16
Tim Erickson Senior Associate 702-968-7334 [email protected] CHEYENNE WEST CORPORATE CENTER 3105 Coleman Street, North Las Vegas, NV 89032 Lisa Hauger Senior Vice President 702-968-7333 [email protected] Sun Commercial Real Estate, Inc. 6140 Brent Thurman Way, Suite 140, Las Vegas, NV 89148 | Ph: 702.968.7300 | www.SunCommercialRE.com OFFERING MEMORANDUM

OFFERING MEMORANDUM CHEYENNE WEST CORPORATE …...Tim Erickson. Senior Associate 702-968-7334. [email protected]. CHEYENNE WEST CORPORATE CENTER. 3105 Coleman Street, North

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  • Tim EricksonSenior Associate

    [email protected]

    CHEYENNE WEST CORPORATE CENTER3105 Coleman Street, North Las Vegas, NV 89032

    Lisa HaugerSenior Vice President

    [email protected] Sun

    Commercial Real Estate, Inc.6140 Brent Thurman Way, Suite 140, Las Vegas, NV 89148 | Ph: 702.968.7300 | www.SunCommercialRE.com

    OFFERING MEMORANDUM

  • Page 2 of 16Offering Memorandum | 3105 Coleman Street, North Las Vegas, Nevada 89032

    CONTACT TEAM

    Exclusively listed by: Sun Commercial Real Estate, Inc.6140 Brent Thurman Way, Suite 140, Las Vegas, Nevada 89148

    702 | 968 | 7300 Ph • 702 | 968 | 7301 Faxwww.SunCommercialRE.com

    Timothy EricksonSenior Associate

    [email protected]

    Lisa HaugerSenior Vice President

    [email protected]

  • Page 3 of 16Offering Memorandum | 3105 Coleman Street, North Las Vegas, Nevada 89032

    CONFIDENTIALITY & DISCLOSURE

    SUN COMMERCIAL REAL ESTATE, INC. (the “Broker”) has been retained on an exclusive basis to market the property described herein (the “Property”). Broker has been authorized by the Seller of the Property (the “Seller”) to prepare and distribute the enclosed information (the “Material”) for the purpose of soliciting offers to purchase from interested parties. More detailed financial, title and tenant lease information may be made available upon request following the mutual execution of a letter of intent or contract to purchase between the Seller and a prospective purchaser. You are invited to review this opportunity and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations with you, you will be asked to provide financial references. The eventual purchaser will be chosen based upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller deems appropriate.

    The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors for the acquisition of the Property. The Material is not to be copied and/or used for any other purpose or made available to any other person without the express written consent of Broker or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a prospective buyer may require. The information contained in the Material has been obtained from the Seller and other sources and has not been verified by the Seller or its affiliates. The pro forma is delivered only as an accommodation and neither the Seller, Broker, nor any of their respective affiliates, agents, representatives, employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any existing or available financing, and must independently confirm the accuracy of the projections contained in the pro forma.

    Seller reserves the right, for any reason, to withdraw the Property from the market. Seller has no obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with respect thereto.

    Property walk-throughs are to be conducted by appointment only. Contact Broker for additional information.

    Lisa Hauger Timothy Erickson Senior Vice President Senior Associate [email protected] [email protected]

  • Page 4 of 16

    Property HighlightsProperty SummaryProperty PhotosFloor PlansAssessor Parcel MapSurrounding Aerial MapLas Vegas Valley Location Map

    Market Overview Section 2

    Las Vegas Industrial & North Las Vegas Submarket ReviewArea Demographics

    Property Overview Section 1

    TABLE OF CONTENTS

  • Page 5 of 16Offering Memorandum | 3105 Coleman Street, North Las Vegas, Nevada 89032

    PROPERTY HIGHLIGHTS

    The Offering:

    Sun Commercial Real Estate is pleased to offer this exceptional ±25,212 SF office/warehouse building on ±1.61 acres located in the Cheyenne West Corporate Center with direct frontage along Coleman Street. This is an excellent owner/user property featuring ±4,100 SF of HVAC office area and a ±21,112 SF well-insulated warehouse.

    Asking Price:

    Total Building Area:

    Price Per SF:

    Total Land:

    Year Built:

    $3,490,000 $3,399,000

    ±25,212 SF

    ±1.61 acres

    2003

    $135/SF

    Property Highlights:

    • ±25,212 SF office/warehouse with direct frontage along Coleman which includes: ♦ ±4,100 SF HVAC office area with a ±2,364 SF former dance studio with its own entrance and bathroom off the southwest corner of the warehouse ♦ ±21,112 SF of well-insulated warehouse space• 24’ clear height• Sprinklers• 2 well docks and 2 grade level doors• Direct street frontage

    Summary:

  • Page 6 of 16Offering Memorandum | 3105 Coleman Street, North Las Vegas, Nevada 89032

    PROPERTY SUMMARY

    Property Location:

    Property Description:

    Assessor Parcel Number:

    Zoning:

    Site Size - Acres:

    Building Size - SF:

    Construction Year:

    Traffic Counts:

    Located within the Cheyenne West Corporate Center with frontage along Coleman Street in North Las Vegas. Easy access to I-15 via the Cheyenne corridor.

    For many years this was the home of Go For It Gymnastics. Beautiful facility with built-in reception area, 4 offices, ±1,000 SF training room with access to 2 multi-stall bathrooms and its own entrance. Two additional single stall bathrooms are located off the lobby. In the SW corner of the warehouse, one grade level door was removed and replaced with store front and a ±2,364 SF office was built to accommodate a dance studio. That area features a foyer, one office, viewing area, large wood dance floor, and a bathroom. All showings must be arranged with the listing agents.

    139-17-510-037

    (M-2) General Industrial (North Las Vegas)

    ±1.61 acres

    ±25,212 SF

    2003

    On W. Cheyenne Avenue, W. of Coleman Street: ±41,000 CPDOn W. Brooks Avenue, W. of Coleman Street: ±32,000 CPD

  • Page 7 of 16Offering Memorandum | 3105 Coleman Street, North Las Vegas, Nevada 89032

    PROPERTY PHOTOS

  • Page 8 of 16Offering Memorandum | 3105 Coleman Street, North Las Vegas, Nevada 89032

    INTERIOR PROPERTY PHOTOS

  • Page 9 of 16Offering Memorandum | 3105 Coleman Street, North Las Vegas, Nevada 89032

    FLOOR PLAN

    GO FOR IT USA ACADEMY 25,212 TOTAL SQ.FT.FLOOR PLAN LAST UPDATED 09/18/07scale: 1 inch = 20 feet by DON SPENCER

    ELECTRICROOM

    REC CLASSESFLOOREXERCISE

    VAUL

    T RU

    NWA

    Y

    PARALLEL BARSAREA

    POW

    ER T

    UMBL

    ING

    STR

    IP

    BEAMAREA

    RECEPTIONOFFICE

    TEAMFLOOREXERCISE

    LOOSE FOAMPIT (6' depth)

    IN-G

    ROUN

    DTR

    AM

    POLI

    NE

    TUMBLTRAK

    UNEVENBARS

    RINGS

    FOYER

    PRO SHOP

    OFFICE

    COUR

    TESY

    ROOM

    (OBS

    ERVA

    TOIN

    AREA

    )

    ADVENTURE GYM(PRESCHOOL AGE)

    SIX

    - M

    ULTI

    -TA

    SK

    STA

    TION

    S

    FOR

    AG

    E G

    ROUP

    CLA

    SS

    ES

    TUM

    BLIN

    GLA

    NDIN

    G

    IN-G

    ROUN

    DTR

    AM

    POLI

    NE

    LOCKERS

    OFFICE

    SINGLE BAR TRAINER

    HIGHBARRI

    NGS

    SIN

    GLE

    BA

    R TR

    ENCH

    PIT

    CUBB

    IES

    DRINKINGFOUNTAIN

    UTILITY / STORAGEROOM

    F.RI

    SER

    RECESSED LOADINGDOCK AREA

    OVERHEAD DOORS

    GO FOR IT KIDS ROOMBIRTHDAY PARTIESMULTI-PURPOSEAPP. 1732 SQ.FT.

    SPORTS ACRO / CHEER / CIRCUS SCHOOL /MARTIAL ARTS / ADULT WORKOUT AREA2,441 SQ.FT.

    * NOTEThe wall between this space and the maingym is a pony wall.

    * NOTEThe wall above is a partition wall. The wall to the right is a demizing wall.Evaporative cooled and gas heated air.

    * NOTEThe walls below and to the right aredemizing walls. (from floor all the way up)Drop ceiling with HVAC.2,364 sq.ft. spaceSeperate entrance, utilities and addressfrom the majority tenant.

    WOMEN'SRESTROOM

    MEN'SRESTROOM

    MUSIC &STORAGE

    FLOOREXERCISE

    SPR

    ING

    TUM

    BLIN

    G S

    TRIP

    DRINKINGFOUNTAINS

    STAFF OFFICE

    TILT UP WALLS

    DEMIZING WALLS

    PARTITION WALLS

    PONY WALLS

    VAUL

    T LA

    NDIN

    G

    FUTURE ROCK CLIMBING WALL

    FUTURE SITE FOR SWIMMING POOL

    OVER

    HEA

    D DO

    OR

    FOYER

    OFFICE

    COURTESYROOM

    DANCE FLOOR

    MIRRORS (8 X 32 FEET)

    BALL

    ET B

    ARS

    (24

    FEET

    x 2

    )

    STORAGEROOM

    CLOS

    ET

    RESTROOM

    SHELVES

    GYMACCESS

    * NOTEDrop ceiling with HVAC.965 sq.ft. spaceSeperate entrance, utilities and addressfrom the majority tenant.

    SINK

    VEND

    ING

    OFFICE

    POMMELHORSEAREA

    ROPE CLIMB & MUSHROOM AREA

    WOR

    K S

    HOP

    STO

    RAG

    E

    PIT

    LEV

    EL

    DO

    OR

    GR

    AD

    E

    PIT

  • Page 10 of 16Offering Memorandum | 3105 Coleman Street, North Las Vegas, Nevada 89032

    >>

    502510

    CLA

    YTO

    N S

    T

    CHEYENNE AVE

    CLA

    YTO

    N S

    T

    SIM

    MO

    NS

    ST

    BROOKS ST

    CO

    LEM

    AN

    ST

    25 24 25 24 2524 2526 23

    PT 1

    PT 1PT 1

    PT 1

    PT 1 PT 1

    PT 1

    PT 1PT 1PT 1

    PT 1 PT 1 PT 1

    PT 1

    PT 1

    PT 1PT 1

    PT 1 PT 1 PT 1

    PT 1 PT 1

    PT 1

    PT1

    PT 1

    PT 1

    PT 1PT 1

    PT 1

    40

    56.6

    640

    20

    40

    40

    10

    20

    30

    202020

    30

    105.41277.92 300

    73.08 70.99

    40

    40

    1270

    50

    R=15R=15

    30

    30

    396.71

    50

    50

    42.73

    150

    R=54

    R=25

    40

    50

    30

    R=15

    191.81

    136.

    06

    51.52

    247.26

    122.

    43

    236.91

    164.

    55

    247.26

    172.

    76

    195.64

    139.

    82

    139.

    82

    195.64195.64

    147.

    1

    195.64

    201.79

    55.9

    7

    186.

    36

    181.79

    242.

    33

    243.84

    269.

    77

    250 27.

    44

    248.1

    182

    248.1

    182

    127.49 153.45 172.1

    116.

    21

    113.

    74

    113.

    74

    121.27 97.45

    38.6

    1

    56.04 168.04

    105.

    24 152.

    75

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    127.48 153.45 175.19

    116.

    2515

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    155.

    22

    128.34

    113.

    74

    224.08

    256.

    6

    256.

    51

    217.26

    248.1

    148.

    66

    248.1

    148.

    66

    218.72

    295.

    12

    299.

    28

    145.03

    220.

    42

    237.06

    13.5

    7

    227.

    05

    194.19

    219.

    6

    231.06

    216.

    19

    197.8

    219.

    64

    219.

    32

    134.08

    134.09 201.09

    67.0

    712

    8.28

    250

    250.01

    139.

    8211

    9.66

    139.

    82

    250

    64.27

    239.

    99

    183.23

    263.

    03

    115.83 71.85

    87.95

    132.5 337.

    61

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    121.

    57

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    173.

    82

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    5618

    8.08

    300.77

    142.17

    296.6

    529.

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    480.37

    484.49

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    99

    82.9

    176

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    336.68

    505.

    22

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    R=15402.53 231.94205.73

    304.

    86

    R=20R=15

    3040

    R=30 R=30 R=30

    20

    R=25

    20

    AIRCENTER NORTH

    016 017014 015012 013010 011009

    PB 100-44

    005R=54

    654.79 005

    72.18

    587.28

    PT1158.26152.12

    144.49169.86

    46.5 5.7

    7

    286.

    5

    PT1

    025 026024023022

    004

    003

    003

    001030

    028027

    002001

    007 008

    00139.33

    0181.3

    0120.6

    0160.4

    0111.6

    0320.8

    0501.04

    0491.02

    0401.66

    0392.17021

    1.490341.17

    0130.46

    0140.33

    0422.44

    0150.46

    0170.33

    0371.61

    0261.05

    0270.68

    0410.72

    0432.42

    0231.21

    0251.13010

    1.04

    0443.99

    0190.85 0070.75

    0331.35

    0081.01

    0201.04005

    0.63

    029

    NO

    TES

    This map is for assessment use only and does NOT represent a survey.

    No liability is assumed for the accuracy of the data deliniated herein. Information on roads and other non-assessed parcels may be obtained from the Road Document Listing in the Assessor's Office.

    This map is compiled from official records, including surveys and deeds, but only contains the information required for assessment. See the recorded documents for more detailed legal information.

    MA

    P LE

    GE

    ND

    USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL

    ASSESSOR'S PARCELS - CLARK CO., NV.

    Scale: 1" = 200' 12/29/2016

    T20S R61E 17 N 2 NE 4 139-17-5

    31

    30

    19

    1

    1314

    121110987

    6 5 4 3 2

    3635343332

    29 28 27 26

    24

    25

    23222120

    18 17 16 15

    BO

    OK

    SEC

    .

    MA

    P

    2

    3

    4

    5

    6

    7

    8

    1

    2

    3

    4

    51

    8

    7

    5

    6

    4 8

    250

    PARCEL BOUNDARYSUB BOUNDARY

    ROAD EASEMENTPM/LD BOUNDARY

    HISTORIC LOT LINEMATCH / LEADER LINE

    ROAD PARCEL NUMBERPARCEL NUMERACREAGE

    PARCEL SUB/SEQ NUMBER

    PLAT RECORDING NUMBERBLOCK NUMBERLOT NUMBERGOV. LOT NUMBER

    10010011.00

    202PB 24-45

    55

    GL5

    HISTORIC SUB BOUNDARYHISTORIC PM/LD BOUNDARY

    15

    8 4

    Rev:

    TAX DIST

    0 200 400 600 800100 SECTION LINE

    CONDOMINIUM UNITAIR SPACE PCLRIGHT OF WAY PCLSUB-SURFACE PCL 138 139

    124125

    140

    162163

    123

    161

    137

    126

    164

    Michele W. Shafe - Assessor

    ASSESSOR PARCEL MAP

    >>

    502510

    CLA

    YTO

    N S

    T

    CHEYENNE AVE

    CLA

    YTO

    N S

    T

    SIM

    MO

    NS

    ST

    BROOKS ST

    CO

    LEM

    AN

    ST

    25 24 25 24 2524 2526 23

    PT 1

    PT 1PT 1

    PT 1

    PT 1 PT 1

    PT 1

    PT 1PT 1PT 1

    PT 1 PT 1 PT 1

    PT 1

    PT 1

    PT 1PT 1

    PT 1 PT 1 PT 1

    PT 1 PT 1

    PT 1

    PT1

    PT 1

    PT 1

    PT 1PT 1

    PT 1

    40

    56.6

    640

    20

    40

    40

    10

    20

    30

    202020

    30

    105.41277.92 300

    73.08 70.99

    40

    40

    1270

    50

    R=15R=15

    30

    30

    396.71

    50

    50

    42.73

    150

    R=54

    R=25

    40

    50

    30

    R=15

    191.81

    136.

    06

    51.52

    247.26

    122.

    43

    236.91

    164.

    55

    247.26

    172.

    76

    195.64

    139.

    82

    139.

    82

    195.64195.64

    147.

    1

    195.64

    201.79

    55.9

    7

    186.

    36

    181.79

    242.

    33

    243.84

    269.

    77

    250 27.

    44

    248.1

    182

    248.1

    182

    127.49 153.45 172.1

    116.

    21

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    74

    113.

    74

    121.27 97.45

    38.6

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    56.04 168.04

    105.

    24 152.

    75

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    03

    127.48 153.45 175.19

    116.

    2515

    2.8

    155.

    22

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    113.

    74

    224.08

    256.

    6

    256.

    51

    217.26

    248.1

    148.

    66

    248.1

    148.

    66

    218.72

    295.

    12

    299.

    28

    145.03

    220.

    42

    237.06

    13.5

    7

    227.

    05

    194.19

    219.

    6

    231.06

    216.

    19

    197.8

    219.

    64

    219.

    32

    134.08

    134.09 201.09

    67.0

    712

    8.28

    250

    250.01

    139.

    8211

    9.66

    139.

    82

    250

    64.27

    239.

    99

    183.23

    263.

    03

    115.83 71.85

    87.95

    132.5 337.

    61

    194.92

    121.

    57

    37.6

    9

    173.

    82

    337.

    5618

    8.08

    300.77

    142.17

    296.6

    529.

    25

    480.37

    484.49

    218.

    99

    82.9

    176

    .85 486.48

    142.

    1513

    5.01

    336.68

    505.

    22

    142.22

    R=15402.53 231.94205.73

    304.

    86

    R=20R=15

    3040

    R=30 R=30 R=30

    20

    R=25

    20

    AIRCENTER NORTH

    016 017014 015012 013010 011009

    PB 100-44

    005R=54

    654.79 005

    72.18

    587.28

    PT1158.26152.12

    144.49169.86

    46.5 5.7

    7

    286.

    5

    PT1

    025 026024023022

    004

    003

    003

    001030

    028027

    002001

    007 008

    00139.33

    0181.3

    0120.6

    0160.4

    0111.6

    0320.8

    0501.04

    0491.02

    0401.66

    0392.17021

    1.490341.17

    0130.46

    0140.33

    0422.44

    0150.46

    0170.33

    0371.61

    0261.05

    0270.68

    0410.72

    0432.42

    0231.21

    0251.13010

    1.04

    0443.99

    0190.85 0070.75

    0331.35

    0081.01

    0201.04005

    0.63

    029

    NO

    TES

    This map is for assessment use only and does NOT represent a survey.

    No liability is assumed for the accuracy of the data deliniated herein. Information on roads and other non-assessed parcels may be obtained from the Road Document Listing in the Assessor's Office.

    This map is compiled from official records, including surveys and deeds, but only contains the information required for assessment. See the recorded documents for more detailed legal information.

    MA

    P LE

    GE

    ND

    USE THIS SCALE(FEET) WHEN MAP REDUCED FROM 11X17 ORIGINAL

    ASSESSOR'S PARCELS - CLARK CO., NV.

    Scale: 1" = 200' 12/29/2016

    T20S R61E 17 N 2 NE 4 139-17-5

    31

    30

    19

    1

    1314

    121110987

    6 5 4 3 2

    3635343332

    29 28 27 26

    24

    25

    23222120

    18 17 16 15

    BO

    OK

    SEC

    .

    MA

    P

    2

    3

    4

    5

    6

    7

    8

    1

    2

    3

    4

    51

    8

    7

    5

    6

    4 8

    250

    PARCEL BOUNDARYSUB BOUNDARY

    ROAD EASEMENTPM/LD BOUNDARY

    HISTORIC LOT LINEMATCH / LEADER LINE

    ROAD PARCEL NUMBERPARCEL NUMERACREAGE

    PARCEL SUB/SEQ NUMBER

    PLAT RECORDING NUMBERBLOCK NUMBERLOT NUMBERGOV. LOT NUMBER

    10010011.00

    202PB 24-45

    55

    GL5

    HISTORIC SUB BOUNDARYHISTORIC PM/LD BOUNDARY

    15

    8 4

    Rev:

    TAX DIST

    0 200 400 600 800100 SECTION LINE

    CONDOMINIUM UNITAIR SPACE PCLRIGHT OF WAY PCLSUB-SURFACE PCL 138 139

    124125

    140

    162163

    123

    161

    137

    126

    164

    Michele W. Shafe - Assessor

  • Page 11 of 16Offering Memorandum | 3105 Coleman Street, North Las Vegas, Nevada 89032

    SURROUNDING AERIAL MAP

    Subject Property

    Cole

    man

    Stre

    et W. Cheyenne Avenue

    Las Vegas Strip

    Simmons Street

  • Page 12 of 16Offering Memorandum | 3105 Coleman Street, North Las Vegas, Nevada 89032

    LAS VEGAS VALLEY LOCATION MAP

  • Page 13 of 16Offering Memorandum | 3105 Coleman Street, North Las Vegas, Nevada 89032

    LAS VEGAS INDUSTRIAL & NORTH LAS VEGAS SUBMARKET REVIEW

    8 CoStar Industrial Statistics ©2018 CoStar Group, Inc.

    Las Vegas � Third Quarter 2018

    Las Vegas Industrial MarketThird Quarter 2018 – Las Vegas

    Las Vegas Industrial Market

    ©2018 CoStar Group, Inc. CoStar Industrial Statistics 9

    Flex Market Statistics Third Quarter 2018YTD Net YTD Under Quoted

    Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

    Airport/E Las Vegas Ind 140 2,954,682 195,332 200,832 6.8% 107,677 0 0 $11.74

    Central Las Vegas Ind 124 6,469,741 46,823 57,123 0.9% 12,556 0 0 $6.52

    North Las Vegas Ind 164 2,142,579 145,455 147,873 6.9% (52,793) 0 0 $7.70

    Northwest Las Vegas Ind 20 442,974 42,776 44,276 10.0% (13,646) 0 0 $12.25

    Outlying NE Clark Cty Ind 4 54,735 0 0 0.0% 0 0 0 $0.00

    Outlying S Clark Cnty Ind 9 62,542 0 0 0.0% 2,000 0 0 $0.00

    SE LV/Henderson Ind 95 1,195,873 52,444 52,444 4.4% 3,901 0 0 $7.68

    Speedway Ind 13 349,949 10,067 10,067 2.9% 20,267 0 0 $5.85

    SW Las Vegas Ind 252 4,969,346 523,056 528,679 10.6% 17,323 0 0 $12.59

    West Las Vegas Ind 155 3,621,352 243,414 244,437 6.7% 17,338 0 0 $10.72

    Totals 976 22,263,773 1,259,367 1,285,731 5.8% 114,623 0 0 $10.68

    Source: CoStar Property®

    Warehouse Market Statistics Third Quarter 2018YTD Net YTD Under Quoted

    Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

    Airport/E Las Vegas Ind 365 12,458,783 241,798 273,943 2.2% 421,300 0 224,752 $8.52

    Central Las Vegas Ind 370 7,071,087 188,383 188,383 2.7% 98,208 0 0 $8.18

    North Las Vegas Ind 922 39,205,256 2,379,690 2,441,370 6.2% 1,821,677 1,848,471 1,935,863 $5.41

    Northwest Las Vegas Ind 20 472,342 1,772 1,772 0.4% 740 0 0 $9.92

    Outlying NE Clark Cty Ind 28 468,325 14,000 14,000 3.0% (12,400) 0 0 $0.00

    Outlying S Clark Cnty Ind 85 583,857 54,531 54,531 9.3% (16,661) 0 0 $9.42

    SE LV/Henderson Ind 451 16,331,047 759,744 908,809 5.6% 985,650 994,312 212,030 $7.01

    Speedway Ind 52 3,815,090 679,339 712,939 18.7% (70,329) 390,904 1,784,245 $5.81

    SW Las Vegas Ind 766 25,370,398 345,967 349,792 1.4% 471,374 10,475 526,916 $7.36

    West Las Vegas Ind 307 7,342,692 424,212 425,412 5.8% 192,860 0 0 $8.27

    Totals 3,366 113,118,877 5,089,436 5,370,951 4.7% 3,892,419 3,244,162 4,683,806 $6.65

    Source: CoStar Property®

    Total Industrial Market Statistics Third Quarter 2018YTD Net YTD Under Quoted

    Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

    Airport/E Las Vegas Ind 505 15,413,465 437,130 474,775 3.1% 528,977 0 224,752 $9.50

    Central Las Vegas Ind 494 13,540,828 235,206 245,506 1.8% 110,764 0 0 $7.91

    North Las Vegas Ind 1,086 41,347,835 2,525,145 2,589,243 6.3% 1,768,884 1,848,471 1,935,863 $5.52

    Northwest Las Vegas Ind 40 915,316 44,548 46,048 5.0% (12,906) 0 0 $12.02

    Outlying NE Clark Cty Ind 32 523,060 14,000 14,000 2.7% (12,400) 0 0 $0.00

    Outlying S Clark Cnty Ind 94 646,399 54,531 54,531 8.4% (14,661) 0 0 $9.42

    SE LV/Henderson Ind 546 17,526,920 812,188 961,253 5.5% 989,551 994,312 212,030 $7.03

    Speedway Ind 65 4,165,039 689,406 723,006 17.4% (50,062) 390,904 1,784,245 $5.81

    SW Las Vegas Ind 1,018 30,339,744 869,023 878,471 2.9% 488,697 10,475 526,916 $8.29

    West Las Vegas Ind 462 10,964,044 667,626 669,849 6.1% 210,198 0 0 $8.93

    Totals 4,342 135,382,650 6,348,803 6,656,682 4.9% 4,007,042 3,244,162 4,683,806 $7.12

    Source: CoStar Property®

    Existing Inventory Vacancy

    Existing Inventory Vacancy

    Existing Inventory Vacancy

    Figures at a Glance

    16 CoStar Industrial Statistics ©2018 CoStar Group, Inc.

    Las Vegas – Third Quarter 2018

    Las Vegas Industrial MarketMARKET HIGHLIGHTS - Flex & Warehouse

    ©2018 CoStar Group, Inc. CoStar Industrial Statistics 17

    Third Quarter 2018 – Las Vegas

    Las Vegas Industrial MarketMARKET HIGHLIGHTS - Flex & Warehouse

    N o r t h L a s V e g a s M a r k e t

    Deliveries, Absorption & Vacancy Historical Analysis, Flex and Warehouse

    Source: CoStar Property®

    Vacant Space Quoted Rental RatesHistorical Analysis, Flex and Warehouse Historical Analysis, Flex and Warehouse

    Source: CoStar Property® Source: CoStar Property®

    Net QuotedPeriod # Bldgs Total RBA Vacant SF Vacancy % Absorption # Bldgs Total RBA # Bldgs Total RBA Rates

    2018 3q 1,086 41,347,835 2,589,243 6.3% 241,026 1 215,804 9 1,935,863 $5.52

    2018 2q 1,084 41,092,636 2,575,070 6.3% 326,650 3 409,831 5 320,890 $5.65

    2018 1q 1,079 40,622,990 2,432,074 6.0% 1,201,208 4 1,222,836 7 724,845 $5.55

    2017 4q 1,075 39,400,154 2,410,446 6.1% 1,512,916 3 538,785 8 1,848,471 $5.66

    2017 3q 1,070 38,035,209 2,558,417 6.7% 1,583,141 4 2,488,410 10 2,853,081 $5.62

    2017 2q 1,066 35,546,799 1,653,148 4.7% 762,405 3 852,200 12 5,055,186 $5.47

    2017 1q 1,063 34,694,599 1,563,353 4.5% 857,835 1 525,200 11 4,459,195 $5.88

    2016 4q 1,062 34,169,399 1,895,988 5.5% 511,214 2 410,975 10 4,554,675 $5.76

    2016 3q 1,060 33,758,424 1,996,227 5.9% 45,198 1 311,501 8 3,104,747 $5.58

    2016 2q 1,059 33,446,923 1,729,924 5.2% (153,281) 0 0 8 2,814,638 $5.34

    2016 1q 1,059 33,446,923 1,576,643 4.7% 644,327 4 874,247 2 507,216 $5.35

    2015 4q 1,055 32,572,676 1,346,723 4.1% 669,389 2 535,260 6 1,381,463 $5.12

    2015 3q 1,053 32,037,416 1,480,852 4.6% 304,223 0 0 7 1,721,008 $4.89

    2015 2q 1,053 32,037,416 1,785,075 5.6% 809,804 1 464,203 4 947,176 $4.77

    2015 1q 1,052 31,573,213 2,130,676 6.7% 136,282 0 0 2 627,993 $4.74

    2014 4q 1,052 31,573,213 2,266,958 7.2% 536,255 1 400,000 1 464,203 $4.68

    Source: CoStar Property®

    UC InventoryDelivered InventoryExisting Inventory Vacancy

    (0.500)

    0.000

    0.500

    1.000

    1.500

    2.000

    2.500

    3.000

    2015 1q 2015 2q 2015 3q 2015 4q 2016 1q 2016 2q 2016 3q 2016 4q 2017 1q 2017 2q 2017 3q 2017 4q 2018 1q 2018 2q 2018 3q

    Millions

    SF

    0.0%

    1.0%

    2.0%

    3.0%

    4.0%

    5.0%

    6.0%

    7.0%

    8.0%

    Percen

    t Vacan

    t

    Delivered SF Absorption SF Vacancy

    $5.20

    $5.30

    $5.40

    $5.50

    $5.60

    $5.70

    $5.80

    $5.90

    $6.00

    2017 1q 2017 3q 2018 1q 2018 3q

    Dollar

    s/SF

    /Yea

    r

    0.00

    0.50

    1.00

    1.50

    2.00

    2.50

    3.00

    2017 1q 2017 3q 2018 1q 2018 3q

    Millions

    SF

    Direct SF Sublet SF

  • Page 14 of 16Offering Memorandum | 3105 Coleman Street, North Las Vegas, Nevada 89032

    AREA DEMOGRAPHICS - 1 MILE RADIUSDemographic and Income Profile3105 Coleman St, North Las Vegas, Nevada, 89032 3 Prepared by Esri3105 Coleman St, North Las Vegas, Nevada, 89032 Latitude: 36.21577Ring: 1 mile radius Longitude: -115.17483

    Summary Census 2010 2018 2023Population 10,205 11,676 12,866Households 3,083 3,489 3,832Families 2,333 2,631 2,885Average Household Size 3.31 3.34 3.36Owner Occupied Housing Units 1,721 1,921 2,176Renter Occupied Housing Units 1,362 1,569 1,656Median Age 30.7 31.8 32.3

    Trends: 2018 - 2023 Annual Rate Area State NationalPopulation 1.96% 1.59% 0.83%Households 1.89% 1.48% 0.79%Families 1.86% 1.44% 0.71%Owner HHs 2.52% 2.06% 1.16%Median Household Income 3.04% 2.45% 2.50%

    2018 2023 Households by Income Number Percent Number Percent

  • Page 15 of 16Offering Memorandum | 3105 Coleman Street, North Las Vegas, Nevada 89032

    AREA DEMOGRAPHICS - 3 MILE RADIUSDemographic and Income Profile3105 Coleman St, North Las Vegas, Nevada, 89032 3 Prepared by Esri3105 Coleman St, North Las Vegas, Nevada, 89032 Latitude: 36.21577Ring: 3 mile radius Longitude: -115.17483

    Summary Census 2010 2018 2023Population 140,014 150,471 160,685Households 44,504 47,000 49,956Families 31,888 33,514 35,584Average Household Size 3.08 3.14 3.16Owner Occupied Housing Units 25,295 25,023 27,438Renter Occupied Housing Units 19,209 21,977 22,518Median Age 32.8 33.7 33.9

    Trends: 2018 - 2023 Annual Rate Area State NationalPopulation 1.32% 1.59% 0.83%Households 1.23% 1.48% 0.79%Families 1.21% 1.44% 0.71%Owner HHs 1.86% 2.06% 1.16%Median Household Income 2.53% 2.45% 2.50%

    2018 2023 Households by Income Number Percent Number Percent

  • Page 16 of 16Offering Memorandum | 3105 Coleman Street, North Las Vegas, Nevada 89032

    AREA DEMOGRAPHICS - 5 MILE RADIUSDemographic and Income Profile3105 Coleman St, North Las Vegas, Nevada, 89032 3 Prepared by Esri3105 Coleman St, North Las Vegas, Nevada, 89032 Latitude: 36.21577Ring: 5 mile radius Longitude: -115.17483

    Summary Census 2010 2018 2023Population 458,257 494,589 529,803Households 149,474 158,523 169,211Families 102,394 107,897 114,869Average Household Size 3.01 3.06 3.07Owner Occupied Housing Units 78,872 78,449 86,427Renter Occupied Housing Units 70,602 80,074 82,784Median Age 32.5 33.5 33.8

    Trends: 2018 - 2023 Annual Rate Area State NationalPopulation 1.39% 1.59% 0.83%Households 1.31% 1.48% 0.79%Families 1.26% 1.44% 0.71%Owner HHs 1.96% 2.06% 1.16%Median Household Income 2.51% 2.45% 2.50%

    2018 2023 Households by Income Number Percent Number Percent