare Redevelopment site

• Seller will lease back through Q2 2022 The Crown Jewel of Las Vegas Chinatown The Crown Jewel of Las Vegas Chinatown

OFFERING PRICE: Best Offer

APPRAISED VALUE: $37 Million (Completed Jan '20)

TERMS: Cash to Seller

JURISDICTION: Clark County District F

ZONING: C-1 (Local Business District)

APN: 136-13-601-001, 002, 003, 004

ACERAGE: 16.9 acres (includes 1.98-acre pad site)

PARKING: 609 Total (317 Covered)

TRAFFIC COUNTS: +/- 42,000 CPD on Spring Mountain Rd.

IMPROVEMENTS: BLDG A | +/- 58,375 SF BUILT 1973 | SINGLE-STORY BLDG B | +/- 81,075 SF BUILT 1984 | THREE-STORY

BLDG C | +/- 75,200 SF BUILT 1988 | THREE-STORY The Crown Jewel of Las Vegas Chinatown

The Crown Jewel of Las Vegas Chinatown The Crown Jewel of Las Vegas Chinatown The Crown Jewel of Las Vegas Chinatown The Crown Jewel of Las Vegas Chinatown The Crown Jewel of Las Vegas Chinatown The Crown Jewel of Las Vegas Chinatown

PAD BUILDING C +/- 1.98 Acres +/- 75,200 SF BUILDING A +/- 58,375 SF

BUILDING B +/- 80,075 SF The Crown Jewel of Las Vegas Chinatown

BUILDING A +/- 58,375 SF

MAIN ENTRANCE

LOBBY

CONNECTS TO BUILDING B The Crown Jewel of Las Vegas Chinatown

CONNECTS TO BUILDING A BUILDING B +/- 80,075 SF

2ND FLOOR PLAZA LEVEL

ENTRY LEVEL The Crown Jewel of Las Vegas Chinatown

BUILDING C +/- 75,200 SF ENTRANCE

ENTRY LEVEL

2ND FLOOR

PLAZA LEVEL The Crown Jewel of Las Vegas Chinatown

Two central plants with boilers, cooling towers and associated chillers

Two Central Plants were upgraded in 2006 and in cooler weather, one central plant is capable to handle all 3 buildings

Backup generators, power redundancy and UPS networks

Recent significant capital upgrades to facilities, HVAC controls & lighting (operated with Building Management System) infrastructure as well as building aesthetics

Roofing system was also replaced for all 3 buildings

Parking lot was repaved in 2016

Radio Tower on site for Wireless and Microwave communication

State of the art Access Control system installed in 2019

Property has interior and exterior surveillance system

All 3 buildings have Fire Alarm and Fire Sprinkler system

2 separate water meters from Valley Water District

3 separate power meters from NV Energy

The Crown Jewel of Las Vegas Chinatown

THE CHINATOWN CORRIDOR

Las Vegas' Chinatown is a culturally rich community just 1 mile west of the famous Las Vegas Strip. This not-so-hidden gem is situated along Spring Mountain Road and runs 3 miles from Valley View Boulevard to Rainbow Boulevard. This trendy corridor delivers amazing cuisines, exciting nightlife, unique boutiques, and modern luxury residential offerings.

The Las Vegas Chinatown Corridor started with just one mall, The Chinatown Plaza, at 4205 Spring Mountain. It was created by Taiwanese-American developer Chen Chih-Cheng (James), with its grand opening in February of 1995. Now, there are more than 100 restaurants packed in or around Spring Mountain Road, from street-food inspired treats to five-star meals prepared by critically acclaimed chefs. The picturesque skyline of the Las Vegas Strip serves as a backdrop to the east, and the serene mountains of Red Rock provide scenery to the west for this thriving stretch of Chinatown.

Las Vegas' Chinatown is also home to the respected , and The Great Wall Bookstore, the first and only Chinese bookstore in the state of . With nearly 42,000 vehicles traveling along Spring Mountain Road per day, the Chinatown Corridor continues to flourish with active development projects! The Crown Jewel of Las Vegas Chinatown

DINING AND SHOPPING

Shopping and dining in Las Vegas' Chinatown or its other known moniker, "Spring Mountain," isn't reminiscent of the experience you'd expect. The Chinatown Corridor doesn't boast blocks and blocks of fake luxury goods or rows of tables with fresh fish and produce lining the alleyways. What you will find, however, is one of the nation's largest selections of Asian supermarkets, a variety of unique shops, and numerous restaurants that take your taste buds across Asia and beyond.

Chinatown is at the center of the Las Vegas food scene. It is home to about 150 restaurants, ranging from very traditional to experimental. You can find mouth-watering meals across a variety of cuisines, from Chinese and Korean, to even French or Spanish.

Visitors can browse through imported specialty foods, traditional Chinese medicines and herbs, coveted Korean beauty products, and the latest streetwear apparel from local trendy boutiques. The recent addition of the cannabis dispensary, Cultivate is also gaining much attention and adds a new depth to the shopping experience. The Crown Jewel of Las Vegas Chinatown

LIVING IN CHINATOWN

Luxury apartment buildings are slowly occupying the Las Vegas Chinatown region as developers discover that this diverse corridor is one of the hottest destinations off of the Las Vegas Strip. Chinatown offers an exquisite blend of art, culture, music, distinguished luxury living, and extraordinary activities. These luxury apartments are receiving much attention from young professionals and Vegas natives that crave the feeling of a big city without the big city rent prices.

The recently constructed Green Leaf Lotus complex, developed by Jonathan Fore, is a 295-unit luxury apartment complex that offers its residents resort-style amenities, lush panoramic city views, and easy access to the Chinatown District and the Las Vegas Strip.

The addition of the and the relocation of the Las Vegas Raiders has also created a buzz in the city of Las Vegas, helping make room for Fore's newest development, The Pearl, a 170-unit luxury complex that will sit opposite of The Lotus, set to be completed in summer 2022. The Crown Jewel of Las Vegas Chinatown

CURRENT DEVELOPMENTS

The Las Vegas Chinatown Corridor began as a single plaza on Spring Mountain in the early ‘90’s. There have been dozens of new developments and redevelopments since. The three most notable recent developments include modern luxury residential, dynamic dining, shopping and professional offices.

Shanghai Plaza Las Vegas built in 2019, is a +/- 68,000 square foot mixed use complex offers upscale shopping, entertainment, executive offices, culture, and art activities. The project is situated on 3.14 acres centrally located on Spring Mountain and Arville. Rental rates range from $3.50 - $4.50 NNN.

Green Leaf Lotus Apartments features a DJ booth, yoga and massage rooms, virtual-reality sports, and other amenities. The 295-unit complex is situated on 6.91 acres and includes +/- 8,969 square feet of retail. The developer successfully sold Lotus last fall 2018, after tenants started moving in, for nearly $77 million or $260,000 per unit. At the time it was double the market average.

Golden Spring Plaza delivered units the 4th quarter of 2019. This +/- 33,000 square foot plaza combines retail spaces, professional office, with restaurant spaces and pads. The project is situated on 2.76 acres on Spring Mountain and Duneville. Rental rates range from $3.00 - $4.00 NNN. The Crown Jewel of Las Vegas Chinatown

LAS VEGAS OVERVIEW GAMING & TOURISM

The Southern Region of Nevada includes the cities of Las With the star power of Las Vegas and the diversity of natural Vegas, Henderson, North Las Vegas, Mesquite, Boulder City, settings, Hospitality and Tourism is the state’s iconic and the unincorporated parts of Clark County. Over 2 million consumption-oriented industry and a major economic engine people live in the metropolitan area, making it, by far, the that creates tens of thousands of jobs for Nevadans. largest population center in Nevada. Though the Las Vegas metropolitan area is known primarily for tourism, our economy Given its leadership, Nevada is focused on leveraging its is diverse and employs many people in the healthcare, intellectual capital in hospitality, tourism and related leisure defense, IT and manufacturing sectors. services to diversify the traditionally service-oriented industry into higher-value and innovative activities that would create Las Vegas is one of the most famous tourist destinations in the higher-skill and higher-paying jobs, expand the state’s world, but in recent years it has also become one of the top exports, and even open up new opportunities for IT-based business destinations in the world. Four Fortune 500 companies activities. are headquartered in Las Vegas, and many more global companies do business in Southern Nevada. Over six million people a year come to Las Vegas for conventions. Those six million people represent nearly all of the Fortune 500, and thousands of other global companies. Because of conventions, Las Vegas has become a global marketplace, where deals get made and ideas are born. The Crown Jewel of Las Vegas Chinatown

MSG SPHERE Work has begun on the massive, 18,000-seat MSG Sphere at The Venetian in Las Vegas. The new venue 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 had been scheduled to open in 2021, but due to a disruption in its supply chain construction has been suspended and the project’s new opening date has yet to be rescheduled. The Oakland Raiders received the NFL’s approval to move to Sin City for the 2020 NFL season. The $1.8 billion stadium is located just to the west of the strip and is scheduled to open in the summer of 2020. The venue’s horse-shoe shape designed by Manica Architecture, would accommodate an audience of 65,000 spectators, 8,000 cars, tailgating amenities and mixed-use commercial facilities. Along with the economic benefits of NFL games, the venue will also be used for UNLV football, concerts, soccer, and allow Las Vegas to host the Super Bowl, which would bring hundreds of millions of dollars in tourism and revenue.

LAS VEGAS CONVENTION CENTER EXPANSION Las Vegas Convention Center (2017-2024) – A $1.4-billion project that extends to the Strip and will include 600,000 square feet of exhibit hall, outdoor exhibition space and a complete renovation of the existing convention space. This expansion will allow for an overflow area for conventions to use while the remaining halls of the main convention center are renovated. Thus, refreshing the beating heart of the Las Vegas valley, with 6 million plus convention attendees visiting last year.

*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. The Crown Jewel of Las Vegas Chinatown

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 manager. The Lights play their home matches at Cashman Field, a stadium in ,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 Minor League Baseball team in the Pacific Coast League (PCL) and the Triple-A affiliate of the Oakland Athletics. They are located in Summerlin, Nevada.

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

*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. The Crown Jewel of Las Vegas Chinatown

ADVANTAGES OF DOING BUSINESS IN NEVADA LAS VEGAS KEY INDUSTRIES

• More than 56 million people visit Nevada each year • Aerospace & Defense • McCarran Airport is in the top 10 of U.S. airports • Health • Low-cost startup, regulatory, licensing and annual fees • 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 • Tourism & Gaming • Competitive utility rates for commercial operations *Source by www.diversifynevada.com The Crown Jewel of Las Vegas Chinatown

DEMOGRAPHICS

SUMMARY 1-Mile 3-Miles 5-Miles

Population 29,022 164,970 425,687

Households 11,661 65,784 161,181

Median Age 39.3 39.2 38.3

Average Household Size 2.49 2.49 2.52

TRAFFIC COUNT

Average Daily Traffic Volume +/- 42,000 +/- 145,000 +/- 153,000 The Crown Jewel of Las Vegas Chinatown

THE CROWN JEWEL OF CHINATOWN - CONFIDENTIALITY AGREEMENT This Offering Memorandum contains select information pertaining to the business and affairs of 5241 W. Spring Mountain Road. This Memorandum was prepared based on information supplied by Seller and Broker. It contains selected information about the Property and the real estate market, but does not contain all the information necessary to evaluate the acquisition of the Property. The financial projections contained herein (or in any other Confidential Information) are for general reference only. The projections are based on assumptions relating to the general economy and local competition, among other factors. Accordingly, actual results may vary materially from such projections. Various documents have been summarized herein to facilitate your review; these summaries are not intended to be a comprehensive statement of the terms or legal analysis of such documents.

The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or MDL Group. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Seller, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. While the information contained in the Memorandum and any other Confidential Information is 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 prospective purchaser must make its own independent investigations, projections, and conclusions regarding the acquisition of the Property without reliance on this Memorandum or any other Confidential Information. Although additional confidential information which may include engineering, environmental or other reports may be provided to qualified parties as marketing proceeds, prospective purchasers should seek advice from their own attorneys, accountants, engineers, environmental and other experts. By acknowledging your receipt of this Offering Memorandum from MDL Group, you agree: 1) The Offering Memorandum and its contents are confidential; 2) You will hold it and treat it in the strictest of confidence; and 3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.

Seller and MDL Group expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and/or until a written agreement for the purchase and sale of the Property has been fully executed and delivered. A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against the Seller or MDL Group or any of their affiliates or any of their respective officers, directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date of this Offering Memorandum. MDL Group has a policy of proactive broker cooperation with the investment brokerage community. If applicable, a cooperating broker fee of the sales price shall be paid at closing to the cooperating broker that procures and represents the buyer that acquires this property. If applicable, cooperation does not include brokers that represent themselves as Principals or broker’s whose member of his immediate family is participating in the purchase of the property. No broker will be recognized on a prospect that has previously contacted or been contacted by the Seller or the Seller’s representatives.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT A MDL GROUP AGENT FOR MORE DETAILS. The Crown Jewel of Las Vegas Chinatown

Hayim Mizrachi, CCIM President | Principal [email protected] 702.941.7376 NV Lic #B.0143643.CORP

Ryan Martin, SIOR, CCIM Senior Vice President [email protected] 702.941.7382 Service You Deserve. People You Trust. NV Lic #BS.0048284 5960 South Jones Boulevard Tonya Gottesman Las Vegas, Nevada 89118 Senior Associate T 702.388.1800 | F 702.388.1010 [email protected] www.mdlgroup.com 310.612.3592 NV Lic #S.0189043

Michael Greene Associate [email protected] 702.941.7395 NV Lic #S.0186326

Luke Ramous Associate [email protected] 702.941.7372 NV Lic #S.0188531 *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.