acant corner Former FFering Sun · 2018-06-02 · ± 57,110 SF seven building ± 8.23 acre former...

SunCommercial Real Estate, Inc.

Vacant Hard corner Former car dealersHip|oFFering memorandum

±8.23 Acres | ±57,110 SF across Seven Buildings |C-2 Zoning2025 E. Sahara Avenue, Las Vegas, Nevada 89104

Roy FritzSenior Vice President

[email protected]

Cathy Jones, CPA, SIOR, CCIMCEO

[email protected]

Taylor VasquezAssociate

[email protected]

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

Jessica CegavskeVice President702-968-7321

[email protected]

Paul MiachikaExecutive Vice President

[email protected]

contacts

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3 The above information has been obtained from sources we believe to be reliable, however we do not take responsibility for its correctness

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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.

Cathy Jones, CPA, SIOR, [email protected]

conFidentiality & disclosure


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Investment HighlightsProperty SummaryProperty PhotosSite PlanSurrounding AerialAssessor Parcel MapLas Vegas Valley Location MapOpportunity Zone - Henderson Map

Las Vegas Valley Overview Section 3

Market Overview Section 2

Las Vegas Office & Southeast Las Vegas/Henderson Submarket ReviewArea Demographics

Investment Overview Section 1

table oF contents


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einVestment HigHligHts

THE OFFERING

Sun Commercial Real Estate, Inc. is pleased to offer an exceptional owner/user or value-add investor opportunity to purchase a ± 57,110 SF seven building ± 8.23 acre former new & used car dealership located in the heart of the auto dealership row on East Sahara Avenue. The offering includes the main showroom and service area, two body shop buildings, one additional service building, two office buildings and one storage building. The ± 5.1 acre secured rear yard is being used for storage.

INVESTMENT HIGHLIGHTS

• Owner User or Value-Add Opportunity – Vacant ± 57,110 SF across (7) seven buildings located on ± 8.23 Acres • Former Used Car Dealership – Former used car dealership located on Car Dealership Row on E. Sahara • Rare Oversized Lot – Oversized lot of ± 8.23 acres provides Buyers and Tenants Maximum Flexibility in Potential Uses at the site• Secure Yard - Fenced secured ± 5.1 acre rear yard• Car Row Location - On Sahara Car Row in Central East Las Vegas Sub-market near The Strip & McCarran Airport• Strong & Improving Sub-Market - The sub-market vacancy rate has been steadily improving and is currently at 10.7%• Hard Corner - Hard corner location with 297 feet of frontage along busy East Sahara Avenue • Free & Clear - Offered free and clear of existing debt

Asking Price:

Lot Size (Net):

$8,950,000 ($157 PSF)

± 57,110 SF ± 8.23 Acres

SUMMARY

Total Square Footage:

Zoning: C-2

Occupancy: Vacant

Ownership: Fee SimpleNumber of Buildings: Seven (7)


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Property Location:

Property Description:

Assessor Parcel Number:

2017/2018 Property Taxes:

Site Size:

Combined Building Sizes:

Zoning:

Front Parking Area:

Construction Type:

Construction Year:

Traffic Counts:

The Property is located on East Sahara Avenue, west of South Eastern Avenue, having the civic address of 2025 East Sahara Avenue, Las Vegas, Nevada. The property is located in the East Sahara Car Dealership Row.As of 2018, there were 549,881 residents within a 5-mile radius with an median household income of $36,007.

The Property is a former new & used car dealership that includes seven (7) buildings located on 8.23 acres. The current owner has made substantial improvements to the property including fully sprinkling the showroom and adding extensive power in the rear yard.

The site include: the main showroom and service area, two body shop building, one additional service building, two office buildings and one storage building.

162-11-502-003

$29,404.18

± 8.23 Acres

Total ± 57,110 SF

Showroom & Service Area: 35,050 SF (inclusive of 2,770 SF of Mezzanine)Office Building 1: 3,975 SFOffice Building 2: 2,870 SFBody Shop 1: 5,570 SFBody Shop 2: 3,975 SFService Building: 5,125 SFStorage Building: 385 SFDrop Off Booth: 160 SF

C-2 (General Commercial - Clark County)

182 Surface Parking Spaces

Masonry

2000 - upgraded in 2011 (added sprinklered main showroom and added power to the rear yard)

On E. Sahara Avenue, W. of Burnham Avenue: ± 41,325 CPD

property summary


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MAIN BUILDING35,050 SQ FT TOTAL

2570 BRUCE STREET

OFFICE BUILDING 22,870 SQ FT

BODY SHOP BUILDING 15,570 SQ FT

BODY SHOP BUILDING 23,975 SQ FT

SERVICE BUILDING5,125 SQ FT

OFFICE BUILDING 13,975 SQ FT

STORAGE BUILDING385 SQ FT

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DROP OFF BOOTH160 TOTAL SQ FT

Showroom & Service Area: 35,050 SF (inclusive of 2,770 SF of Mezzanine)Office Building 1: 3,975 SFOffice Building 2: 2,870 SFBody Shop 1: 5,570 SFBody Shop 2: 3,975 SFService Building: 5,125 SFStorage Building: 385 SFDrop Off Booth: 160 SF

Total: ± 57,110 SF


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eassessor parcel map

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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

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

ASSESSOR'S PARCELS - CLARK CO., NV.

Scale: 1" = 200' 2/10/2015

T21S R61E 11 N 2 NE 4 162-11-5

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149.611

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BRUCE STREET MEDICAL BUILDING

PB 148-04

173.

33514"D"

001

020019 023022018 021

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007006005004003002

031003

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See Condo List Page

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See Condo List Page

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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' 2/10/2015

T21S R61E 11 N 2 NE 4 162-11-5

31

30

19

1

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121110987

6 5 4 3 2

3635343332

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24

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23222120

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.

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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

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8 4

Rev:

TAX DIST

0 200 400 600 800100 SECTION LINE

CONDOMINIUM UNITAIR SPACE PCLRIGHT OF WAY PCLSUB-SURFACE PCL

176

124125

141138 139

161162163

179177 178

123 122

160

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Michele W. Shafe - Assessor


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elas Vegas Valley location map


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eopportunity Zone - unlV/stadium/airport

The Opportunity Zones program offers three tax benefits for investing in low-income communities through a qualified Opportunity Fund:

1. A temporary deferral of inclusion in taxable income for capital gains reinvested in an Opportunity Fund. The deferred gain must be recognized on the earlier of the date on which the opportunity zone investment is disposed of or December 31, 2026.

2. A step-up in basis for capital gains reinvested in an Opportunity Fund. The basis is increased by 10% if the investment in the Opportunity Fund is held by the taxpayer for at least 5 years and by an additional 5% if held for at least 7 years, thereby excluding up to 15% of the original gain from taxation.

3. A permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in an Opportunity Fund if the investment is held for at least 10 years. This exclusion only applies to gains accrued after an investment in an Opportunity Fund.

Once certified by the Secretary of Treasury, an Opportunity Zone designation lasts until December 31, 2026.

Satellite

UNLV / Stadium / Airport Opportunity Zone


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elas Vegas retail &

central east las Vegas submarket reView

8 CoStar Retail Statistics ©2018 CoStar Group, Inc.

Las Vegas � First Quarter 2018

Las Vegas Retail MarketFirst Quarter 2018 – Las Vegas

Las Vegas Retail Market

©2018 CoStar Group, Inc. CoStar Retail Statistics 9

General Retail Market Statistics First Quarter 2018

YTD Net YTD Under Quoted

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

Central East Las Vegas Ret 642 5,294,418 338,779 443,216 8.4% (4,228) 0 0 $13.48

Central West Las Vegas Ret 704 6,251,641 131,732 131,732 2.1% (22,803) 9,000 78,600 $16.67

East Las Vegas Ret 305 2,088,303 31,589 31,589 1.5% (248) 0 90,000 $20.41

North Las Vegas Ret 262 1,831,875 41,817 41,817 2.3% 18,855 15,256 62,965 $19.66

Northeast Las Vegas Ret 466 2,749,314 267,552 274,552 10.0% (206,032) 0 0 $16.62

Northwest Las Vegas Ret 152 1,815,894 28,344 28,344 1.6% (17,016) 3,344 4,500 $14.50

Outlying NE Clark Cnty Ret 79 953,583 36,869 36,869 3.9% 385 0 0 $12.52

Outlying NW Clark Cnty Ret 3 8,572 0 0 0.0% 0 0 0 $0.00

Outlying S Clark Cnty Ret 23 87,583 0 0 0.0% 0 0 0 $0.00

Resort Corridor Ret 317 3,639,779 155,227 155,227 4.3% (24,857) 0 0 $25.22

Southeast Las Vegas Ret 530 5,073,717 136,799 139,103 2.7% 41,654 5,400 94,085 $19.49

Southwest Las Vegas Ret 283 2,713,393 59,080 64,949 2.4% 4,948 22,027 109,366 $29.72

West Las Vegas Ret 180 2,239,598 46,355 46,355 2.1% (88) 0 0 $30.97

Totals 3,946 34,747,670 1,274,143 1,393,753 4.0% (209,430) 55,027 439,516 $18.60

Source: CoStar Property®

Mall Market Statistics First Quarter 2018


Market # Ctrs Total GLA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates

Central East Las Vegas Ret 5 2,742,317 210,760 210,760 7.7% 0 0 0 $15.62

Central West Las Vegas Ret 1 970,304 9,265 9,265 1.0% 24,172 0 0 $0.00

East Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

North Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

Northeast Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

Northwest Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

Outlying NE Clark Cnty Ret 0 0 0 0 0.0% 0 0 0 $0.00

Outlying NW Clark Cnty Ret 0 0 0 0 0.0% 0 0 0 $0.00

Outlying S Clark Cnty Ret 0 0 0 0 0.0% 0 0 0 $0.00

Resort Corridor Ret 3 2,951,697 0 0 0.0% 0 0 0 $0.00

Southeast Las Vegas Ret 3 1,600,250 46,098 46,098 2.9% (1,148) 0 0 $41.88

Southwest Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

West Las Vegas Ret 3 1,171,146 98,373 98,373 8.4% (3,125) 0 0 $27.00

Totals 15 9,435,714 364,496 364,496 3.9% 19,899 0 0 $18.40


Power Center Market Statistics First Quarter 2018



Central East Las Vegas Ret 1 622,094 59,260 59,260 9.5% 29,909 0 0 $12.12

Central West Las Vegas Ret 2 1,042,228 83,792 83,792 8.0% (64,976) 0 0 $0.00

East Las Vegas Ret 2 944,605 42,091 42,091 4.5% (1,280) 0 0 $14.66

North Las Vegas Ret 5 1,828,599 147,964 147,964 8.1% 2,140 0 0 $19.57

Northeast Las Vegas Ret 1 350,554 4,000 4,000 1.1% 0 0 0 $0.00

Northwest Las Vegas Ret 3 1,301,218 57,725 57,725 4.4% 0 0 0 $24.96



Outlying S Clark Cnty Ret 0 0 0 0 0.0% 0 0 0 $0.00

Resort Corridor Ret 1 959,065 149,993 149,993 15.6% (9,422) 0 0 $30.30

Southeast Las Vegas Ret 5 2,147,965 58,174 58,174 2.7% 0 0 0 $27.45

Southwest Las Vegas Ret 4 4,133,999 107,842 110,242 2.7% (3,028) 0 0 $20.74


Totals 28 15,341,349 811,169 813,569 5.3% (67,776) 0 0 $20.42


Existing Inventory Vacancy



Figures at a Glance



Las Vegas Retail MarketFirst Quarter 2018 – Las Vegas



Shopping Center Market Statistics First Quarter 2018



Central East Las Vegas Ret 155 6,994,064 879,194 987,354 14.1% (45,593) 0 0 $14.10

Central West Las Vegas Ret 200 9,060,108 791,517 851,912 9.4% (19,085) 0 0 $14.50

East Las Vegas Ret 56 2,528,033 202,529 213,729 8.5% (6,792) 0 0 $16.83

North Las Vegas Ret 74 5,646,258 404,258 468,177 8.3% 119,941 0 50,000 $13.92


Northwest Las Vegas Ret 52 3,746,433 267,909 270,582 7.2% 29,793 65,200 23,722 $20.15

Outlying NE Clark Cnty Ret 10 459,275 63,520 63,520 13.8% (9,487) 0 0 $14.56


Outlying S Clark Cnty Ret 3 146,296 55,318 55,318 37.8% (4,318) 0 0 $1.02

Resort Corridor Ret 22 426,428 18,249 18,249 4.3% 2,150 0 0 $30.04

Southeast Las Vegas Ret 183 11,959,944 1,151,373 1,275,475 10.7% 160,664 26,943 25,000 $16.67

Southwest Las Vegas Ret 102 3,938,502 275,249 275,249 7.0% 39,048 0 16,940 $19.55

West Las Vegas Ret 81 4,818,954 369,194 369,194 7.7% 6,074 0 0 $18.48

Totals 1,027 53,372,452 4,802,962 5,222,093 9.8% 214,504 92,143 115,662 $15.90


Specialty Center Market Statistics First Quarter 2018



Central East Las Vegas Ret 1 182,863 0 0 0.0% 0 0 0 $0.00

Central West Las Vegas Ret 2 284,316 0 0 0.0% 0 0 0 $0.00

East Las Vegas Ret 1 10,000 0 0 0.0% 0 0 0 $0.00

North Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

Northeast Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

Northwest Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00



Outlying S Clark Cnty Ret 2 622,071 48,193 48,193 7.7% 8,070 0 0 $30.54

Resort Corridor Ret 3 1,194,078 143,688 143,688 12.0% 0 0 0 $18.90

Southeast Las Vegas Ret 2 592,455 57,514 57,514 9.7% 10,736 0 0 $16.43

Southwest Las Vegas Ret 0 0 0 0 0.0% 0 0 0 $0.00

West Las Vegas Ret 1 74,069 4,912 4,912 6.6% 0 0 0 $19.80

Totals 12 2,959,852 254,307 254,307 8.6% 18,806 0 0 $18.97


Total Retail Market Statistics First Quarter 2018


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

Central East Las Vegas Ret 1,058 15,835,756 1,487,993 1,700,590 10.7% (19,912) 0 0 $14.13

Central West Las Vegas Ret 1,204 17,608,597 1,016,306 1,076,701 6.1% (82,692) 9,000 78,600 $14.73

East Las Vegas Ret 486 5,570,941 276,209 287,409 5.2% (8,320) 0 90,000 $16.99

North Las Vegas Ret 630 9,306,732 594,039 657,958 7.1% 140,936 15,256 112,965 $15.20


Northwest Las Vegas Ret 394 6,863,545 353,978 356,651 5.2% 12,777 68,544 28,222 $19.53

Outlying NE Clark Cnty Ret 100 1,412,858 100,389 100,389 7.1% (9,102) 0 0 $13.64

Outlying NW Clark Cnty Ret 3 8,572 0 0 0.0% 0 0 0 $0.00

Outlying S Clark Cnty Ret 31 855,950 103,511 103,511 12.1% 3,752 0 0 $21.31

Resort Corridor Ret 383 9,171,047 467,157 467,157 5.1% (32,129) 0 0 $26.21

Southeast Las Vegas Ret 1,279 21,374,331 1,449,958 1,576,364 7.4% 211,906 32,343 119,085 $17.52

Southwest Las Vegas Ret 666 10,785,894 442,171 450,440 4.2% 40,968 22,027 126,306 $21.27


Totals 7,463 115,857,037 7,507,077 8,048,218 6.9% (23,997) 147,170 555,178 $16.80





Figures at a Glance


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central east las Vegas submarket reView





First Quarter 2018 – Las Vegas

Las Vegas Retail MarketMarket Highlights – Class “A, B & C”

C e n t r a l E a s t L a s V e g a s M a r k e t

Deliveries, Absorption & Vacancy Historical Analysis, All Classes


Vacant Space Quoted Rental RatesHistorical Analysis, All Classes Historical Analysis, All Classes

Source: CoStar Property® Source: CoStar Property®

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

2018 1q 1,058 15,835,756 1,700,590 10.7% (19,912) 0 0 0 0 $14.13

2017 4q 1,058 15,835,756 1,680,678 10.6% 221,127 1 3,600 0 0 $14.08

2017 3q 1,057 15,832,156 1,898,205 12.0% 90,110 0 0 1 3,600 $14.06

2017 2q 1,057 15,832,156 1,988,315 12.6% (70,192) 0 0 0 0 $14.04

2017 1q 1,057 15,832,156 1,918,123 12.1% (87,587) 1 14,160 0 0 $13.72

2016 4q 1,056 15,817,996 1,816,376 11.5% 29,538 2 20,240 1 14,160 $13.35

2016 3q 1,054 15,797,756 1,825,674 11.6% 77,556 0 0 3 34,400 $13.41

2016 2q 1,054 15,797,756 1,903,230 12.0% 105,788 1 6,430 2 20,240 $13.14

2016 1q 1,052 15,782,146 1,993,408 12.6% (85,994) 0 0 4 35,850 $13.10

2015 4q 1,052 15,782,146 1,907,414 12.1% 92,656 2 45,864 4 35,850 $12.91

2015 3q 1,050 15,736,282 1,954,206 12.4% 39,873 1 2,129 5 72,534 $12.75

2015 2q 1,049 15,734,153 1,991,950 12.7% (5,411) 0 0 5 71,583 $12.64

2015 1q 1,048 15,732,178 1,984,564 12.6% (68,894) 1 60,000 5 71,429 $12.26

2014 4q 1,047 15,672,178 1,855,670 11.8% (2,380) 0 0 4 107,839 $13.96

2014 3q 1,048 15,675,026 1,856,138 11.8% (838) 0 0 2 100,000 $14.62

2014 2q 1,049 15,680,246 1,860,520 11.9% (3,534) 1 40,258 1 60,000 $14.75


UC InventoryDelivered InventoryExisting Inventory Vacancy

(0.150)

(0.100)

(0.050)

0.000

0.050

0.100

0.150

0.200

0.250

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

9.5%

10.0%

10.5%

11.0%

11.5%

12.0%

12.5%

13.0%

Delivered SF Absorption SF Vacancy

$13.50

$13.60

$13.70

$13.80

$13.90

$14.00

$14.10

$14.20

2017 1q 2017 3q 2018 1q

Dollars

/SF/Y

ear

0.00

0.50

1.00

1.50

2.00

2.50

2017 1q 2017 2q 2017 3q 2017 4q 2018 1q

Direct SF Sublet SF


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KEY FACTS

26,416Population

35.93.0

AverageHousehold Size

$34,261Median Household

Income

INCOME


Income

$16,219Per Capita Income

$15,632Median Net Worth

KEY FACTS

26,41635.9

Median Age

8,639Households

$29,556Median Disposable Income

1,6001,2008004000

HOUSEHOLD INCOME

200000+

150000-199999

100000-149999

75000-99999

50000-74999

35000-49999

25000-34999

15000-24999

0-14999

EDUCATION

31%

No HighSchool

Diploma 33%High School

Graduate

24%Some College 11%

Bachelor's/Grad/ProfDegree

EMPLOYMENT

35%White Collar

17%Blue Collar

47%Services

8.1%

UnemploymentRate


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KEY FACTS

211,922Population

36.72.6



Income

INCOME


Income



KEY FACTS

211,92236.7

Median Age

78,646Households


16,00012,0008,0004,0000

HOUSEHOLD INCOME

200000+

150000-199999

100000-149999

75000-99999

50000-74999

35000-49999

25000-34999

15000-24999

0-14999

EDUCATION

28%

No HighSchool


Graduate

28%Some College 13%


EMPLOYMENT

39%White Collar

19%Blue Collar

42%Services

8.1%

UnemploymentRate


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KEY FACTS

549,881Population

34.42.9



Income

INCOME


Income



KEY FACTS

549,88134.4

Median Age

188,147Households


30,00020,00010,0000

HOUSEHOLD INCOME

200000+

150000-199999

100000-149999

75000-99999

50000-74999

35000-49999

25000-34999

15000-24999

0-14999

EDUCATION

28%

No HighSchool


Graduate

27%Some College 13%


EMPLOYMENT

40%White Collar

22%Blue Collar

38%Services

7.9%

UnemploymentRate


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$13.6 Billion in New Capital Investment is Driving Growth

1. Resorts World Las Vegas - $4.0 Billion 2. Las Vegas Stadium - $1.9 Billion

• $4 billion Strip resort project with a heavy Asian theme began construction in 2017. • Resorts World, 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 2020, the initial phase will have 3,100 rooms, a 100,000-square-foot casino, shops and restaurants spread across its 88-acre site.

• The Oakland Raiders will move to Las Vegas for the 2020 NFL season. • The groundbreaking ceremony took place in November 2017 for a new $1.9 billion stadium just west of the Strip. • The venue’s horse-shoe shape, designed by Manica Architecture, would accommodate 65,000 spectators, 8,000 cars, tailgating amenities and mixed-use commercial facilities. • The design shows a retractable natural turf field. • This venue would also allow Las Vegas to host the annual Super Bowl.

1

2

34

5

6

7

8

910


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3. Wynn Paradise Park - $1.5 Billion

5. Union Village - $1.2 Billion

4. Convention Center Expansion - $1.4 Billion

6. Switch - $1 Billion

• Wynn Resorts Ltd. is building its third hotel behind its two Las Vegas casinos, an ambitious Carnivale themed project called Wynn Paradise. • The $1.5 billion resort will take the place of the golf course and feature 1,500 rooms around a 38-acre lagoon, a small casino, restaurants and nightclubs. • The lake will have a white sandy beach, a boardwalk, water skiing, paddle boating, zip lines/gondola, and nightly fireworks.• Heavy duty construction should begin by spring 2018 with a 2020 debut.

• Union Village will be the first Integrated Health Village in the world, and is listed as the largest healthcare building project in the United States. • The $1.2 billion dollar, 155-acre planned development not only covers healthcare, but retail, entertainment, and senior living as well. • Approximately 355,000 square feet have been completed, totaling $300 million in work, with another 476,000 square feet to be under construction soon.

• Las Vegas Convention Center will be renovated and expanded into a $1.4 billion Las Vegas Global Business District. • Planned in four phases, new facilities will replace the 26-acre Riviera Hotel site, adding ±1.4 million square-feet of exhibit and meeting space. • Phase Two of the project is projected to be completed in 2020.• Expected to draw an additional 600,000 visitors a year, drive $2.1 billion in economic activity during construction and have an annual economic impact of $810 million when finished.

• Switch is a globally recognized leader in future-proof data center design, superscale cloud, unparalleled telecom gateways and energy sustainability. • Its Southern Nevada expansion includes a $1 billion data storage site on 200 acres near its two existing data storage facilities at South Jones Boulevard and the 215 Beltway. • Idea to link 50 million people within 14 milliseconds of data hosted at each of the company’s data hubs via a superloop of fiber optic cable connecting its Reno and Las Vegas supernaps sites, with a planned facilities in LA and SF.


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7. Project Neon - $1 Billion

9. Palms Renovation - $485 Million

8. Extreme Sports Park - $800 Million

10. Park MGM (Former Monte Carlo) - $450 Million

• Project Neon is the largest public works project in Nevada history. • $1 billion effort to redesign and widen Interstate 15 from the U.S. Highway 95 interchange to Sahara Avenue by July 2019. • Currently this road is the busiest stretch of highway in Nevada with 300,000 vehicles daily. Traffic through the corridor is expected to double by 2035.

• Station Casinos will enhance nearly every feature of the resort by investing $485 million in improvements. • Plans include redesigned/renovated hotel rooms, 60 new hotel rooms, 29,000 square foot nightclub, new 73,000 square foot pool club, several celebrity chef restaurants, new spa, meeting/convention space, new covered parking spaces, refresh of the Pearl Theater, renovated casino floor, and a new front desk registration area to name a few. • First phase underway and the second phase is expected to be completed by early 2019.

• Josh Kearney’s $800M extreme sports park called The Edge received county approval in 2017. • 130-acre at the SEC of Las Vegas Boulevard and Sunset Road, adjacent to Town Square Las Vegas, a 1.2M SF class A open air shopping, dining, office and entertainment center.• The Park is expected to have surfing/wake boarding/rock climbing/mountain biking/indoor skydiving/bungee jumping/zip lines and a 15-story, 640 room hotel with a casino, convention space, restaurants and two rooftop pools. • Project will take approximately 2.5 years to complete.

• A transformation occurring in Las Vegas is the conversion of the Monte Carlo into two hotels: a 2,700-room luxury resort Park MGM and a 292-room hotel NoMad Las Vegas. • This $450 million makeover is projected to be completed by the end of 2018. • The new resort will feature two hotels, redesigned rooms, an Italian market Eataly with cafes, walk-up counters and dine-in restaurants. • The properties will have amenities such as dining and casinos as well as a 5,300-seat theater at the Park MGM.

Roy FritzSenior Vice President

[email protected]

Jessica CegavskeVice President702-968-7321

[email protected]

Paul MiachikaExecutive Vice President

[email protected]

Cathy Jones, CPA, SIOR, CCIMCEO

[email protected]

Taylor VasquezAssociate

[email protected]

SunCommercial Real Estate, Inc.

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