Brand New 6 Year Offering Highlights Anchor TenantCRAIG Extension VALLEY PLAZA - ANCHORED RETAIL CENTER VALUE-ADD OPPORTUNITY - 85% OCCUPIED - BELOW MARKET RENTS 4116 - 4280 W. Craig Road, North , 89032

CommerialSun Real Estate, In. 5 | Offering Memorandum Craig Valley Plaza Investment Highlights

THE OFFERING

Sun Commercial Real Estate, Inc. is pleased to offer an exceptional opportunity to purchase Craig Valley Plaza, a neighborhood shopping center located at 4116-4280 West Craig Road, North Las Vegas, Nevada. The property is anchored by Opportunity Village, who just agreed to extend their term by six years and is currently 84.80% occupied with a strong mix of regional and local tenants. This property is being offered below replacement cost.

INVESTMENT HIGHLIGHTS

• Brand New 6 Year Anchor Tenant Extension – Opportunity Village just extended their term for Six (6) years - Pending LOI • Lease up Vacancy & Increase Rents – Only 85% Occupied and Sub-Market Rents have Increased 32% in 2017 • Limited Near-term Roll – 90% of the leased square footage doesn’t expires until after mid-2020 • Below Replacement Cost – Price per square foot is well below replacement cost • Long Term Seasoned Tenant Base – Denny’s since 2000, Money Tree since 2000, Dr. Brian Fife since 2001, Precious Dental since 2003, Cool Cuts since 2003, Meadows Eye Care since 2010, Lino’s Pizza since 2010 • Strong Demographics – 156,860 residences within a 3-mile radius and average household incomes of more than $63,000 • Offered Free and Clear – Can be purchased on an all cash basis or with historically low interest rate debt • Collect Contracted Fee’s – Ability to collect a 10% Admin fee within the current leases (not currently collected)

SUMMARY

Asking Price: $10,400,000 Rentable Area: ±73,455 square feet

Price / SF: $142 Occupancy: 84.80%

First Year NOI: $791,581 Site Size: ±6.42 acres

In-Place Cap Rate: 7.61% LIRR (5 Year Hold): 18.68%

Year 2 Cap Rate: 8.18% Cash on Cash Return: 11.3% - 5 Year Average 6 | Offering Memorandum Craig Valley Plaza Property Summary

Property Location: The Property is situated on the northeast corner of West Craig Road and Valley Drive in the North Las Vegas sub-market, having the civic addresses of 4116-4280 West Craig Road, North Las Vegas, Nevada. Craig Road serves as one of the major east/west retail thoroughfares in the sub-market. There are a large number of surrounding single family and multi-family neighborhoods with over 156,800 residents within a 3 mile radius.

Property Description: Craig Valley Plaza is a 73,455 square foot multi-tenant retail center consisting of five in-line retail buildings and one junior anchor retail building on four parcels totaling 6.42 acres. The buildings were constructed between 2000 and 2001. The plaza is 84.80% occupied with 17 tenants and 5 available units ranging from 1,348 SF - 4,224 SF. All vacant units are 2nd generation. The Property offers excellent exposure to Craig Road with approximately 850 feet of frontage and traffic counts of over 31,422 cars per day.

Assessor Parcel Numbers: 139-06-613-002, 003, 004, 005

Zoning: PUD (Planned Unit Development)

Site Size - Acres: 139-06-613-003 - ± 4.48 Acres Building Sizes - SF: 4116 - ± 6,700 SF 139-06-613-002 - ± 0.92 Acres 4180 - ± 28,119 SF 139-06-613-005 - ± 0.45 Acres 4280 - ± 6,812 SF 139-06-613-004 - ± 0.57 Acres 4210 - ± 18,597 SF ± 6.42 Acres Total 4220 - ± 6,627 SF 4260 - ± 6,600 SF ± 73,455 SF Total Parking Ratio: ± 5.2/1,000 (total spaces 380)

Construction Year: 2000-2001

Traffic Counts: On Craig Road, E. of Valley Drive - 31,422 cars per day On Decatur Boulevard, N. of Craig Road - 32,872 cars per day 7 | Offering Memorandum Craig Valley Plaza Property Photos 8 | Offering Memorandum Craig Valley Plaza Property Photos 9 | Offering Memorandum Craig Valley Plaza Property Photos 10 | Offering Memorandum Craig Valley Plaza Surrounding Aerial Map

SUBJECT PROPERTY

CLAYTON ST ± 32,874 CPD

± 31,422 CPD CRAIG RD

ALLEN ST

DECATUR BLVD 11 | Offering Memorandum Craig Valley Plaza Site Map

APOSTOLIC Desert Vision CHURCH BLESSING OF & Eye Care ABRAHAM 101 100 VACANT 4220- 4260 VACANT 4220 -

100-130 4260-140 4260-150 4116-100 4116-101 4116-102 4116-104

LINO’S PIZZERIA

Brand New 6 Year Pending LOI Anchor Tenant Extension

4180 VACANT VACANT VACANT 4210 - 109/110 4280 4280 - 100 4210 -100 4210 -101 4210 -102 4210 -103 4210 -104 4210 -105 4210 -107 4210 -108 102-103

BEL CIELO

Bldg 4260 Bldg 4280 Bldg 4210 Bldg 4220 Bldg 4180 Bldg 4116 Desert Vision BLESSING OF & Eye Care APOSTOLIC ABRAHAM CHURCH BEL CIELO LINO’S PIZZERIA 15 | Offering Memorandum Craig Valley Plaza Location Map 26 | Offering Memorandum Craig Valley Plaza Las Vegas Valley Overview

THE PARK LAS VEGAS NEWEST LAS VEGAS DEVELOPMENTS

Las Vegas Raiders Stadium UNLV School of Medicine

After a 31-1 approval vote to move to Las Vegas, the Oakland "Create a world-class center of excellence and innovation for Raiders recently closed on a 62-acre parcel adjacent to the Las medical education, patient care, and research that prepares Vegas Strip that will house the new $1.9 billion stadium set to Nevada’s physicians with the most advanced knowledge, open in 2020. The project was unanimously recommended to the treatments, and technologies while serving the health care needs legislature by an 11-member committee that included executives of our diverse urban community." from six casino businesses that make money from legal sports gambling — Caesars Entertainment, Boyd Gaming, MGM Resorts The UNLV School of Medicine will be a full-scale, four-year medical International, Wynn Resorts, Las Vegas Sands Corp. and Station school with a mission to improce access to high -quality health Casinos. care in Southern Nevada. The accompanying academic health center will serve as the core infrastructure for the entire medical A state-backed economic impact report shows a total economic community. output of $620 million, as well as $35 million new tax dollars each year. https://www.unlv.edu/medicine/about https://www.usatoday.com/story/sports/nfl/raiders/2017/05/03/raiders-stadium-las-vegas-has-deep-ties- gambling-industry/101210714/

The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness. 27 | Offering Memorandum Craig Valley Plaza Las Vegas Valley Overview

RECENTLY COMPLETED MAJOR DEVELOPMENTS

T-MOBILE ARENA THE PARK LAS VEGAS

T-Mobile Arena is a $375 million 650,000-square-foot, state-of-the-art stadium that opened in MGM Resorts International’s new $100 million outdoor dining and entertainment district April 2016. This multi-purpose arena was a joint venture between MGM Resorts International named The Park Las Vegas is located between New York-New York and Monte Carlo resorts and the Anschutz Entertainment Group (AEG). Located just west of the in front of the brand-new 20,000 seat T-Mobile Arena opened in April 2016. between New York-New York and Monte Carlo, this 20,000-seat T-Mobile Arena will host exciting, world-class events with something for everyone – from UFC, boxing, hockey, The Park boasts a range of restaurants and bars, including the Shake Shack, California Pizza basketball and bull riding to high-profile awards shows, major headline entertainment, Kitchen, Beerhaus, the Japanese restaurant Sake Rok and the waffle restaurant Bruxie. Other concerts, family shows and special events. highlights of the park include two 100-foot long water walls at the entry of The Park and other water features, trees with wide-reaching branches and natural landscaping utilizing native With a 200-foot-wide video mesh wall and telescopic seats to customize sightlines, the T-Mobile and desert-adaptive plants, towering shade structures, patio-style seating, seating alcoves, Arena incorporates some groundbreaking technology. The venue will have numerous VIP a 40-foot-tall sculpture of a dancing woman named Bliss Dance, and more. experiences, highlighted by Hyde Lounge, an exclusive nightclub with unrivaled views of all the sports and entertainment action below.

LUCKY DRAGON HOTEL & CASINO TOP GOLF

Las Vegas’ newest gaming property, the Asian-themed Lucky Dragon Hotel & Casino, Sitting on eight acres just behind MGM Grand Hotel & Casino, Topgolf is the only entertainment celebrated its grand opening on the North end of the Las Vegas Strip in December 2016. The venue of its kind, opening its doors to the public in May 2016. Top Golf boasts 108 climate- new boutique hotel will offer a 10-story hotel tower housing 203 rooms, a 27,500 square foot controlled hitting bays, two pools, cabanas, a concert venue, VIP suites, five bars, special casino with 478 slot machines, and a 446-space parking garage. Other amenities include event spaces, a comfort food-inspired menu with creative beverage offerings, a Callaway Asian-inspired restaurants, a spa, an indoor tea garden, and a pool for hotel guests. Fitting Studio, a Topgolf retail shop, and more. Spanning four levels and 105,000 square feet, the Topgolf flagship location in Las Vegas stands as the biggest Topgolf venue to date. The Lucky Dragon is the first all-new hotel to open on the Las Vegas Strip recently. Most of the signage due to reside at the property will be in Chinese as a reflection of the true Asian cultural The venue is expected to serve upward of one million guests in its first year of operation and and gaming experience. Lucky Dragon’s opening comes just in time for the start of non-stop has already created more than 850 full- and part-time positions. flights from Beijing to Las Vegas. The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness. 28 | Offering Memorandum Craig Valley Plaza Las Vegas Valley Overview

PLANNED DEVELOPMENTS LV GLOBAL BUSINESS DISTRICT LAS VEGAS STADIUM Las Vegas Convention Center will The Oakland Raiders received the be renovated and expanded into NFL’s approval to move to Sin City for a $2.3 billion Las Vegas Global the 2020 NFL season. Las Vegas has Business District. Planned in four proposed a new $1.9 billion stadium phases, new facilities will replace just to the west of the Strip. The the 26-acre Riviera Hotel (closed venue’s horse-shoe shape, designed in 2015 and demolished in 2016), by Manica Architecture, would adding an additional 1.8 million accommodate an audience of 65,000 square-foot of exhibit and meeting space. The next phases will completely spectators, 8,000 cars, tailgating amenities and mixed-use commercial revamp the inside and outside of the facility, add new transportation facilities. Along with the economic benefits of in-season games, this hubs, green spaces, and a street of retail and entertainment outlets. venue would also allow Las Vegas to host the annual Super Bowl – which would bring in hundreds of millions of dollars in tourism and revenue.

THE LAS VEGAS MONTE CARLO The , located One of the newest transformations on the Strip, is a 3.9-mile, 7-station occurring in Las Vegas is the conversion transit system whose track begins of the Monte Carlo into two hotels: at the SLS and ends at the MGM 2,700-room luxury resort Park MGM and Grand. Other stops include The 292-room hotel NoMad Las Vegas. This Westgate, Las Vegas Convention $450 million makeover is projected to Center, Harrah’s & , be completed by the end of 2018. Flamingo & , and The new resort will feature two hotels Bally’s & Paris. This travel system is one of the best options to connect (NoMad Hotel & Park MGM), redesigned rooms, an Italian market Eataly guests to the great hotels, casinos, restaurants, and shopping along the with cafes, walk-up counters and dine-in restaurants. The properties will Vegas Strip. The Monorail also offers elevated Strip views and eliminates have amenities such as dining and casinos as well as a 5,300-seat theater the hassle of traffic congestion. at the Park MGM.

Clark County commissioners recently approved a 1-mile extension to the Fronting this project is MGM Resorts and New York-based Sydell Group, the Monorail that would add onto the transit-stop map. This group who introduced the NoMad in New York, The Line in Los Angeles, expansion is rumored to begin in the second quarter of 2017. Freehand in Miami and Chicago, and Saguaro in Scottsdale and Palm Springs, California. The transformation of the Monte Carlo comes from a plan to reenergize the west side Strip area between the and New York-New York. 29 | Offering Memorandum Craig Valley Plaza Las Vegas Valley Overview

PLANNED DEVELOPMENTS RESORT WORLD LAS VEGAS

Resorts World Las Vegas is a $4 billion Strip resort project with a heavy Asian theme planned for the North Strip. Resorts World broke ground on the project on May 5, 2015 and will begin full-scale construction towards the end of 2016.

Resorts World, a Chinese themed resort developed by the Genting Group, is being built at the former site of the Stardust and Echelon. Genting, which bought the site from Boyd in 2013 for $350 million, will be using the partially constructed Echelon structures for this property. With a projected opening set for early 2019, the initial phase will have 3,100 rooms, a 100,000-square-foot casino, shops and restaurants spread across its 88-acre site. Plans for a 4,000 seat showroom, an observation deck, and panda habitat are on hold for the initial construction phase.

WYNN PARADISE PARK

Wynn Resorts Ltd. is building its third hotel behind its two Las Vegas casinos, an ambitious lake and fantasy island project called Wynn Paradise. The $1.6 billion resort will take the place of the golf course and feature 1,000 rooms around a 38-acre lagoon and 250,000 square feet of meeting space. The lake will have a white sandy beach, a boardwalk, water skiing and paddle boating, islands accessible by zip lines or a gondola, a nightly fireworks display, and an 8-story King Kong climbing a mountain in the lake. There will be a small casino, restaurants and nightclubs. Construction should start next year with a 2020 debut.

HYPERLOOP Hyperloop One has moved into the Las Vegas Valley as swiftly as it travels. The 105,000 square foot manufacturing plant is being constructed at a 50-acre site near Apex Industrial Park in North Las Vegas, with goals of being the testing facility for Hyperloop Technologies, Inc.

The principle of this “fifth mode of transportation” involves transporting levitated capsules through tubes at speeds up to 750. At such speeds, a Las Vegas-Los Angeles trip could take under a half hour. The company expects to be commercially ready by 2021, and hopes to identify three initial routes by 2017. 30 | Offering Memorandum Craig Valley Plaza Contact Team

Roy Fritz Cathy Jones, CPA, SIOR, CCIM Jessica Cegavske Jennifer Lehr Senior Vice President CEO Vice President Senior Associate 702-968-7322 702-968-7320 702-968-7321 702-968-7329 [email protected] [email protected] [email protected] [email protected]