3950-3970 las vegas blvd · 2018. 11. 28. · lease comps lease comps summary 42 lease comps...

3950-3970 Las Vegas Blvd

PREPARED BY

Casey Whiting

Broker, Property Mgr.

Underwriting Report

33,600 SF Industrial Warehouse

SUBJECT PROPERTY

Property Details 2

MARKET SUMMARY

North Las Vegas Submarket Summary 7

Las Vegas Market Summary 8

Economic Summary 9

PEER PROPERTIES

Peer Properties Summary 12

Peer Property Photos 14

Peer Property Comparison 16

Peer Property Details 20

LEASING ANALYTICS

Vacancy Analytics 31

Rent Analytics 36

Absorption Analytics 38

Leasing Analytics 39

LEASE COMPS

Lease Comps Summary 42

Lease Comps Details 46

CONSTRUCTION COMPS

Overall Construction Summary 97

Market Construction 98

Submarket Construction 99

Construction Activity 103

Under Construction Summary 108

Under Construction Details 110

Completed Construction Past 12 Months 119

Deliveries Past 12 Months Details 121

SALE COMPS

Sale Comps 137

Sale Comps Detail 141

Sales Volume 150

Sales Pricing 151

Cap Rates 153

Table Of Contents

9/11/2018Copyrighted report licensed to Whiting and Company, Real Estate Advisors -

888211.For more information or to schedule a property tour CALL Casey Whiting

702.250.6504

Subject Property

3950-3970 Las Vegas BlvdLas Vegas, NV 89115 - North Las Vegas Ind

LOCATION

Distance to Airport: -

Distance to Seaport: -

Population 500 Mile Radius: 54,261,321



OWNER

Roger Pitts

Las Vegas Industrial Park

PROPERTY

Type: Warehouse Tenancy: Multi

Park: Las Vegas Industrial Park Construction: Reinforced Concrete

RBA: 33,600 SF Column Spacing: -

Year Built/Renov: 2000 Truck Wells: None

Ceiling Height: 20' Rail Served: None

Docks: - Sprinklers: -

Drive Ins: 6 tot./8'w x 13'h Power: -

Truck Court: - Cranes: None

Land Acres: 2.08 AC Levelators: -

Office: - Taxes: $0.54 (2012)

Parking: 45 free Surface Spaces are available; Ratio of 4.11/1,000 SF

Features: Bus Line

12 MO. LEASING ACTIVITY SF

Subject Property:

Peers Total:

-

164,439

Peers Count: 17

Peers Avg: 9,672

Peer Submarkets Total: 7,304,258

Peer Submarkets Avg: 7,385

ASKING RENT PER SF

Current:

Last Quarter:

-

$0.48

Year Ago: $0.48

Peers: $0.57

Peer Submarkets: $0.46

VACANCY

Current:

Last Quarter:

100%

0%

Year Ago: 43.2%

Peers: 17.2%

Peer Submarkets: 6.5%

AVAILABLE SPACES

Currently No Available Spaces



702.250.6504

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Subject Property

Tenant # Emps Move Date Exp DateFloor SFIndustry

KEY TENANTS

Advanced Training Institute - Jan 2008 -14,895UnkwnPersonal Services

CoStar Research Moving Out Moving In My Data Shared Data

NOTES

Highly configurable and flexible finished office and warehouse space available for lease. We can help you be creative to combine or divide units tocreate the ideal space to meet your needs.

This well maintained and nicely landscaped development sits on 2.08 acres and is comprised of two concrete tilt up buildings totaling 33,126 sf.CAMs at .18 sf.Las Vegas Industrial Park is one of the few industrial/office developments located directly on Las Vegas in Boulevard. Conveniently located near theInterstate Highway 15 and Craig Road, on one of Las Vegas' busiest thoroughfares.

Situated close to Nellis Air Force Base and surrounded by a its thriving military and civilian community, this great high traffic location has plenty ofvisibility for your business



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Page 3

Subject Property

BuildingPrimary

BuildingInterior



702.250.6504

Page 4


PREPARED BY

Casey Whiting


Market Summary


Submarket SummaryNorth Las Vegas Industrial

North Las Vegas is the largest industrial submarket inthe metro and has its largest logistics inventory. Morethan 80% of stock here (roughly 34 million SF) islogistics space, and the submarket contains over 30% ofsuch assets in the metro. The area benefits from thepresence of I-15, as well as the Union Pacific Railroad,which runs parallel to the interstate. Additionally, theNorth Las Vegas Air Terminal lies to the southwest,although McCarran International Airport in BoulderJunction is the larger of the two area airports. Retailerswith local distribution facilities make up the majority oflarge tenants in the submarket, including Amazon andthe Honest Company.

Developers are extremely bullish on the area, with morethan three million SF of supply delivered in 2017 androughly 2,462,986 SF under construction—all of itlogistics space. Persistent demand has allowed strongrent growth to continue, even in the midst of a supply-driven vacancy expansion. The influx of new supply has

put pressure on vacancy rates, however healthy demandin the first half of 2018 has seen vacancies compress toaround 6.1%.

Sales volume in North Las Vegas is off to a healthy startin 2018 after a strong 2017 which totaled approximately$325 million, bolstered by several large deals and a goodnumber of trades. Transaction volume in 2017 received asignificant boost from the December sale of the two-property Northgate Distribution Center portfolio for$124.8 million ($90/SF). GLP US Managementpurchased the approximately 1.4 million SF portfolio fromdeveloper VanTrust Real Estate. Included in the tradewere the 813,000 SF Amazon distribution building andthe 570,000 SF Honest Co. warehouse building.Recently in March 2018, the Phase I and II buildings inthe Lone Mountain Corporate Center were purchased byClarion Partners for a combined $67 million ($96/SF).The buildings were sold by Pauls Real EstateInvestments as part of a 16-property portfolio.

NET ABSORPTION, NET DELIVERIES & VACANCY



702.250.6504

Market SummaryLas Vegas Industrial

The Las Vegas logistics market stands to benefit from itsfavorable location, which enables it to provide overnightservice to both Southern California and large portions ofArizona. The city of Las Vegas legislature passed aresolution in 2009 to promote the metro as a “major WestCoast logistics center” through infrastructureimprovements and by leveraging existing rail lines andair freight facilities. This is part of an effort to diversify thelocal economy, and government officials in North LasVegas have attempted to lure new companies with quickpermitting and financial incentives.

Infrastructure improvements to roadways are ongoing;

the Nevada Department of Transportation began amultiyear, multiphase, $200 million-plus upgrade of U.S.95 in 2010. Also in progress is the $1.5 billion ProjectNeon, which promises to widen 3.7 miles on I-15 andprovide a direct connection between U.S. 95 and I-15while improving the Spaghetti Bowl interchange. ProjectNeon was approximately 75% done as of July, withcompletion set for 2019.

Developers have already inundated the metro,particularly the North Las Vegas Submarket, but healthydemand has helped keep vacancies relatively stable.

NET ABSORPTION, NET DELIVERIES & VACANCY



702.250.6504


Las Vegas’s recovery continues, after getting off to aslow start, bolstered by healthy job and populationgrowth. Annual job growth in the Las Vegas metro hasaveraged around 3% over the past five years, based onnumbers from the U.S. Bureau of Labor Statistics. TheLas Vegas metro has seen steady growth in the numberof people moving to the area this cycle, andapproximately two-thirds of the population growth hascome from in-migration from other parts of the country.

While state and local officials are working to diversify theeconomy, the leisure and hospitality sector remains LasVegas’ primary economic driver. With nearly one in threejobs based in the sector, the metro’s economic successis inherently tied to tourism. Visitor numbers from the LasVegas Convention and Visitors Authority are lookingstrong, with the metro attracting more than 40 millioneach of the past three years, an all-time record. Astrengthening national economy will certainly help LasVegas’s cause as increased disposable incomeencourages even more tourists and attracts visitor dollarsto the metro.

The construction industry has made a strong recoveryrecently after being hit hard by the collapse of thehousing market during the recession. Annualemployment growth in the construction sector over thepast five years has averaged around 10%. However, thenumber of workers still remains at only approximately60% of prerecession levels. The metro employed morethan 110,000 construction workers, or about 12% of the

overall employment base, in 2006; today, constructionmakes up around 6% of employment.

The construction sector is likely to see continued growthover the next few years, with a number of large projectscurrently under way in Las Vegas, most locatedproximate to the Strip. One is the Genting Group’s $4billion Resorts World Las Vegas, with the initial phaseestimated to include around 3,000 rooms and a 100,000-SF casino. That project alone is expected to add 30,000constructions jobs. Two other large hotel projects arealso slated to open in the next couple of years: The DrewLas Vegas (formerly Fontainebleau) with an estimated4,000 rooms and Wynn Las Vegas’s Paradise Park witharound 1,500 rooms.

One of the most significant projects in the metro is thenew 65,000-seat indoor stadium for the Las VegasRaiders that recently broke ground. The Raiders and LasVegas Stadium Authority are partnering to build thestadium, which is estimated to open for the 2020 season.As of mid-2018, there are around 500 constructionworkers on site, but it is expected to eventually employabout 1,500 workers when the project hits its peak. Thestate-backed economic impact report on the stadium isestimating a total economic output of $620 million, aswell as $35 million new tax dollars each year. Thoseprojections are based on the stadium hosting 46 eventsper year and drawing 451,417 new visitors. The reportalso estimates that the stadium would create anadditional 5,982 permanent jobs throughout the region.

LAS VEGAS EMPLOYMENT BY INDUSTRY IN THOUSANDS

NAICS Industry Jobs LQ MarketUS USMarketUSMarket

Current Jobs Current Growth 10 Yr Historical 5 Yr Forecast

-1.28%-0.30%-0.52%-0.45%2.16%4.91%0.324Manufacturing

0.26%0.87%0.57%1.05%1.19%2.62%1.0179Trade, Transportation and Utilities

0.29%0.80%0.45%1.05%0.72%2.41%1.0111 Retail Trade

0.67%1.73%0.44%0.86%1.32%1.32%0.951Financial Activities

0.51%0.86%-0.10%0.38%-0.01%3.12%0.7106Government

1.47%2.32%0.03%-3.40%4.07%10.84%1.266Natural Resources, Mining and Construction

1.13%2.78%2.07%4.22%1.87%4.18%0.6101Education and Health Services

1.29%1.67%1.71%2.31%2.53%1.25%1.0141Professional and Business Services

0.08%0.49%-0.69%-0.11%-0.49%-4.89%0.611Information

1.13%2.23%2.00%0.94%1.89%2.19%2.7295Leisure and Hospitality

0.31%0.77%0.62%2.58%1.59%5.13%0.833Other Services

Total Employment 1,008 1.0 2.99% 1.63% 0.99% 0.83% 1.68% 0.65%

Source: Moody's Analytics

LQ = Location Quotient



702.250.6504


Source: Moody’s Analytics

YEAR OVER YEAR JOB GROWTH

DEMOGRAPHIC TRENDS

Current ChangeCurrent Level

Metro U.S.Metro U.S.Demographic Category

10-Year Change Forecast Change (5 Yrs)

Metro U.S. Metro U.S.

Population 328,498,6572,268,810 2.4% 0.7% 1.7% 0.8% 2.4% 0.6%

Households 126,474,227829,823 2.6% 1.1% 1.5% 0.8% 2.7% 1.1%

Median Household Income $61,703$59,183 6.1% 3.5% 0.4% 1.7% 2.5% 2.8%

Labor Force 162,208,6641,100,980 2.4% 1.0% 1.1% 0.5% 1.8% 0.8%

Unemployment 3.9%5.0% -0.2% -0.4% -0.2% -0.2% - -

Source: Moody’s Analytics

POPULATION GROWTH

Source: Moody's Analytics

LABOR FORCE GROWTH INCOME GROWTH



702.250.6504


PREPARED BY

Casey Whiting


Peer Properties


Peer Properties Summary3950-3970 Las Vegas Blvd

Total Peers

17Peers w/Availability

17Asking Rent

$0.57Vacancy Rate

17.2%Bldgs with Vacancy

15PEER LOCATIONS

PEER SUMMARY STATISTICS

Property Attributes Low Average Median High

Building SF 18,858 39,885 43,692 66,000

Year Built 1997 2003 2004 2008

Ceiling Height 12' 20' 20' 28'

Docks 0 7 4 20

Typical Floor SF 18,858 39,885 43,692 66,000

Vacancy Rate 0% 17.2% 12.6% 79.8%

Availability Rate 3.3% 17.0% 13.0% 79.8%

Star Rating 2.7

Available Space Attributes Low Average Median High

Space SF 1,465 6,786 5,707 17,610

Asking Rent Per SF $0.06 $0.57 $0.58 $0.85

Months On Market 0.4 4.1 2.4 20.1



702.250.6504

Peer Properties Summary3950-3970 Las Vegas Blvd

Property Name / Address Rating Yr. Built RBA Ceiling Ht Avail SF Avail %

Property

Spaces

Availability & Vacancy

Vac% Asking Rent/SFDocks

2000-3950-3970 Las Vegas Blvd

33,600 20' - 0%- 0% --

PEERS WITH AVAILABILITY

2006-1 Bldg B57,017 18'-24' 4,837 8.5%

730 W Cheyenne Ave3 8.5% $0.8513

2004-2 3,828 SF w/ 2 Docks imm…41,500 17' 4,646 11.2%

4535 Statz St1 11.2% $0.7820

2004-3 Harsch Cheyenne Comm…44,680 18' 5,822 13.0%

570 W Cheyenne Ave2 19.7% $0.701

1997-4 Bldg A58,191 22' 5,050 8.7%

4310 Losee Rd1 8.7% $0.6810

2008-5 A,B,C31,400 22'-24' 11,460 36.5%

6226-6234 E Tropical Pky1 36.5% $0.68-

2006-6 Bldg A44,651 18' 1,465 3.3%

720 W Cheyenne Ave1 3.3% $0.651

2008-7 Bldg 319,858 19'-20' 4,382 22.1%

3660 N 5th St2 0% $0.625

2008-8 Bldg 119,248 19'-20' 2,907 15.1%

3640 N 5th St1 15.1% $0.622

1997-9 Bldg B66,000 22' 6,440 9.8%

4336 Losee Rd1 9.8% $0.5820

2008-10 Bldg 618,858 19'-20' 7,050 37.4%

3680 N 5th St1 61.7% $0.58-

2008-11 Bldg 419,248 19'-20' 15,364 79.8%

3670 N 5th St2 79.8% $0.55-

1997-12 GBS Two60,800 20' 17,610 29.0%

4724 Mitchell St1 29.0% $0.548

1999-13 4114 N Pecos Rd43,692 20' 10,099 23.1%1 23.1% $0.5013

2008-14 Walnut Business Park45,200 22' 5,707 12.6%

3020 N Walnut Rd1 12.6% $0.49-

1998-15 Bldg K57,699 12'-28' 7,592 13.2%

6845 Speedway Blvd1 13.2% $0.463

2001-16 Bldg C20,000 20' 1,645 8.2%

595 E Brooks Ave1 0% $0.061

2001-17 Bldg D30,000 20' 3,300 11.0%

537 E Brooks Ave1 11.0% $0.067

17 Sub-Totals 678,042 22 115,376



702.250.6504



















Harsch Cheyenne570 W Cheyenne Ave

44,680 SF / Ceiling Ht 18'

Owner: Harsch Investment Properties

Rent/SF $0.70, Vacancy 19.7%

33,828 SF w/ 2 Docks4535 Statz St


Owner: Petersen Management


2Bldg B730 W Cheyenne Ave

57,017 SF / Ceiling Ht 18'-24'



1

Bldg A720 W Cheyenne Ave




6A,B,C6226-6234 E Tropical Pky

31,400 SF / Ceiling Ht 22'-24'

Owner: Bushala Brothers, Inc.


5Bldg A4310 Losee Rd


Owner: Creative Wealth Strategies…


4

Bldg B4336 Losee Rd


Owner: Creative Wealth Strategies…


9Bldg 13640 N 5th St

19,248 SF / Ceiling Ht 19'-20'

Owner: Meldrum Group



19,858 SF / Ceiling Ht 19'-20'

Owner: North Fifth Properties, LLC

Rent/SF $0.62, Vacancy 0%

7

Peer Property Photos3950-3970 Las Vegas Blvd



702.250.6504

GBS Two4724 Mitchell St


Owner: Continental Fidelity Corpor…



19,248 SF / Ceiling Ht 19'-20'

Owner: North Fifth Properties, LLC



18,858 SF / Ceiling Ht 19'-20'

Owner: Meldrum Group


10

Bldg K6845 Speedway Blvd

57,699 SF / Ceiling Ht 12'-28'



15Walnut Business Park3020 N Walnut Rd


Owner: MCA Walnut LLC


144114 N Pecos Rd


Owner: Urban Land of Nevada


13

3950-3970 Las Vegas


Owner: Las Vegas Industrial Park;…

Rent/SF -, Vacancy 100%

Subject Property

Bldg D537 E Brooks Ave




17Bldg C595 E Brooks Ave



Rent/SF $0.06, Vacancy 0%

16

Peer Property Photos3950-3970 Las Vegas Blvd



702.250.6504

Property Name/Address Rating Asking Rent Per SF Vacancy Rate

Bldg B

730 W Cheyenne Ave1 $0.85 8.5%

3,828 SF w/ 2 Docks imm…

4535 Statz St2 $0.78 11.2%

Harsch Cheyenne Comm…

570 W Cheyenne Ave3 $0.70 19.7%

Bldg A

4310 Losee Rd4 $0.68 8.7%

A,B,C

6226-6234 E Tropical Pky5 $0.68 36.5%

Bldg A

720 W Cheyenne Ave6 $0.65 3.3%

Bldg 3

3660 N 5th St7 $0.62 0%

Bldg 1

3640 N 5th St8 $0.62 15.1%

Bldg B

4336 Losee Rd9 $0.58 9.8%

Bldg 6

3680 N 5th St10 $0.58 61.7%

Bldg 4

3670 N 5th St11 $0.55 79.8%

GBS Two

4724 Mitchell St12 $0.54 29%

4114 N Pecos Rd13 $0.50 23.1%

Walnut Business Park

3020 N Walnut Rd14 $0.49 12.6%

Bldg K

6845 Speedway Blvd15 $0.46 13.2%

Bldg C

595 E Brooks Ave16 $0.06 0%

Bldg D

537 E Brooks Ave17 $0.06 11%


Average

(Arrows indicate trend over last quarter)

Withheld 100%

21.1%$0.57

Peer Property Comparison3950-3970 Las Vegas Blvd



702.250.6504




















Property Name/Address Rating Availability Rate Vacancy Rate

3950-3970 Las Vegas Blvd100% 100%

Bldg 4

3670 N 5th St11 79.8% 79.8%

Bldg 6

3680 N 5th St10 37.4% 61.7%

A,B,C

6226-6234 E Tropical Pky5 36.5% 36.5%

GBS Two

4724 Mitchell St12 29% 29%

4114 N Pecos Rd13 23.1% 23.1%

Bldg 3

3660 N 5th St7 22.1% 0%

Bldg 1

3640 N 5th St8 15.1% 15.1%

Bldg K

6845 Speedway Blvd15 13.2% 13.2%


570 W Cheyenne Ave3 13% 19.7%


3020 N Walnut Rd14 12.6% 12.6%


4535 Statz St2 11.2% 11.2%

Bldg D

537 E Brooks Ave17 11% 11%

Bldg B

4336 Losee Rd9 9.8% 9.8%

Bldg A

4310 Losee Rd4 8.7% 8.7%

Bldg B

730 W Cheyenne Ave1 8.5% 8.5%

Bldg C

595 E Brooks Ave16 8.2% 0%

Bldg A

720 W Cheyenne Ave

Average


6 3.3% 3.3%

21.1%20.9%



702.250.6504




















Property Name/Address Rating Asking Rent Per SF Median Months on Market

Bldg B

730 W Cheyenne Ave1 $0.85 7


4535 Statz St2 $0.78 1


570 W Cheyenne Ave3 $0.70

Bldg A

4310 Losee Rd4 $0.68

A,B,C

6226-6234 E Tropical Pky5 $0.68

Bldg A

720 W Cheyenne Ave6 $0.65 3

Bldg 3

3660 N 5th St7 $0.62 5

Bldg 1

3640 N 5th St8 $0.62 6

Bldg B

4336 Losee Rd9 $0.58

Bldg 6

3680 N 5th St10 $0.58 20

Bldg 4

3670 N 5th St11 $0.55 5

GBS Two

4724 Mitchell St12 $0.54 2

4114 N Pecos Rd13 $0.50 1


3020 N Walnut Rd14 $0.49 7

Bldg K

6845 Speedway Blvd15 $0.46 7

Bldg C

595 E Brooks Ave16 $0.06 1

Bldg D

537 E Brooks Ave17 $0.06 1


Average


Withheld

4$0.57



702.250.6504




















Property Name/Address Rating 12 Mo. Leasing Activity in Thousand SF 12 Mo. Net Absorption in Thousand SF

Bldg B

4336 Losee Rd9 33 7

GBS Two

4724 Mitchell St12 30 13


570 W Cheyenne Ave3 20 (9)


3020 N Walnut Rd14 18 (6)

Bldg A

720 W Cheyenne Ave6 15 4

Bldg A

4310 Losee Rd4 11 0

Bldg 6

3680 N 5th St10 9 7

Bldg K

6845 Speedway Blvd15 8 (8)

Bldg B

730 W Cheyenne Ave1 5 6

Bldg C

595 E Brooks Ave16 5 2


4535 Statz St2 4 (5)

Bldg 3

3660 N 5th St7 3 0

Bldg D

537 E Brooks Ave17 3 0

A,B,C

6226-6234 E Tropical Pky5 0 0

Bldg 1

3640 N 5th St8 0 (3)

4114 N Pecos Rd13 0 (10)

Bldg 4

3670 N 5th St11 0 (15)


Average

0 (25)

(2)9



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Peer Property Detail With Availability3950-3970 Las Vegas Blvd

730 W Cheyenne Ave - Bldg BNorth Las Vegas, NV 89030 - Distance to Subject Property: 4.7 Miles

1

COMPARISON

Vacancy %: 8.5% 100%

Available SF: 4,837 0

Asking Rent: $0.85/SF/Mo -

Months To Lease: 14 mo 7 mo

Time On Market: 7 mo -

THIS PROPERTY SUBJECT

AVAILABILITY

Spaces: 3

Square Feet: 4,837

Range: 1,559 - 1,639

Max Contig: 3,198

% Sublet: 0%

Asking Rent: $0.85/NNN

PROPERTY

Type: Distribution Docks: 13 ext

Year Built/Renov: 2006 Drive Ins: 6 tot./10'w x 14'h

RBA: 57,017 SF Truck Court: -

Tenancy: Multi

Power: 2,000a/277-480v 3p Hea…Ceiling Height: 18'-24'

Land Acres: 7.50 AC

Construction: Reinforced Concrete Taxes: $0.89 (2012)


Features: Bus Line

Cranes: -

Rail Served: None

4535 Statz St - 3,828 SF w/ 2 Docks immediately off I-15North Las Vegas, NV 89081 - Distance to Subject Property: 2.4 Miles

2

COMPARISON

Vacancy %: 11.2% 100%






AVAILABILITY

Spaces: 1

Square Feet: 4,646

Range: 4,646

Max Contig: 4,646

% Sublet: 0%


PROPERTY

Type: Warehouse Docks: 20 ext



Tenancy: Multi

Power: 200a/120-208v 3p 4wCeiling Height: 17'

Land Acres: 3.13 AC


Parking: 76 Surface Spaces are available; Ratio of 1.83/1,000 SF

Features: Signage

Cranes: -

Rail Served: None



702.250.6504




570 W Cheyenne Ave - Harsch Cheyenne Commerce CenterNorth Las Vegas, NV 89030 - Distance to Subject Property: 4.6 Miles

3

COMPARISON

Vacancy %: 19.7% 100%




Time On Market: - -


AVAILABILITY

Spaces: 2

Square Feet: 5,822

Range: 1,541 - 4,281

Max Contig: 4,281

% Sublet: 0%


PROPERTY




Tenancy: Multi


Land Acres: 7.60 AC



Features: Bus Line, Skylights

Cranes: None

Rail Served: None

4310 Losee Rd - Bldg ANorth Las Vegas, NV 89030 - Distance to Subject Property: 2.7 Miles

4

COMPARISON

Vacancy %: 8.7% 100%




Time On Market: - -


AVAILABILITY

Spaces: 1

Square Feet: 5,050

Range: 5,050

Max Contig: 5,050

% Sublet: 0%


PROPERTY




Tenancy: Multi

Power: 200-250a/277-480v 3pCeiling Height: 22'

Land Acres: 3.60 AC



Features: 24 Hour Availability, Bus Line, Signage

Cranes: None

Rail Served: None



702.250.6504




6226-6234 E Tropical Pky - A,B,CLas Vegas, NV 89115 - Distance to Subject Property: 3.3 Miles

5

COMPARISON

Vacancy %: 36.5% 100%



Months To Lease: - 7 mo

Time On Market: - -


AVAILABILITY

Spaces: 1

Square Feet: 11,460

Range: 11,460

Max Contig: 11,460

% Sublet: 0%

Asking Rent: $0.68/MG

PROPERTY

Type: Warehouse Docks: -

Year Built/Renov: 2008 Drive Ins: -


Tenancy: Multi

Power: -Ceiling Height: 22'-24'

Land Acres: 6.48 AC


Parking: Ratio of 0.00/1,000 SF

Features: -

Cranes: -

Rail Served: None

720 W Cheyenne Ave - Bldg ANorth Las Vegas, NV 89030 - Distance to Subject Property: 4.7 Miles

6

COMPARISON

Vacancy %: 3.3% 100%






AVAILABILITY

Spaces: 1

Square Feet: 1,465

Range: 1,465

Max Contig: 1,465

% Sublet: 0%


PROPERTY




Tenancy: Multi

Power: 200a/277-480v 3pCeiling Height: 18'

Land Acres: 7.50 AC


Parking: 135 Surface Spaces are available; Ratio of 3.18/1,000 SF

Features: Bus Line

Cranes: -

Rail Served: None



702.250.6504




3660 N 5th St - Bldg 3North Las Vegas, NV 89032 - Distance to Subject Property: 3.6 Miles

7

COMPARISON

Vacancy %: 0% 100%






AVAILABILITY

Spaces: 2

Square Feet: 4,382

Range: 2,191

Max Contig: 4,382

% Sublet: 0%


PROPERTY




Tenancy: Multi

Power: 120-208v 3pCeiling Height: 19'-20'

Land Acres: 1.45 AC



Features: -

Cranes: -

Rail Served: -


8

COMPARISON

Vacancy %: 15.1% 100%






AVAILABILITY

Spaces: 1

Square Feet: 2,907

Range: 2,907

Max Contig: 2,907

% Sublet: 0%


PROPERTY




Tenancy: Multi

Power: 120-208v 3p HeavyCeiling Height: 19'-20'

Land Acres: 1.45 AC



Features: Signage

Cranes: -

Rail Served: -



702.250.6504




4336 Losee Rd - Bldg BNorth Las Vegas, NV 89030 - Distance to Subject Property: 2.7 Miles

9

COMPARISON

Vacancy %: 9.8% 100%




Time On Market: - -


AVAILABILITY

Spaces: 1

Square Feet: 6,440

Range: 6,440

Max Contig: 6,440

% Sublet: 0%


PROPERTY




Tenancy: Multi

Power: 250a/277-480v 3pCeiling Height: 22'

Land Acres: 3.60 AC



Features: 24 Hour Availability, Bus Line, Signage

Cranes: None

Rail Served: None


10

COMPARISON

Vacancy %: 61.7% 100%






AVAILABILITY

Spaces: 1

Square Feet: 7,050

Range: 7,050

Max Contig: 7,050

% Sublet: 0%


PROPERTY

Type: Warehouse Docks: None



Tenancy: Multi

Power: 120-208v 3pCeiling Height: 19'-20'

Land Acres: 1.45 AC



Features: -

Cranes: -

Rail Served: -



702.250.6504





11

COMPARISON

Vacancy %: 79.8% 100%






AVAILABILITY

Spaces: 2

Square Feet: 15,364

Range: 3,736 - 11,628

Max Contig: 15,364

% Sublet: 0%


PROPERTY




Tenancy: Multi

Power: 200a/120-208v 3pCeiling Height: 19'-20'

Land Acres: 1.45 AC



Features: -

Cranes: -

Rail Served: -

4724 Mitchell St - GBS TwoNorth Las Vegas, NV 89081 - Distance to Subject Property: 1.6 Miles

12

COMPARISON

Vacancy %: 29.0% 100%






AVAILABILITY

Spaces: 1

Square Feet: 17,610

Range: 17,610

Max Contig: 17,610

% Sublet: 0%


PROPERTY




Tenancy: Multi

Power: 120-208a/200-208v 3pCeiling Height: 20'

Land Acres: 11.09 AC



Features: Fenced Lot, Skylights

Cranes: None

Rail Served: None



702.250.6504




4114 N Pecos RdLas Vegas, NV 89115 - Distance to Subject Property: 1.7 Miles

13

COMPARISON

Vacancy %: 23.1% 100%



Months To Lease: - 7 mo



AVAILABILITY

Spaces: 1

Square Feet: 10,099

Range: 10,099

Max Contig: 10,099

% Sublet: 0%


PROPERTY




Tenancy: Multi

Power: 1,200a/277-480v 3p Hea…Ceiling Height: 20'

Land Acres: 2.40 AC



Features: 24 Hour Availability, Air Conditioning, Bus Line, Signage, Storage Sp…

Cranes: None

Rail Served: None

3020 N Walnut Rd - Walnut Business ParkLas Vegas, NV 89115 - Distance to Subject Property: 1.6 Miles

14

COMPARISON

Vacancy %: 12.6% 100%






AVAILABILITY

Spaces: 1

Square Feet: 5,707

Range: 5,707

Max Contig: 5,707

% Sublet: 0%


PROPERTY




Tenancy: Multi

Power: 200a/480v 3pCeiling Height: 22'

Land Acres: 4.32 AC



Features: Air Conditioning, Cooler, Mezzanine, Signage, Skylights

Cranes: -

Rail Served: None



702.250.6504




6845 Speedway Blvd - Bldg KLas Vegas, NV 89115 - Distance to Subject Property: 4.1 Miles

15

COMPARISON

Vacancy %: 13.2% 100%






AVAILABILITY

Spaces: 1

Square Feet: 7,592

Range: 7,592

Max Contig: 7,592

% Sublet: 0%


PROPERTY




Tenancy: Multi

Power: 277-408v 3p 4wCeiling Height: 12'-28'

Land Acres: 3.79 AC



Features: Air Conditioning, Property Manager on Site, Signage, Skylights

Cranes: None

Rail Served: None

595 E Brooks Ave - Bldg CNorth Las Vegas, NV 89030 - Distance to Subject Property: 3.8 Miles

16

COMPARISON

Vacancy %: 0% 100%






AVAILABILITY

Spaces: 1

Square Feet: 1,645

Range: 1,645

Max Contig: 1,645

% Sublet: 0%


PROPERTY




Tenancy: Multi

Power: 3pCeiling Height: 20'




Features: Bus Line

Cranes: None

Rail Served: None



702.250.6504




537 E Brooks Ave - Bldg DNorth Las Vegas, NV 89030 - Distance to Subject Property: 3.9 Miles

17

COMPARISON

Vacancy %: 11.0% 100%






AVAILABILITY

Spaces: 1

Square Feet: 3,300

Range: 3,300

Max Contig: 3,300

% Sublet: 0%


PROPERTY




Tenancy: Multi





Features: Bus Line, Fenced Lot

Cranes: None

Rail Served: None



702.250.6504


Peer Property Detail Without Availability

No Peers Found



702.250.6504


PREPARED BY

Casey Whiting


Leasing Analytics


LAS VEGAS VACANCY OVERVIEW

Net absorption has maintained a healthy pace the lastfew years holding vacancies relatively steady, even witha sizable increase in speculative construction. The morethan seven million SF delivered in 2017 and over twoand half million SF under construction are likely to putupward pressure on vacancies, but continued healthydemand should keep vacancies from rising too sharply.

Logistics makes up over 70% of the industrial inventoryin Las Vegas and has typically served the local market,which limited tenant demand for large-scale industrialdevelopment. However, city officials are working toreinvent the area as a regional logistics hub and attractmore national tenants to fill the major speculativeprojects underway.

A number of large tenants have taken occupancy hereover the past year. In June 2017, Fanatics, an onlineretailer of licensed sportswear, moved into 400,000 SF inthe North Las Vegas Submarket. Dr. Pepper Snapplemoved into the entirety of the 100,000 SF Building 13 atthe Prologis Corporate Center in November 2017.Located in Prologis Park North, the facility features a 32-foot clear height and 21 dock doors. Third-party logisticsfirm NEXgistics leased more than 83,000 SF at theneighboring Building 12, which has similar characteristicsto Building 13. Also in late 2017, Amazon and TheHonest Co. took delivery and moved into their newdistribution buildings in the North Las Vegas Submarket.

VACANCY RATE

Vacancy Analytics3950-3970 Las Vegas Blvd



702.250.6504


VACANCY RATE

Vacancy Trend (YOY) VacancyTrend (YOY) Trend (YOY)VacancyTrend (YOY)Vacancy

3950-3970 Las Vegas Blvd Peers North Las Vegas Las Vegas

-0.6%12.2%-0.1%10.9%-9.4%15.5%0%0%2012

-1.9%10.3%-2.5%8.4%-4.3%11.2%0%0%2013

-2.2%8.1%-1.2%7.2%4.5%15.7%0%0%2014

-2.2%5.9%-3%4.1%-7.3%8.4%0%0%2015

0.1%6.0%1.5%5.7%2.4%10.8%34.2%34.2%2016

-0.4%5.6%0.7%6.4%-3.5%7.4%-34.2%0%2017

-1.1%4.6%-0.3%6.1%4.3%17.2%56.8%100%YTD

-1.4%4.2%-0.7%5.7%2018

-0.1%4.1%-0.2%5.5%2019

0.3%4.4%0.4%5.9%2020 Forecast >

0.7%5.1%0.8%6.7%2021

0.6%5.7%0.5%7.1%2022



702.250.6504


AVAILABILITY RATE

AVAILABILITY RATE

Availability Trend (YOY) AvailabilityTrend (YOY) Trend (YOY)AvailabilityTrend (YOY)Availability

3950-3970 Las Vegas Blvd Peers North Las Vegas Las Vegas

-0.8%14.9%-2.5%13.1%-9.8%19.2%0%0%2012

-3.3%11.6%-3.2%9.9%-7.8%11.4%0%0%2013

-3%8.6%-1.9%7.9%0.4%11.8%0%0%2014

-0.2%8.4%-1.5%6.4%-1.8%10.0%0%0%2015

-0.1%8.2%3%9.4%-0.5%9.5%34.2%34.2%2016

-1.8%6.4%-3%6.4%0.7%10.1%-34.2%0%2017

-0.9%7.5%0.3%11.1%4.9%17.0%56.8%100%2018 YTD



702.250.6504


MEDIAN MONTHS ON MARKET

MEDIAN MONTHS ON MARKET

Peers North Las Vegas Ind Las Vegas

2008 5.2 4.6 4.6

2009 6.8 6.6 6.5

2010 8.6 10.5 10.8

2011 9.7 15.3 14.1

2012 10.4 18.4 16.7

2013 11.4 14.7 18.4

2014 11.1 13.8 16.2

2015 6.1 10.2 13.3

2016 5.3 6.8 8.7

2017 5.3 4.9 6.3

2018 2.9 4.5 4.2



702.250.6504


RENEWAL RATES

RENEWAL RATES

North Las Vegas Ind & Adjacent Las Vegas

2008 60.9% 49.2%

2009 56.0% 50.0%

2010 45.9% 56.4%

2011 56.5% 63.2%

2012 66.2% 64.4%

2013 73.5% 63.4%

2014 77.9% 66.5%

2015 70.1% 68.5%

2016 64.7% 63.3%

2017 61.8% 55.2%



702.250.6504

Rent Analytics3950-3970 Las Vegas Blvd

LAS VEGAS RENT TRENDS

Rent growth in Las Vegas continues to be strong ataround 6.0%, picking up after slowing slightly in 2017,though still trailing the gains of over 8% in 2015 and2016. Logistics continues to see robust rent gains evenwith the influx of new development.

Las Vegas experienced a later recovery than most

industrial markets, and rents only started to rise again in2013. The previous downturn inflicted dramatic rentlosses on the metro, pushing them down more than 30%from their previous peak. With the influx of constructionand deliveries, future rent growth will likely be temperedby supply pressures.

ASKING RENT PER SQUARE FOOT



702.250.6504

Rent Analytics3950-3970 Las Vegas Blvd


Rent Trend (YOY) RentTrend (YOY) Trend (YOY)RentTrend (YOY)Rent

3950-3970 Las Vegas Blvd (Direct) Peers (Direct) North Las Vegas (Same Store) Las Vegas (Same Store)

-3.7%$0.50-4.2%$0.39-24.5%$0.36--2012

1.1%$0.501%$0.391%$0.37--2013

5.6%$0.536.5%$0.420.5%$0.37--2014

7.9%$0.579.2%$0.4630.6%$0.48-$0.402015

8.3%$0.629.1%$0.504.1%$0.5020%$0.482016

6.8%$0.666.9%$0.535.8%$0.530%$0.482017

4%$0.693.8%$0.5515.6%$0.57--YTD

6.1%$0.705.9%$0.562018

5.5%$0.745.5%$0.602019

2.1%$0.762%$0.612020 Forecast >

0.8%$0.770.8%$0.612021

1.6%$0.781.6%$0.622022



702.250.6504

Absorption Analytics3950-3970 Las Vegas Blvd

NET ABSORPTION IN PEERS IN SQUARE FEET

NET ABSORPTION IN NORTH LAS VEGAS IND SUBMARKET IN SQUARE FEET

NET ABSORPTION IN LAS VEGAS IN SQUARE FEET



702.250.6504

Leasing Analytics3950-3970 Las Vegas Blvd

LEASING ACTIVITY IN PEERS IN SQUARE FEET

LEASING ACTIVITY IN NORTH LAS VEGAS SUBMARKET IN SQUARE FEET

LEASING ACTIVITY IN LAS VEGAS IN SQUARE FEET



702.250.6504

Leasing Analytics3950-3970 Las Vegas Blvd

SUBLEASE SPACE AVAILABLE IN LAS VEGAS IN SQUARE FEET



702.250.6504


PREPARED BY

Casey Whiting


Lease Comps


Lease Comps Summary3950-3970 Las Vegas Blvd

Deals

80Asking Rent Per SF

$0.53Starting Rent Per SF

$0.54Avg. Months On Market

10TOP 50 LEASE COMPARABLES

SUMMARY STATISTICS

Rent Deals Low Average Median High

Asking Rent Per SF

Starting Rent Per SF

Effective Rent Per SF

Asking Rent Discount

TI Allowance

Months Free Rent

72

14

7

9

-

1

$0.40

$0.42

$0.45

0.0%

-

0

$0.53

$0.54

$0.54

1.1%

-

0

$0.58

$0.60

$0.52

0.0%

-

0

5.5%

-

0

$0.85

$0.75

$0.70

Lease Attributes Deals Low Average Median High

Months on Market

Deal Size

Lease Deal in Years

Floor Number

70

80

31

80

1

873

1.0

1

10

4,515

2.6

1

5

3,754

3.0

1 1

63

24,000

9.0



702.250.6504


Property Name - Address Rating SF Leased Floor Sign Date Rent Rent Type

Lease

Type

Rents

-1 Harsch Cheyenne Comm…2,100 1st 9/7/2018 $0.70/nnn Asking

570 W Cheyenne AveNew

-2 Bldg A3,557 1st 9/7/2018 $0.65/nnn Asking


-3 Bldg 64,584 1st 8/22/2018 $0.62/nnn Asking

3680 N 5th StNew

-4 Bldg B6,600 1st 6/25/2018 $0.58/nnn Asking

4336 Losee RdNew



-1 Harsch Cheyenne Comm…873 1st 6/13/2018 $0.85/nnn Asking




-5 3,828 SF w/ 2 Docks imm…3,828 1st 5/25/2018 $0.70/nnn Effective

4535 Statz StNew

-6 Bldg A5,985 1st 5/21/2018 - -

4310 Losee RdNew


3660 N 5th StNew

-8 Bldg C1,610 1st 3/16/2018 $0.69/nnn Asking

595 E Brooks AveNew


3680 N 5th StNew

-9 Bldg K7,592 1st 2/15/2018 $0.46/nnn Asking

6845 Speedway BlvdNew

-2 Bldg A873 1st 2/8/2018 $0.85/nnn Asking



595 E Brooks AveNew



-1 Harsch Cheyenne Comm…2,121 1st 1/9/2018 $0.65/nnn Asking



4336 Losee RdNew

-10 Walnut Business Park5,718 1st 12/31/2017 $0.49/nnn Asking

3020 N Walnut RdNew




3020 N Walnut RdNew

-Bldg B

1,559 1st 10/23/2017 $0.75/nnn AskingNew



702.250.6504

http://gateway.costar.com/Gateway/Redir/RedirectToProduct.aspx?productId=PPW&redirUrl=%2Fredir%2Fdefault.aspx%3Feid%3D986662%26ProductMode%3DProperty%26SelectedTab%3Dlease%26external%3D1
























Lease

Type

Rents






4310 Losee RdNew


4336 Losee RdNew

-1 Harsch Cheyenne Comm…7,402 1st 10/1/2017 $0.56 Starting

570 W Cheyenne AveRenewal


595 E Brooks AveNew


4336 Losee RdNew

-12 GBS Two24,000 1st 7/7/2017 $0.42/nnn Asking

4724 Mitchell StNew

-12 GBS Two6,400 1st 7/7/2017 $0.42/nnn Asking

4724 Mitchell StNew

-13 Bldg D3,300 1st 6/20/2017 $0.63/nnn Effective

537 E Brooks AveNew


3660 N 5th StNew

-1 Harsch Cheyenne Comm…873 1st 5/22/2017 $0.75/nnn Asking


-14 3950-3970 Las Vegas Blvd2,500 1st 5/18/2017 $0.48/nnn AskingNew


4535 Statz StRenewal

-11 Bldg B5,775 1st 5/2/2017 $0.60/nnn Starting


-10 Walnut Business Park5,687 1st 4/24/2017 $0.45/mg Effective

3020 N Walnut RdNew

-10 Walnut Business Park5,685 1st 4/17/2017 $0.48/mg Effective

3020 N Walnut RdNew





-9 Bldg K7,592 1st 3/2/2017 $0.42/nnn Starting

6845 Speedway BlvdNew

-8 Bldg C1,610 1st 1/2/2017 $0.65/nnn Starting

595 E Brooks AveNew



702.250.6504
























Lease

Type

Rents

-1 Harsch Cheyenne Comm…2,100 1st 1/2/2017 $0.65/nnn Starting



3660 N 5th StNew


3660 N 5th StNew


3020 N Walnut RdNew


3020 N Walnut RdNew


3020 N Walnut RdNew


4535 Statz StNew





702.250.6504









Lease Comps Details3950-3970 Las Vegas Blvd

1 570 W Cheyenne Ave - Harsch Cheyenne Commerce CenterNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket

RENTS


PROPERTY EXPENSES

Taxes: $1.13/SF (2012)

Operating Exp.: $2.04/SF (2011)

LEASE

SF Leased: 2,100 SF

Sign Date: Sep 2018

Space Use: Industrial

Lease Type: Direct

Floor: 1st Floor

Suite: D-170

LEASE TERM

Start Date: Oct 2018

Expiration Date: Oct 2027

Lease Term: 9 Years

TIME VACANT

Date Vacated: Aug 2018

Date Occupied: Oct 2018

Months Vacant: 2 Months

TIME ON MARKET

Date On Market: Aug 2018

Date Off Market: Sep 2018

Months on Market: 1 Months

LEASING REP

Harsch Investment Properties

3111 S Valley View Blvd, Suite K-101

Las Vegas, NV 89102-8317

Amanda McCauley (702) 362-1400

JLL

1980 Festival Plaza Dr, Suite 250

Las Vegas, NV 89135

Jason Simon (702) 522-5001

Xavier Wasiak, SIOR (702) 304-2631

Rob Lujan (702) 522-5002

PROPERTY

Rentable Area: 44,680 SF

Stories: 1

Floor Size: 44,680 SF

Ceiling Height: 18'

Vacancy at Lease: 19.7%

Land Acres: 7.60

Property Type: Industrial

Status: Built 2004

Tenancy: Multi

Class: B

Construction: Reinforced Concrete

Parking: 135 free Surface Sp…

MARKET AT LEASE

Vacancy Rates 2018 Q3 YOY

1.7%

-2.0%

5.8%Current Building 19.7%

Submarket 2-4 Star

Market Overall 4.6%

6.5%

Same Store Asking Rent/SF 2018 Q3 YOY

5.9%

6.0%

5.2%Current Building $0.70

Submarket 2-4 Star

Market Overall $0.69

$0.57

Submarket Leasing Activity 2018 Q3 YOY

0.1

47.5%12 Mo. Leased SF 5,090,456

Months On Market 4.2



702.250.6504



2 720 W Cheyenne Ave - Bldg ANorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket

RENTS


PROPERTY EXPENSES

Taxes: $1.68/SF (2012)


Total Exp.: $2.52/SF (2012)

LEASE

SF Leased: 3,557 SF

Sign Date: Sep 2018


Lease Type: Direct

Floor: 1st Floor

Suite: A-130

LEASE TERM



Lease Term: 9 Years

TIME VACANT

Date Vacated: Oct 2018


Months Vacant: 6 Days

TIME ON MARKET

Date On Market: Jul 2018



LEASING REP





JLL


Las Vegas, NV 89135

Jason Simon (702) 522-5001


Rob Lujan (702) 522-5002

PROPERTY


Stories: 1


Ceiling Height: 18'


Land Acres: 7.50


Status: Built 2006

Tenancy: Multi

Class: B


Parking: 135 Surface Spaces…

MARKET AT LEASE


1.7%

-2.0%


Submarket 2-4 Star

Market Overall 4.6%

6.5%


5.9%

6.0%


Submarket 2-4 Star


$0.57


0.1

47.5%12 Mo. Leased SF 5,090,456




702.250.6504



3 3680 N 5th St - Bldg 6North Las Vegas, NV 89032 - North Las Vegas Ind Submarket

RENTS


PROPERTY EXPENSES

Taxes: $3.48/SF (2012)


Total Exp.: $4.68/SF (2012)

LEASE

SF Leased: 4,584 SF

Sign Date: Aug 2018


Lease Type: Direct

Floor: 1st Floor

Suite: 100

LEASE TERM

Start Date: Sep 2018

Expiration Date: Sep 2022

Lease Term: 4 Years

TIME VACANT

Date Vacated: Jan 2017

Date Occupied: Sep 2018


TIME ON MARKET

Date On Market: Jan 2017

Date Off Market: Aug 2018


LEASING REP

JLL


Las Vegas, NV 89135


Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002

PROPERTY


Stories: 1


Ceiling Height: 19'-20'


Land Acres: 1.45


Status: Built 2008

Tenancy: Multi

Class: B


Parking: 36 free Surface Spa…

MARKET AT LEASE


2.0%

-2.0%


Submarket 1-3 Star

Market Overall 4.6%

7.2%


6.0%

6.0%


Submarket 1-3 Star


$0.62


0.1

47.5%12 Mo. Leased SF 5,090,456




702.250.6504



4 4336 Losee Rd - Bldg BNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket

RENTS


CONCESSIONS AND BUILDOUT

Buildout Status: Full Build-Out

Space Condition: Excellent

PROPERTY EXPENSES

Taxes: $0.67/SF (2012)

Operating Exp.: $1.80/SF (2011-Est);…

LEASE

SF Leased: 6,600 SF

Sign Date: Jun 2018


Lease Type: Direct

Floor: 1st Floor

Suite: B-10

LEASE TERM

Start Date: Aug 2018

TIME VACANT


Date Occupied: Aug 2018

Months Vacant: 1 Day

TIME ON MARKET

Date On Market: May 2018

Date Off Market: Jun 2018


LEASING REP

Colliers International

3960 Howard Hughes Pky, Suite 150

Las Vegas, NV 89169

Suzette LaGrange CCIM (702) 836-3799

Kara M. Walker, CCIM (702) 836-3705

PROPERTY


Stories: 1


Ceiling Height: 22'


Land Acres: 3.60


Status: Built 1997

Tenancy: Multi

Class: B



MARKET AT LEASE


1.9%

1.5%


Submarket 2-4 Star

Market Overall 4.8%

6.5%


7.0%

7.0%


Submarket 2-4 Star


$0.56


0.8

110.1%12 Mo. Leased SF 5,496,171




702.250.6504




TENANT

Tenant Name: Oasis Moving & Storage

Industry: Business Services

RENTS


PROPERTY EXPENSES

Taxes: $1.68/SF (2012)


Total Exp.: $2.52/SF (2012)

LEASE

SF Leased: 1,990 SF

Sign Date: Jun 2018


Lease Type: Direct

Floor: 1st Floor

Suite: A-10

LEASE TERM

Start Date: Jun 2018

TIME VACANT

Date Vacated: May 2018

Date Occupied: Jun 2018

Months Vacant: 1 Month

TIME ON MARKET

Date On Market: Jun 2018



LEASING REP





JLL


Las Vegas, NV 89135

Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002


PROPERTY


Stories: 1


Ceiling Height: 18'


Land Acres: 7.50


Status: Built 2006

Tenancy: Multi

Class: B



MARKET AT LEASE


1.9%

1.5%


Submarket 2-4 Star

Market Overall 4.8%

6.5%


7.0%

7.0%


Submarket 2-4 Star


$0.56


0.8

110.1%12 Mo. Leased SF 5,496,171




702.250.6504




RENTS


PROPERTY EXPENSES

Taxes: $1.13/SF (2012)


LEASE

SF Leased: 873 SF

Sign Date: Jun 2018


Lease Type: Direct

Floor: 1st Floor

Suite: D40

LEASE TERM


TIME VACANT

Date Vacated: Apr 2018



TIME ON MARKET

Date On Market: Feb 2018



LEASING REP

JLL


Las Vegas, NV 89135


Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002

PROPERTY


Stories: 1


Ceiling Height: 18'


Land Acres: 7.60


Status: Built 2004

Tenancy: Multi

Class: B



MARKET AT LEASE


1.9%

1.5%


Submarket 2-4 Star

Market Overall 4.8%

6.5%


7.0%

7.0%


Submarket 2-4 Star


$0.56


0.8

110.1%12 Mo. Leased SF 5,496,171




702.250.6504




TENANT

Tenant Name: Elite Collection Services

RENTS


PROPERTY EXPENSES

Taxes: $1.68/SF (2012)


Total Exp.: $2.52/SF (2012)

LEASE

SF Leased: 1,465 SF

Sign Date: Jun 2018


Lease Type: Direct

Floor: 1st Floor

Suite: A-30

LEASE TERM


TIME VACANT

Date Vacated: Mar 2018



TIME ON MARKET

Date On Market: Nov 2017



LEASING REP





JLL


Las Vegas, NV 89135

Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002


PROPERTY


Stories: 1


Ceiling Height: 18'


Land Acres: 7.50


Status: Built 2006

Tenancy: Multi

Class: B



MARKET AT LEASE


1.9%

1.5%


Submarket 2-4 Star

Market Overall 4.8%

6.5%


7.0%

7.0%


Submarket 2-4 Star


$0.56


0.8

110.1%12 Mo. Leased SF 5,496,171




702.250.6504



5 4535 Statz St - 3,828 SF w/ 2 Docks immediately off I-15North Las Vegas, NV 89081 - North Las Vegas Ind Submarket

RENTS


Starting Rent: $0.70/NNN

Effective Rent: $0.70/NNN


Asking Discount: 0.00%

Mo. Free Rents: 0 Months

PROPERTY EXPENSES

Taxes: $0.79/SF (2017)


LEASE

SF Leased: 3,828 SF

Sign Date: May 2018


Lease Type: Direct

Floor: 1st Floor

Suite: 4535 Statz St Ste E

LEASE TERM


Expiration Date: May 2021

Lease Term: 3 Years

TIME VACANT




TIME ON MARKET




LEASING REP

RealComm Advisors

444 E Warm Springs Rd, Suite 120

Las Vegas, NV 89119

Greg Pancirov (702) 470-0780

PROPERTY


Stories: 1


Ceiling Height: 17'


Land Acres: 3.13


Status: Built 2004

Tenancy: Multi

Class: A


Parking: 76 Surface Spaces a…

MARKET AT LEASE


1.9%

1.5%


Submarket 2-4 Star

Market Overall 4.8%

6.5%


7.0%

7.0%


Submarket 2-4 Star


$0.56


0.8

110.1%12 Mo. Leased SF 5,496,171




702.250.6504



6 4310 Losee Rd - Bldg ANorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket

TENANT

Tenant Name: Potomac River Holdings, LLC

PROPERTY EXPENSES

Taxes: $0.76/SF (2012)

Operating Exp.: $1.80/SF (2010-Est)

LEASE

SF Leased: 5,985 SF

Sign Date: May 2018


Lease Type: Direct

Floor: 1st Floor

Suite: A-1

LEASE TERM

Start Date: Jul 2018

Expiration Date: Jun 2020

Lease Term: 2 Years

TIME VACANT

Date Occupied: Jul 2018

TENANT REP

JLL


Las Vegas, NV 89135


LEASING REP



Las Vegas, NV 89169


PROPERTY


Stories: 1


Ceiling Height: 22'


Land Acres: 3.60


Status: Built 1997

Tenancy: Multi

Class: C



MARKET AT LEASE


1.9%

1.5%


Submarket 2-4 Star

Market Overall 4.8%

6.5%


7.0%

7.0%

Current Building $0.06

Submarket 2-4 Star


$0.56

-


0.8

110.1%12 Mo. Leased SF 5,496,171




702.250.6504




TENANT

Tenant Name: Second Opinion Plumbing, LLC

RENTS


PROPERTY EXPENSES

Taxes: $3.30/SF (2012)


LEASE

SF Leased: 3,460 SF

Sign Date: Mar 2018


Lease Type: Direct

Floor: 1st Floor

Suite: 100

LEASE TERM

Start Date: Apr 2018

TIME VACANT

Date Vacated: Feb 2018

Date Occupied: Apr 2018


TIME ON MARKET


Date Off Market: Apr 2018


LEASING REP

JLL


Las Vegas, NV 89135


Rob Lujan (702) 522-5002

Jason Simon (702) 522-5001

PROPERTY


Stories: 1




Land Acres: 1.45


Status: Built 2008

Tenancy: Multi

Class: B



MARKET AT LEASE


2.3%

0.7%


Submarket 1-3 Star

Market Overall 5.2%

6.7%


7.4%

7.3%


Submarket 1-3 Star


$0.60


0.2

126.8%12 Mo. Leased SF 4,954,425




702.250.6504



8 595 E Brooks Ave - Bldg CNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket

RENTS


PROPERTY EXPENSES

Taxes: $3.32/SF (2012)


LEASE

SF Leased: 1,610 SF

Sign Date: Mar 2018


Lease Type: Direct

Floor: 1st Floor

Suite: 307

LEASE TERM

Start Date: Apr 2018

TIME VACANT


Date Occupied: Apr 2018


TIME ON MARKET


Date Off Market: Mar 2018


LEASING REP





JLL


Las Vegas, NV 89135


Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002

PROPERTY


Stories: 1


Ceiling Height: 20'


Land Acres: 10.61


Status: Built 2001

Tenancy: Multi

Class: B



MARKET AT LEASE


2.3%

0.7%


Submarket 1-3 Star

Market Overall 5.2%

6.7%


7.4%

7.3%


Submarket 1-3 Star


$0.60


0.2

126.8%12 Mo. Leased SF 4,954,425




702.250.6504




TENANT

Tenant Name: Syer Metal Works, LLC

RENTS


PROPERTY EXPENSES

Taxes: $3.48/SF (2012)


Total Exp.: $4.68/SF (2012)

LEASE

SF Leased: 4,584 SF

Sign Date: Mar 2018


Lease Type: Direct

Floor: 1st Floor

Suite: 120/130

LEASE TERM

Start Date: Mar 2018

Expiration Date: Mar 2019

Lease Term: 1 Year

TIME VACANT


Date Occupied: Mar 2018


TIME ON MARKET


Date Off Market: Mar 2018


LEASING REP

JLL


Las Vegas, NV 89135


Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002

PROPERTY


Stories: 1



Vacancy at Lease: 100%

Land Acres: 1.45


Status: Built 2008

Tenancy: Multi

Class: B



MARKET AT LEASE


2.3%

0.7%

0.0%Current Building 100%

Submarket 1-3 Star

Market Overall 5.2%

6.7%


7.4%

7.3%


Submarket 1-3 Star


$0.60


0.2

126.8%12 Mo. Leased SF 4,954,425




702.250.6504



9 6845 Speedway Blvd - Bldg KLas Vegas, NV 89115 - Speedway Ind Submarket

TENANT

Tenant Name: Alexander Pizzorni

RENTS


PROPERTY EXPENSES

Taxes: $0.23/SF (2015)


LEASE

SF Leased: 7,592 SF

Sign Date: Feb 2018


Lease Type: Direct

Floor: 1st Floor

Suite: K-107

LEASE TERM


TIME VACANT

Date Vacated: Sep 2017



TIME ON MARKET

Date On Market: Sep 2017

Date Off Market: Feb 2018


LEASING REP





JLL


Las Vegas, NV 89135

Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002


PROPERTY


Stories: 1




Land Acres: 3.79


Status: Built 1998

Tenancy: Multi

Class: C



MARKET AT LEASE


0.5%

0.7%


Submarket 2-4 Star

Market Overall 5.2%

8.0%


9.5%

7.3%


Submarket 2-4 Star


$0.50


2.3

112.7%12 Mo. Leased SF 469,736




702.250.6504




TENANT

Tenant Name: Passport to Independence

Industry: Medical

NAICS: Psychiatric and Substance Abuse Hospitals - 622210

RENTS


PROPERTY EXPENSES

Taxes: $1.68/SF (2012)


Total Exp.: $2.52/SF (2012)

LEASE

SF Leased: 873 SF

Sign Date: Feb 2018


Lease Type: Direct

Floor: 1st Floor

Suite: A-180

LEASE TERM

Start Date: Feb 2018

TIME VACANT

Date Vacated: Dec 2017

Date Occupied: Feb 2018


TIME ON MARKET




LEASING REP

JLL


Las Vegas, NV 89135

Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002


PROPERTY


Stories: 1


Ceiling Height: 18'


Land Acres: 7.50


Status: Built 2006

Tenancy: Multi

Class: B



MARKET AT LEASE


1.9%

0.7%


Submarket 2-4 Star

Market Overall 5.2%

6.1%


7.3%

7.3%


Submarket 2-4 Star


$0.56


0.2

126.8%12 Mo. Leased SF 4,954,425




702.250.6504




TENANT

Tenant Name: Techcool

RENTS


PROPERTY EXPENSES

Taxes: $3.32/SF (2012)


LEASE

SF Leased: 1,610 SF

Sign Date: Jan 2018


Lease Type: Direct

Floor: 1st Floor

Suite: 312

LEASE TERM


Expiration Date: Mar 2019

Lease Term: 1 Year

TIME VACANT




TIME ON MARKET




LEASING REP

JLL


Las Vegas, NV 89135


Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002

PROPERTY


Stories: 1


Ceiling Height: 20'


Land Acres: 10.61


Status: Built 2001

Tenancy: Multi

Class: B



MARKET AT LEASE


2.3%

0.7%


Submarket 1-3 Star

Market Overall 5.2%

6.7%


7.4%

7.3%


Submarket 1-3 Star


$0.60


0.2

126.8%12 Mo. Leased SF 4,954,425




702.250.6504




RENTS


PROPERTY EXPENSES

Taxes: $1.68/SF (2012)


Total Exp.: $2.52/SF (2012)

LEASE

SF Leased: 2,100 SF

Sign Date: Jan 2018


Lease Type: Direct

Floor: 1st Floor

Suite: A-80

LEASE TERM


TIME VACANT




TIME ON MARKET


Date Off Market: Jan 2018


LEASING REP

JLL


Las Vegas, NV 89135


Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002

PROPERTY


Stories: 1


Ceiling Height: 18'


Land Acres: 7.50


Status: Built 2006

Tenancy: Multi

Class: B



MARKET AT LEASE


1.9%

0.7%


Submarket 2-4 Star

Market Overall 5.2%

6.1%


7.3%

7.3%


Submarket 2-4 Star


$0.56


0.2

126.8%12 Mo. Leased SF 4,954,425




702.250.6504




RENTS


PROPERTY EXPENSES

Taxes: $1.13/SF (2012)


LEASE

SF Leased: 2,121 SF

Sign Date: Jan 2018


Lease Type: Direct

Floor: 1st Floor

Suite: D-90

LEASE TERM


Lease Term: 1 Year

TIME VACANT




TIME ON MARKET




LEASING REP

JLL


Las Vegas, NV 89135


Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002

PROPERTY


Stories: 1


Ceiling Height: 18'


Land Acres: 7.60


Status: Built 2004

Tenancy: Multi

Class: B



MARKET AT LEASE


1.9%

0.7%


Submarket 2-4 Star

Market Overall 5.2%

6.1%


7.3%

7.3%


Submarket 2-4 Star


$0.56


0.2

126.8%12 Mo. Leased SF 4,954,425




702.250.6504




RENTS


PROPERTY EXPENSES

Taxes: $0.67/SF (2012)


LEASE

SF Leased: 6,600 SF

Sign Date: Jan 2018


Lease Type: Direct

Floor: 1st Floor

Suite: B-5

LEASE TERM


TIME VACANT

Date Vacated: Nov 2017



TIME ON MARKET

Date On Market: Oct 2017



LEASING REP



Las Vegas, NV 89169



PROPERTY


Stories: 1


Ceiling Height: 22'


Land Acres: 3.60


Status: Built 1997

Tenancy: Multi

Class: B



MARKET AT LEASE


1.9%

0.7%


Submarket 2-4 Star

Market Overall 5.2%

6.1%


7.3%

7.3%


Submarket 2-4 Star


$0.56

-


0.2

126.8%12 Mo. Leased SF 4,954,425




702.250.6504



10 3020 N Walnut Rd - Walnut Business ParkLas Vegas, NV 89115 - North Las Vegas Ind Submarket

RENTS


PROPERTY EXPENSES

Taxes: $0.62/SF (2012)

LEASE

SF Leased: 5,718 SF

Sign Date: Dec 2017


Lease Type: Direct

Floor: 1st Floor

Suite: 110

LEASE TERM


TIME VACANT




TIME ON MARKET

Date On Market: Jul 2017



LEASING REP



Las Vegas, NV 89169

Jerry Doty (702) 836-3735

Chris Lane (702) 836-3728

PROPERTY


Stories: 1


Ceiling Height: 22'


Land Acres: 4.32


Status: Built 2008

Tenancy: Multi

Class: B



MARKET AT LEASE


0.7%

0.4%


Submarket 2-4 Star

Market Overall 5.6%

3.7%


6.9%

6.8%


Submarket 2-4 Star


$0.55


3.2

15.3%12 Mo. Leased SF 3,190,134




702.250.6504



11 730 W Cheyenne Ave - Bldg BNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket

RENTS


PROPERTY EXPENSES

Taxes: $0.89/SF (2012)


LEASE

SF Leased: 1,980 SF

Sign Date: Nov 2017


Lease Type: Direct

Floor: 1st Floor

Suite: B20

LEASE TERM

Start Date: Dec 2017

TIME VACANT


Date Occupied: Dec 2017


TIME ON MARKET


Date Off Market: Nov 2017


LEASING REP

JLL


Las Vegas, NV 89135


Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002

PROPERTY


Stories: 1




Land Acres: 7.50


Status: Built 2006

Tenancy: Multi

Class: B



MARKET AT LEASE


0.7%

0.4%


Submarket 2-4 Star

Market Overall 5.6%

3.7%


6.9%

6.8%


Submarket 2-4 Star


$0.55


3.2

15.3%12 Mo. Leased SF 3,190,134




702.250.6504




RENTS


PROPERTY EXPENSES

Taxes: $0.62/SF (2012)

LEASE

SF Leased: 12,079 SF

Sign Date: Nov 2017


Lease Type: Direct

Floor: 1st Floor

Suite: 130 - 140

LEASE TERM


TIME VACANT




TIME ON MARKET




LEASING REP



Las Vegas, NV 89169

Jerry Doty (702) 836-3735

Chris Lane (702) 836-3728

PROPERTY


Stories: 1


Ceiling Height: 22'


Land Acres: 4.32


Status: Built 2008

Tenancy: Multi

Class: B



MARKET AT LEASE


0.7%

0.4%


Submarket 2-4 Star

Market Overall 5.6%

3.7%


6.9%

6.8%


Submarket 2-4 Star


$0.55


3.2

15.3%12 Mo. Leased SF 3,190,134




702.250.6504




RENTS




PROPERTY EXPENSES

Taxes: $0.89/SF (2012)


LEASE

SF Leased: 1,559 SF

Sign Date: Oct 2017


Lease Type: Direct

Floor: 1st Floor

Suite: B150

LEASE TERM

Start Date: Nov 2017

TIME VACANT


Date Occupied: Nov 2017


TIME ON MARKET


Date Off Market: Oct 2017


LEASING REP

JLL


Las Vegas, NV 89135


Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002

PROPERTY


Stories: 1




Land Acres: 7.50


Status: Built 2006

Tenancy: Multi

Class: B



MARKET AT LEASE


0.7%

0.4%


Submarket 2-4 Star

Market Overall 5.6%

3.7%


6.9%

6.8%


Submarket 2-4 Star


$0.55


3.2

15.3%12 Mo. Leased SF 3,190,134




702.250.6504



6 4310 Losee Rd - Bldg ANorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket

RENTS


PROPERTY EXPENSES

Taxes: $0.76/SF (2012)

Operating Exp.: $1.80/SF (2010-Est)

LEASE

SF Leased: 5,050 SF

Sign Date: Oct 2017


Lease Type: Direct

Floor: 1st Floor

Suite: 4310-2

LEASE TERM


TIME VACANT

Date Vacated: Jun 2012



TIME ON MARKET

Date On Market: Jun 2012



LEASING REP



Las Vegas, NV 89169


PROPERTY


Stories: 1


Ceiling Height: 22'


Land Acres: 3.60


Status: Built 1997

Tenancy: Multi

Class: C



MARKET AT LEASE


0.7%

0.4%


Submarket 2-4 Star

Market Overall 5.6%

3.7%


6.9%

6.8%


Submarket 2-4 Star


$0.55


3.2

15.3%12 Mo. Leased SF 3,190,134




702.250.6504




RENTS


PROPERTY EXPENSES

Taxes: $0.67/SF (2012)


LEASE


Sign Date: Oct 2017


Lease Type: Direct

Floor: 1st Floor

Suite: 4336-B1-2

LEASE TERM


TIME VACANT

Date Vacated: Jun 2017



TIME ON MARKET

Date On Market: Apr 2014



LEASING REP



Las Vegas, NV 89169


PROPERTY


Stories: 1


Ceiling Height: 22'


Land Acres: 3.60


Status: Built 1997

Tenancy: Multi

Class: B



MARKET AT LEASE


0.7%

0.4%


Submarket 2-4 Star

Market Overall 5.6%

3.7%


6.9%

6.8%


Submarket 2-4 Star


$0.55

-


3.2

15.3%12 Mo. Leased SF 3,190,134




702.250.6504




TENANT

Tenant Name: Layout Co

Industry: Retailers/Wholesalers

NAICS: Hobby, Toy, and Game Stores - 451120

RENTS

Starting Rent: $0.56

PROPERTY EXPENSES

Taxes: $1.13/SF (2012)


LEASE

SF Leased: 7,402 SF

Sign Date: Oct 2017


Floor: 1st Floor

Suite: 120, 130

LEASE TERM


TIME VACANT


LEASING REP

Gatski Commercial

4755-4795 Dean Martin Dr, Suite # 4795

Las Vegas, NV 89103

Gabriel Telles (702) 221-8226

Ali Roesener (702) 221-8226

PROPERTY


Stories: 1


Ceiling Height: 18'


Land Acres: 7.60


Status: Built 2004

Tenancy: Multi

Class: B



MARKET AT LEASE


0.7%

0.4%


Submarket 2-4 Star

Market Overall 5.6%

3.7%


6.9%

6.8%


Submarket 2-4 Star


$0.55


3.2

15.3%12 Mo. Leased SF 3,190,134




702.250.6504




RENTS


PROPERTY EXPENSES

Taxes: $3.32/SF (2012)


LEASE

SF Leased: 1,610 SF

Sign Date: Sep 2017


Lease Type: Direct

Floor: 1st Floor

Suite: 304

LEASE TERM


Lease Term: 1 Year

TIME VACANT




TIME ON MARKET




LEASING REP

JLL


Las Vegas, NV 89135


Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002

PROPERTY


Stories: 1


Ceiling Height: 20'


Land Acres: 10.61


Status: Built 2001

Tenancy: Multi

Class: B



MARKET AT LEASE


0.9%

0.4%


Submarket 1-3 Star

Market Overall 6.6%

5.4%


7.5%

7.2%


Submarket 1-3 Star


$0.59


2.5

6.0%12 Mo. Leased SF 3,452,270




702.250.6504




TENANT

Tenant Name: Expansion of next door tenant

RENTS


PROPERTY EXPENSES

Taxes: $0.67/SF (2012)


LEASE

SF Leased: 6,336 SF

Sign Date: Aug 2017


Lease Type: Direct

Floor: 1st Floor

Suite: B-6

LEASE TERM


TIME VACANT



TIME ON MARKET



Months on Market: 0 Mos

LEASING REP



Las Vegas, NV 89169


PROPERTY


Stories: 1


Ceiling Height: 22'


Land Acres: 3.60


Status: Built 1997

Tenancy: Multi

Class: B



MARKET AT LEASE


0.4%

0.4%


Submarket 2-4 Star

Market Overall 6.6%

4.8%


7.2%

7.2%


Submarket 2-4 Star


$0.54

-


2.5

6.0%12 Mo. Leased SF 3,452,270




702.250.6504



12 4724 Mitchell St - GBS TwoNorth Las Vegas, NV 89081 - North Las Vegas Ind Submarket

RENTS




PROPERTY EXPENSES

Taxes: $1.63/SF (2012)


Total Exp.: $2.83/SF (2012)

LEASE


Sign Date: Jul 2017


Lease Type: Direct

Floor: 1st Floor

Suite: C-E

LEASE TERM


TIME VACANT

Date Vacated: Jul 2016



TIME ON MARKET


Date Off Market: Jul 2017


LEASING REP

CBRE



Kevin Higgins (702) 369-4944

Garrett Toft (702) 369-4868

Zac Zaher (702) 369-4877

Sean Zaher (702) 369-4863

Jake Higgins (702) 369-4844

PROPERTY


Stories: 1


Ceiling Height: 20'


Land Acres: 11.09


Status: Built 1997

Tenancy: Multi

Class: B



MARKET AT LEASE


0.4%

0.4%


Submarket 2-4 Star

Market Overall 6.6%

4.8%


7.2%

7.2%


Submarket 2-4 Star


$0.54


2.5

6.0%12 Mo. Leased SF 3,452,270




702.250.6504



12 4724 Mitchell St - GBS TwoNorth Las Vegas, NV 89081 - North Las Vegas Ind Submarket

RENTS




PROPERTY EXPENSES

Taxes: $1.63/SF (2012)


Total Exp.: $2.83/SF (2012)

LEASE

SF Leased: 6,400 SF

Sign Date: Jul 2017


Lease Type: Direct

Floor: 1st Floor

Suite: G

LEASE TERM

Start Date: Sep 2017

TIME VACANT


Date Occupied: Sep 2017


TIME ON MARKET




LEASING REP

CBRE



Kevin Higgins (702) 369-4944

Garrett Toft (702) 369-4868

Zac Zaher (702) 369-4877

Sean Zaher (702) 369-4863

Jake Higgins (702) 369-4844

PROPERTY


Stories: 1


Ceiling Height: 20'


Land Acres: 11.09


Status: Built 1997

Tenancy: Multi

Class: B



MARKET AT LEASE


0.4%

0.4%


Submarket 2-4 Star

Market Overall 6.6%

4.8%


7.2%

7.2%


Submarket 2-4 Star


$0.54


2.5

6.0%12 Mo. Leased SF 3,452,270




702.250.6504



13 537 E Brooks Ave - Bldg DNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket

TENANT

Tenant Name: Poolserv LLC

RENTS




Escalations: $0.03 Annual



PROPERTY EXPENSES

Taxes: $2.21/SF (2012)


LEASE

SF Leased: 3,300 SF

Sign Date: Jun 2017


Lease Type: Direct

Floor: 1st Floor

LEASE TERM


Expiration Date: Jul 2020

Lease Term: 3 Years 1 Month

TIME VACANT




TIME ON MARKET




TENANT REP

Sun Commercial Real Estate

6140 Brent Thurman Way, Suite 140


Michael T. Brazill (702) 968-7306

LEASING REP

JLL


Las Vegas, NV 89135

Jason Simon (702) 522-5001

PROPERTY


Stories: 1


Ceiling Height: 20'


Land Acres: 10.61


Status: Built 2001

Tenancy: Multi

Class: C



MARKET AT LEASE


0.0%

0.1%


Submarket 2-4 Star

Market Overall 6.3%

4.5%


7.1%

7.0%


Submarket 2-4 Star


$0.53


0.1

40.7%12 Mo. Leased SF 3,433,606




702.250.6504




RENTS




PROPERTY EXPENSES

Taxes: $3.30/SF (2012)


LEASE

SF Leased: 4,382 SF

Sign Date: May 2017


Lease Type: Direct

Floor: 1st Floor

Suite: 110/120

LEASE TERM


TIME VACANT


TIME ON MARKET


Date Off Market: May 2017


LEASING REP

JLL


Las Vegas, NV 89135


Rob Lujan (702) 522-5002

Jason Simon (702) 522-5001

PROPERTY


Stories: 1




Land Acres: 1.45


Status: Built 2008

Tenancy: Multi

Class: B



MARKET AT LEASE


0.5%

0.1%


Submarket 1-3 Star

Market Overall 6.3%

4.6%


7.3%

7.0%


Submarket 1-3 Star


$0.57


0.1

40.7%12 Mo. Leased SF 3,433,606




702.250.6504




TENANT

Tenant Name: Rose Parra

RENTS


PROPERTY EXPENSES

Taxes: $1.13/SF (2012)


LEASE

SF Leased: 873 SF

Sign Date: May 2017


Lease Type: Direct

Floor: 1st Floor

Suite: D180

LEASE TERM

Start Date: May 2017

TIME VACANT


Date Occupied: May 2017


TIME ON MARKET




TENANT REP

Mountain West Commercial

241 W Charleston Blvd

Las Vegas, NV 89102

Jakke Farley (702) 340-0907

LEASING REP

JLL


Las Vegas, NV 89135


Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002

PROPERTY


Stories: 1


Ceiling Height: 18'


Land Acres: 7.60


Status: Built 2004

Tenancy: Multi

Class: B



MARKET AT LEASE


0.0%

0.1%


Submarket 2-4 Star

Market Overall 6.3%

4.5%


7.1%

7.0%


Submarket 2-4 Star


$0.53


0.1

40.7%12 Mo. Leased SF 3,433,606




702.250.6504



14 3950-3970 Las Vegas BlvdLas Vegas, NV 89115 - North Las Vegas Ind Submarket

RENTS


PROPERTY EXPENSES

Taxes: $0.54/SF (2012)

LEASE

SF Leased: 2,500 SF

Sign Date: May 2017


Lease Type: Direct

Floor: 1st Floor

LEASE TERM


TIME VACANT




TIME ON MARKET




LEASING REP

Roger Pitts

13405 Telegraph Rd, Suite 120

Whittier, CA 90605-3435

Roger Pitts (702) 557-5141

PROPERTY


Stories: 2


Ceiling Height: 20'


Land Acres: 2.08


Status: Built 2000

Tenancy: Multi

Class: B



MARKET AT LEASE


0.5%

0.1%


Submarket 1-3 Star

Market Overall 6.3%

4.6%


7.3%

7.0%


Submarket 1-3 Star


$0.57

-


0.1

40.7%12 Mo. Leased SF 3,433,606




702.250.6504




TENANT

Tenant Name: BG Southern Nevada LLC

RENTS



Escalations: 3% Annual

PROPERTY EXPENSES

Taxes: $0.79/SF (2017)


LEASE

SF Leased: 3,828 SF

Sign Date: May 2017


Lease Type: Direct

Floor: 1st Floor

LEASE TERM



Lease Term: 3 Years

TIME VACANT


LEASING REP



Las Vegas, NV 89169

Michael G. DeLew (702) 470-0780


PROPERTY


Stories: 1


Ceiling Height: 17'


Land Acres: 3.13


Status: Built 2004

Tenancy: Multi

Class: A



MARKET AT LEASE


0.0%

0.1%


Submarket 2-4 Star

Market Overall 6.3%

4.5%


7.1%

7.0%


Submarket 2-4 Star


$0.53


0.1

40.7%12 Mo. Leased SF 3,433,606




702.250.6504




RENTS





PROPERTY EXPENSES

Taxes: $0.89/SF (2012)


LEASE

SF Leased: 5,775 SF

Sign Date: May 2017


Lease Type: Direct

Floor: 1st Floor

Suite: B90

LEASE TERM


Lease Term: 1 Year

TIME VACANT




TIME ON MARKET




LEASING REP

JLL


Las Vegas, NV 89135

Rob Lujan (702) 522-5002

Jason Simon (702) 522-5001


PROPERTY


Stories: 1




Land Acres: 7.50


Status: Built 2006

Tenancy: Multi

Class: B



MARKET AT LEASE


0.0%

0.1%


Submarket 2-4 Star

Market Overall 6.3%

4.5%


7.1%

7.0%


Submarket 2-4 Star


$0.53


0.1

40.7%12 Mo. Leased SF 3,433,606




702.250.6504




TENANT

Tenant Name: Nemra

RENTS

Starting Rent: $0.45/MG

Effective Rent: $0.45/MG

PROPERTY EXPENSES

Taxes: $0.62/SF (2012)

LEASE

SF Leased: 5,687 SF

Sign Date: Apr 2017


Lease Type: Direct

Floor: 1st Floor

LEASE TERM


Expiration Date: Apr 2022

Lease Term: 5 Years

TIME VACANT


LEASING REP




Cathy Jones (702) 968-7320

PROPERTY


Stories: 1


Ceiling Height: 22'


Land Acres: 4.32


Status: Built 2008

Tenancy: Multi

Class: B



MARKET AT LEASE


0.0%

0.1%


Submarket 2-4 Star

Market Overall 6.3%

4.5%


7.1%

7.0%


Submarket 2-4 Star


$0.53


0.1

40.7%12 Mo. Leased SF 3,433,606




702.250.6504




TENANT

Tenant Name: MJGYCO

RENTS

Starting Rent: $0.45/MG

Effective Rent: $0.48/MG

Escalations: 3% Annual

PROPERTY EXPENSES

Taxes: $0.62/SF (2012)

LEASE

SF Leased: 5,685 SF

Sign Date: Apr 2017


Lease Type: Direct

Floor: 1st Floor

LEASE TERM


Expiration Date: Jun 2020

Lease Term: 3 Years

TIME VACANT


LEASING REP




Renae E. Russo, LEED GA (702) 968-7319

Cathy Jones (702) 968-7320

PROPERTY


Stories: 1


Ceiling Height: 22'


Land Acres: 4.32


Status: Built 2008

Tenancy: Multi

Class: B



MARKET AT LEASE


0.0%

0.1%


Submarket 2-4 Star

Market Overall 6.3%

4.5%


7.1%

7.0%


Submarket 2-4 Star


$0.53


0.1

40.7%12 Mo. Leased SF 3,433,606




702.250.6504




RENTS






PROPERTY EXPENSES

Taxes: $0.89/SF (2012)


LEASE

SF Leased: 1,639 SF

Sign Date: Apr 2017


Lease Type: Direct

Floor: 1st Floor

Suite: B40

LEASE TERM


TIME VACANT




TIME ON MARKET




LEASING REP

JLL


Las Vegas, NV 89135

Rob Lujan (702) 522-5002

Jason Simon (702) 522-5001

PROPERTY


Stories: 1




Land Acres: 7.50


Status: Built 2006

Tenancy: Multi

Class: B



MARKET AT LEASE


0.0%

0.1%


Submarket 2-4 Star

Market Overall 6.3%

4.5%


7.1%

7.0%


Submarket 2-4 Star


$0.53


0.1

40.7%12 Mo. Leased SF 3,433,606




702.250.6504




RENTS






PROPERTY EXPENSES

Taxes: $0.89/SF (2012)


LEASE

SF Leased: 1,639 SF

Sign Date: Apr 2017


Lease Type: Direct

Floor: 1st Floor

Suite: B140

LEASE TERM


TIME VACANT




TIME ON MARKET




LEASING REP

JLL


Las Vegas, NV 89135

Rob Lujan (702) 522-5002

Jason Simon (702) 522-5001

PROPERTY


Stories: 1




Land Acres: 7.50


Status: Built 2006

Tenancy: Multi

Class: B



MARKET AT LEASE


0.0%

0.1%


Submarket 2-4 Star

Market Overall 6.3%

4.5%


7.1%

7.0%


Submarket 2-4 Star


$0.53


0.1

40.7%12 Mo. Leased SF 3,433,606




702.250.6504



9 6845 Speedway Blvd - Bldg KLas Vegas, NV 89115 - Speedway Ind Submarket

TENANT

Tenant Name: Tilbury Enterprises

RENTS





PROPERTY EXPENSES

Taxes: $0.23/SF (2015)


LEASE

SF Leased: 7,592 SF

Sign Date: Mar 2017


Lease Type: Direct

Floor: 1st Floor

Suite: 101

LEASE TERM



Lease Term: 1 Year

TIME VACANT




TIME ON MARKET




LEASING REP

JLL


Las Vegas, NV 89135

Rob Lujan (702) 522-5002

Jason Simon (702) 522-5001


PROPERTY


Stories: 1




Land Acres: 3.79


Status: Built 1998

Tenancy: Multi

Class: C



MARKET AT LEASE


1.2%

0.0%


Submarket 2-4 Star

Market Overall 5.9%

8.4%


7.9%

7.4%


Submarket 2-4 Star


$0.46


0.9

157.5%12 Mo. Leased SF 430,907




702.250.6504




RENTS





PROPERTY EXPENSES

Taxes: $3.32/SF (2012)


LEASE

SF Leased: 1,610 SF

Sign Date: Jan 2017


Lease Type: Direct

Floor: 1st Floor

Suite: C-306

LEASE TERM


TIME VACANT




TIME ON MARKET




LEASING REP

JLL


Las Vegas, NV 89135

Jason Simon (702) 522-5001


Rob Lujan (702) 522-5002

PROPERTY


Stories: 1


Ceiling Height: 20'


Land Acres: 10.61


Status: Built 2001

Tenancy: Multi

Class: B



MARKET AT LEASE


0.4%

0.0%


Submarket 1-3 Star

Market Overall 5.9%

4.4%


7.8%

7.4%


Submarket 1-3 Star


$0.56


2.1

125.2%12 Mo. Leased SF 3,768,600




702.250.6504




RENTS





PROPERTY EXPENSES

Taxes: $1.13/SF (2012)


LEASE

SF Leased: 2,100 SF

Sign Date: Jan 2017


Lease Type: Direct

Floor: 1st Floor

Suite: D170

LEASE TERM


TIME VACANT




TIME ON MARKET




LEASING REP

JLL


Las Vegas, NV 89135


Jason Simon (702) 522-5001

Rob Lujan (702) 522-5002

PROPERTY


Stories: 1


Ceiling Height: 18'


Land Acres: 7.60


Status: Built 2004

Tenancy: Multi

Class: B



MARKET AT LEASE


0.3%

0.0%


Submarket 2-4 Star

Market Overall 5.9%

4.2%


7.8%

7.4%


Submarket 2-4 Star


$0.52


2.1

125.2%12 Mo. Leased SF 3,768,600




702.250.6504




RENTS




PROPERTY EXPENSES

Taxes: $3.30/SF (2012)


LEASE

SF Leased: 4,382 SF

Sign Date: Dec 2016


Lease Type: Direct

Floor: 1st Floor

Suite: 150/160

LEASE TERM

Start Date: Jan 2017

TIME VACANT


Date Occupied: Jan 2017


TIME ON MARKET


Date Off Market: Dec 2016


LEASING REP

JLL


Las Vegas, NV 89135


Rob Lujan (702) 522-5002

Jason Simon (702) 522-5001

PROPERTY


Stories: 1




Land Acres: 1.45


Status: Built 2008

Tenancy: Multi

Class: B



MARKET AT LEASE


0.4%

0.1%


Submarket 1-3 Star

Market Overall 6.0%

4.3%


8.8%

8.3%


Submarket 1-3 Star


$0.55


0.5

72.7%12 Mo. Leased SF 3,767,377




702.250.6504




RENTS




PROPERTY EXPENSES

Taxes: $3.30/SF (2012)


LEASE

SF Leased: 3,312 SF

Sign Date: Dec 2016


Lease Type: Direct

Floor: 1st Floor

Suite: 170

LEASE TERM

Start Date: Jan 2017

TIME VACANT


Date Occupied: Jan 2017


TIME ON MARKET




LEASING REP

JLL


Las Vegas, NV 89135


Rob Lujan (702) 522-5002

Jason Simon (702) 522-5001

PROPERTY


Stories: 1




Land Acres: 1.45


Status: Built 2008

Tenancy: Multi

Class: B



MARKET AT LEASE


0.4%

0.1%


Submarket 1-3 Star

Market Overall 6.0%

4.3%


8.8%

8.3%


Submarket 1-3 Star


$0.55


0.5

72.7%12 Mo. Leased SF 3,767,377




702.250.6504




RENTS




PROPERTY EXPENSES

Taxes: $0.62/SF (2012)

LEASE

SF Leased: 5,707 SF

Sign Date: Dec 2016


Lease Type: Direct

Floor: 1st Floor

Suite: 180

LEASE TERM


TIME VACANT




TIME ON MARKET

Date On Market: Dec 2012



LEASING REP




David Livingston

Roy Fritz (702) 968-7322

PROPERTY


Stories: 1


Ceiling Height: 22'


Land Acres: 4.32


Status: Built 2008

Tenancy: Multi

Class: B



MARKET AT LEASE


0.6%

0.1%


Submarket 2-4 Star

Market Overall 6.0%

4.4%


9.0%

8.3%


Submarket 2-4 Star


$0.51


0.5

72.7%12 Mo. Leased SF 3,767,377




702.250.6504




TENANT

Tenant Name: Sun Woo Jang

RENTS




PROPERTY EXPENSES

Taxes: $0.62/SF (2012)

LEASE

SF Leased: 5,685 SF

Sign Date: Nov 2016


Lease Type: Direct

Floor: 1st Floor

Suite: 140

LEASE TERM


TIME VACANT


TIME ON MARKET




LEASING REP




Cathy Jones (702) 968-7320

David Livingston

Roy Fritz (702) 968-7322


8160 N Hayden Rd, Suite J-208

Scottsdale, AZ 85258-2484

Paul Miachika (602) 814-0661

PROPERTY


Stories: 1


Ceiling Height: 22'


Land Acres: 4.32


Status: Built 2008

Tenancy: Multi

Class: B



MARKET AT LEASE


0.6%

0.1%


Submarket 2-4 Star

Market Overall 6.0%

4.4%


9.0%

8.3%


Submarket 2-4 Star


$0.51


0.5

72.7%12 Mo. Leased SF 3,767,377




702.250.6504




RENTS




PROPERTY EXPENSES

Taxes: $0.62/SF (2012)

LEASE

SF Leased: 5,750 SF

Sign Date: Oct 2016


Lease Type: Direct

Floor: 1st Floor

Suite: 150

LEASE TERM

Start Date: Dec 2016

TIME VACANT

Date Occupied: Dec 2016

TIME ON MARKET




LEASING REP




David Livingston

Roy Fritz (702) 968-7322

PROPERTY


Stories: 1


Ceiling Height: 22'


Land Acres: 4.32


Status: Built 2008

Tenancy: Multi

Class: B



MARKET AT LEASE


0.6%

0.1%


Submarket 2-4 Star

Market Overall 6.0%

4.4%


9.0%

8.3%


Submarket 2-4 Star


$0.51


0.5

72.7%12 Mo. Leased SF 3,767,377




702.250.6504




TENANT

Tenant Name: Peravan LLC

RENTS






PROPERTY EXPENSES

Taxes: $0.79/SF (2017)


LEASE

SF Leased: 4,646 SF

Sign Date: Oct 2016


Lease Type: Direct

Floor: 1st Floor

Suite: 4535-B

LEASE TERM



Lease Term: 3 Years

TIME VACANT




TIME ON MARKET




LEASING REP



Las Vegas, NV 89169


PROPERTY


Stories: 1


Ceiling Height: 17'


Land Acres: 3.13


Status: Built 2004

Tenancy: Multi

Class: A



MARKET AT LEASE


0.6%

0.1%


Submarket 2-4 Star

Market Overall 6.0%

4.4%


9.0%

8.3%


Submarket 2-4 Star


$0.51


0.5

72.7%12 Mo. Leased SF 3,767,377




702.250.6504




RENTS




PROPERTY EXPENSES

Taxes: $0.89/SF (2012)


LEASE

SF Leased: 4,684 SF

Sign Date: Oct 2016


Lease Type: Direct

Floor: 1st Floor

Suite: B10/20

LEASE TERM


TIME VACANT




TIME ON MARKET




LEASING REP

JLL


Las Vegas, NV 89135

Rob Lujan (702) 522-5002

Jason Simon (702) 522-5001

PROPERTY


Stories: 1




Land Acres: 7.50


Status: Built 2006

Tenancy: Multi

Class: B



MARKET AT LEASE


0.6%

0.1%


Submarket 2-4 Star

Market Overall 6.0%

4.4%


9.0%

8.3%


Submarket 2-4 Star


$0.51


0.5

72.7%12 Mo. Leased SF 3,767,377




702.250.6504



PREPARED BY

Casey Whiting


Construction Comps


All-Time Annual Avg. SF

1,166,312Delivered SF Past 4 Qtrs

2,403,416Delivery SF Next 4 Qtrs

4,648,612Proposed SF Next 4 Qtrs

2,587,761PAST 4 QUARTERS DELIVERIES, UNDER CONSTRUCTION, & PROPOSED

PAST & FUTURE DELIVERIES IN SQUARE FEET

Overall Construction Summary3950-3970 Las Vegas Blvd



702.250.6504

ConstructionLas Vegas Industrial

The development tides have shifted in Las Vegas, withover 7 million SF delivered in 2017, 95% of which waslogistics space. This new supply accounted for nearly 6%of the entire Las Vegas logistics inventory—a sizableaddition for one calendar year. This is more than doublethe 3.2 million SF delivered in 2016, and the metro’sannual historical average is approximately 3 million SF.An additional 5,144,649 SF is under construction (thevast majority logistics), a sign that developers may bebullish on the Las Vegas market because of the solidabsorption of the past four years.

Several sizable buildings have started constructionrecently. Currently under way by developer Prologis area 632,000-SF logistics building and 525,000-SFdistribution center for Bed Bath & Beyond, both in theSpeedway Submarket. In the North Las VegasSubmarket, SunCap Property Group broke groundrecently on three warehouse buildings in the SunPointCrossing development. The 290,000-SF, 255,000-SFand 208,000-SF buildings are expected for delivery inearly 2019.

DELIVERIES & DEMOLITIONS



702.250.6504

ConstructionNorth Las Vegas Industrial

DELIVERIES & DEMOLITIONS



702.250.6504


All-Time Annual Avg. SF

629,448Delivered SF Past 4 Qtrs

2,403,416Delivered SF Next 4 Qtrs

2,473,463Proposed SF Next 4 Qtrs

1,055,031PAST 4 QUARTERS DELIVERIES, UNDER CONSTRUCTION, & PROPOSED

PAST & FUTURE DELIVERIES IN SQUARE FEET



702.250.6504


RECENT DELIVERIES

Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner

Dec-20174640 Nexus Way

Building # 4215,804 1 Jul-2018

VanTrust Real Estate LLC

-1

Dec-20174305 N Lamb Blvd

Lamb Industrial Park122,291 1 Jun-2018

Viawest Group

-2

Sep-20174325 Corporate Center Dr

Matter @ Craig155,790 1 May-2018

Matter Real Estate Group

Christie Lites Chicago3

May-20174265 Corporate Center Dr

Prologis Corporate Cent…131,750 1 Apr-2018

Prologis

Prologis4

Mar-20173910 Alto Ave

DHL Supply Chain338,520 - Mar-2018

Scannell Development Company

Clarion Partners5

Jun-20175430 Donovan Way

5430 Donovan Way - Bld…731,561 1 Feb-2018


Global Logistic Properties6

Jul-20174050 Corporate Center Dr

Prologis Corporate Cent…130,515 1 Feb-2018

TWC Construction

Prologis7

May-20162855 E Lone Mountain Rd

Phase II247,126 1 Dec-2017

The Pauls Corporation

-8

Apr-20165840 Donovan Way

Northgate Distribution C…191,026 1 Oct-2017


Global Logistic Properties Ltd9

Oct-2016Corporate Center Dr & Civ

Prologis Corporate Cent…100,633 1 Oct-2017

-

-10

Jun-20172855 E Lone Mountain Rd

38,400 1 Oct-2017-

-11

Apr-20173515 N Las Vegas Blvd

LogistiCenter at Las Veg…546,480 1 Sep-2017

United Construction Company

Dermody Properties, Inc.12

Nov-20164550 Nexus Way

Amazon813,120 1 Sep-2017



May-20165550 Donovan Way

The Honest Co570,810 - Aug-2017



Jun-20164490 Nexus Way

Northgate Distribution C…558,000 1 Jul-2017



UNDER CONSTRUCTION


Jul-20185265 N Sloan Ln

Bldg 3632,324 1 Mar-2019

Prologis

Prologis1

May-20185835 E Ann Rd

Bed Bath & Beyond Distr…525,200 - May-2019

Prologis

Prologis2


Bldg 4376,264 1 Mar-2019

-

Prologis3

Jul-2018N Las Vegas Blvd. & Lam…

Building 2290,203 1 Jan-2019

-

-4


Building 3254,592 1 Jan-2019

-

-5



702.250.6504






















UNDER CONSTRUCTION



Building 1207,739 1 Jan-2019

SunCap Property Group

SunCap Property Group6

Jan-2018E Craig Rd

Craig @ Walnut - Buildin…39,395 1 Oct-2018

LaPour Partners

-7

Jun-20184456 E Craig Rd

Copper Sage Commerce…39,180 1 Dec-2018

TWC Construction

-8

Jan-2018E Craig Rd


LaPour Partners

-9

Jan-2018E Craig Rd


-

-10

Jan-2018E Craig Rd


-

-11

May-20184615 Industry Center Dr

5,557 SF Bldg w/ Enclos…16,034 1 Nov-2018

-

-12


10,477 SF Freestanding…10,477 1 Oct-2018

-

-13

PROPOSED


Sep-20186200 Range Rd

Interchange Distribution…423,280 1 Sep-2019

-

-1

Sep-2018Donovan Way & Tropical…

196,300 - Jul-2019-

-2

Sep-20182900 Clayton St

162,760 1 Sep-2019-

-3

Sep-20184300 N Lamb Blvd

122,291 1 Mar-2019-

-4

Sep-20182617 N Lamb Blvd

78,400 1 May-2019-

-5

Sep-20185000 Losee Rd

72,000 1 Mar-2019Tiberti Management Company

J. A. Tiberti Constr. Co.6



702.250.6504















UNDER CONSTRUCTION IN SQUARE FEET

PROJECTED DELIVERIES IN SQUARE FEET

5 Mile Radius Construction Activity3950-3970 Las Vegas Blvd



702.250.6504


DELIVERIES IN SQUARE FEET

STARTS IN SQUARE FEET



702.250.6504


PERCENT OCCUPIED AT DELIVERY

DELIVERIES AND OCCUPANCY IN SQUARE FEET



702.250.6504


NEW CONSTRUCTION OCCUPANCY AFTER DELIVERY BY YEAR BUILT

NET ABSORPTION IN SQUARE FEET



702.250.6504





702.250.6504

Properties

17Square Feet

4,648,612Percent of Inventory

11.7%Preleased

46.7%UNDER CONSTRUCTION PROPERTIES

UNDER CONSTRUCTION SUMMARY STATISTICS

Low Average Median High

Building SF 10,477 273,448 213,785 855,000

Ceiling Height 20' 29'4" 32' 36'

Docks 3 32 28 98

Preleasing 0% 46.7% 0% 100%

Estimated Delivery Date October 2018 January 2019 January 2019 August 2019

Months to Delivery 1 4 4 11

Construction Period in Months 5 8 8 13

Star Rating 3.9

Under Construction Summary3950-3970 Las Vegas Blvd



702.250.6504

Under Construction Summary3950-3970 Las Vegas Blvd

COMPLETIONS WITHIN NEXT 3 MONTHS

Property Name/Address Rating Bldg SF Ceiling Ht Start Complete Developer/Owner

Jan-20186335 N Hollywood Blvd

Bldg A390,904 32' Oct-2018


-1

Jan-2018E Craig Rd

Craig @ Walnut - Buildin…39,395 24' Oct-2018

LaPour Partners

-2

Jan-2018E Craig Rd


LaPour Partners

-3

Jan-2018E Craig Rd


-

-4

Jan-2018E Craig Rd


-

-5


10,477 SF Freestanding…10,477 20' Oct-2018

-

-6


5,557 SF Bldg w/ Enclos…16,034 20' Nov-2018

-

-7

Jun-20184456 E Craig Rd

Copper Sage Commerce…39,180 28' Dec-2018

TWC Construction

-8

COMPLETIONS 3-6 MONTHS AWAY



Building 2290,203 32' Jan-2019

-

-9


Building 3254,592 32' Jan-2019

-

-10

Jun-20186405 E Centennial Pky

Centennial Commerce C…213,785 32' Jan-2019

Panatoni Company

-11


Building 1207,739 32' Jan-2019

SunCap Property Group

SunCap Property Group12


Bldg 3632,324 36' Mar-2019

Prologis

Prologis13


Bldg 4376,264 36' Mar-2019

-

Prologis14

COMPLETIONS MORE THAN 6 MONTHS AWAY


May-20185835 E Ann Rd

Bed Bath & Beyond Distr…525,200 36' May-2019

Prologis

Prologis15

Jul-20186001 E Tropical Pky

Amazon855,000 32' Aug-2019

-

-16

Jul-2018NEC N Sloan Ln. & E Ann…

Sephora715,460 36' Aug-2019

-

-17



702.250.6504


















Under Construction Property Details3950-3970 Las Vegas Blvd

1 6335 N Hollywood Blvd - Bldg ADistance to Subject Property: 3.8 Miles

AVAILABILITY

Percent Leased: 19.1%

Available SF: 316,389

Asking Rent: $0.48

PROPERTY

Type: Class A Industrial

Year Built: 2018

RBA: 390,904 SF

Ceiling Height: 32'

Docks: 62 ext

Power: 7,000a/277-480v 3p Heavy

Cranes: -

Rail Served: -

Parking Spaces: 368: 0.94/1,000 SF

CONSTRUCTION

Start Date: Jan-2018

Completion Date: Oct-2018

Build Time: 9 Months

Time To Delivery: 1 Month

CONTACTS

Developer: Harsch Investment Prop…

Owner: -

2 E Craig Rd @ Walnut Rd - Craig @ Walnut - Building #1Distance to Subject Property: 1.2 Miles

AVAILABILITY

Percent Leased: 0%


Asking Rent: -

PROPERTY


Year Built: 2018

RBA: 39,395 SF

Ceiling Height: 24'

Docks: 6 ext

Power: 800a Heavy

Cranes: -

Rail Served: None


CONSTRUCTION





CONTACTS

Developer: LaPour Partners

Owner: -



702.250.6504




3 E Craig Rd @ Walnut - Craig @ Walnut - Building #4Distance to Subject Property: 1.3 Miles

AVAILABILITY

Percent Leased: 0%


Asking Rent: -

PROPERTY


Year Built: 2018

RBA: 32,535 SF

Ceiling Height: 24'

Docks: 4 ext

Power: 800a Heavy

Cranes: -

Rail Served: None


CONSTRUCTION





CONTACTS

Developer: LaPour Partners

Owner: -


AVAILABILITY

Percent Leased: 0%


Asking Rent: -

PROPERTY


Year Built: 2018

RBA: 27,280 SF

Ceiling Height: 24'

Docks: 4 ext

Power: 600a

Cranes: -

Rail Served: None


CONSTRUCTION





CONTACTS

Developer: -

Owner: -



702.250.6504





AVAILABILITY

Percent Leased: 0%


Asking Rent: -

PROPERTY


Year Built: 2018

RBA: 22,240 SF

Ceiling Height: 24'

Docks: 4 ext

Power: 600a

Cranes: -

Rail Served: None


CONSTRUCTION





CONTACTS

Developer: -

Owner: -

6 4609 Industry Center Dr - 10,477 SF Freestanding Bldg w/ Enclosed YardDistance to Subject Property: 1.0 Miles

AVAILABILITY

Percent Leased: 0%


Asking Rent: -

PROPERTY


Year Built: Delivers Oct 2018

RBA: 10,477 SF

Ceiling Height: 20'

Docks: -

Power: 1,200a/120-208v 3p 4w H…

Cranes: -

Rail Served: None

Parking Spaces: 2.77/1,000 SF

CONSTRUCTION

Start Date: May-2018




CONTACTS

Developer: -

Owner: -



702.250.6504




7 4615 Industry Center Dr - 5,557 SF Bldg w/ Enclosed YardDistance to Subject Property: 1.0 Miles

AVAILABILITY

Percent Leased: 0%


Asking Rent: $0.87

PROPERTY


Year Built: Delivers Nov 2018

RBA: 16,034 SF

Ceiling Height: 20'

Docks: -

Power: 600a/120-208v 3p 4w

Cranes: -

Rail Served: Yes


CONSTRUCTION


Completion Date: Nov-2018


Time To Delivery: 2 Months

CONTACTS

Developer: -

Owner: -

8 4456 E Craig Rd - Copper Sage Commerce Center WestDistance to Subject Property: 0.8 Miles

AVAILABILITY

Percent Leased: 0%


Asking Rent: $0.05

PROPERTY

Type: Class Industrial

Year Built: Delivers Dec 2018

RBA: 39,180 SF

Ceiling Height: 28'

Docks: 8 ext

Power: 800a/277-480v 3p 4w He…

Cranes: -

Rail Served: None


CONSTRUCTION

Start Date: Jun-2018

Completion Date: Dec-2018



CONTACTS

Developer: TWC Construction

Owner: -



702.250.6504




9 N Las Vegas Blvd. & Lamb Blvd - Building 2Distance to Subject Property: 0.7 Miles

AVAILABILITY

Percent Leased: 0%


Asking Rent: -

PROPERTY


Year Built: Delivers Jan 2019

RBA: 290,203 SF

Ceiling Height: 32'

Docks: 3 ext

Power: -

Cranes: -

Rail Served: None


CONSTRUCTION

Start Date: Jul-2018

Completion Date: Jan-2019



CONTACTS

Developer: -

Owner: -


AVAILABILITY

Percent Leased: 0%


Asking Rent: -

PROPERTY



RBA: 254,592 SF

Ceiling Height: 32'

Docks: 57 ext

Power: -

Cranes: -

Rail Served: None


CONSTRUCTION





CONTACTS

Developer: -

Owner: -



702.250.6504




11 6405 E Centennial Pky - Centennial Commerce CenterDistance to Subject Property: 3.6 Miles

AVAILABILITY

Percent Leased: 0%


Asking Rent: $0.49

PROPERTY



RBA: 213,785 SF

Ceiling Height: 32'

Docks: 28 ext

Power: 2,000a/277-480v 3p 4w H…

Cranes: -

Rail Served: None


CONSTRUCTION





CONTACTS

Developer: Panatoni Company

Owner: -


AVAILABILITY

Percent Leased: 0%


Asking Rent: -

PROPERTY



RBA: 207,739 SF

Ceiling Height: 32'

Docks: 37 ext

Power: -

Cranes: -

Rail Served: None


CONSTRUCTION





CONTACTS

Developer: SunCap Property Group

Owner: SunCap Property Group



702.250.6504




13 5265 N Sloan Ln - Bldg 3Distance to Subject Property: 2.1 Miles

AVAILABILITY

Percent Leased: 0%


Asking Rent: -

PROPERTY


Year Built: Delivers Mar 2019

RBA: 632,324 SF

Ceiling Height: 36'

Docks: 98 ext


Cranes: -

Rail Served: -


CONSTRUCTION


Completion Date: Mar-2019



CONTACTS

Developer: Prologis

Owner: Prologis

14 5245 N Sloan Ln - Bldg 4Distance to Subject Property: 2.2 Miles

AVAILABILITY

Percent Leased: 0%


Asking Rent: -

PROPERTY


Year Built: Delivers Mar 2019

RBA: 376,264 SF

Ceiling Height: 36'

Docks: 49 ext


Cranes: -

Rail Served: -

Parking Spaces: -

CONSTRUCTION





CONTACTS

Developer: -

Owner: Prologis



702.250.6504




15 5835 E Ann Rd - Bed Bath & Beyond Distribution CenterDistance to Subject Property: 2.4 Miles

AVAILABILITY

Percent Leased: 100%

Available SF: -

Asking Rent: -

PROPERTY


Year Built: Delivers May 2019

RBA: 525,200 SF

Ceiling Height: 36'

Docks: 60 ext

Power: 2,500-4,000a Heavy

Cranes: -

Rail Served: -

Parking Spaces: -

CONSTRUCTION


Completion Date: May-2019



CONTACTS

Developer: Prologis

Owner: Prologis

Name SF Sign Date Expiration Date

KEY TENANTS

Bed Bath & Beyond 525,200 Jun-2016 -

16 6001 E Tropical Pky - AmazonDistance to Subject Property: 2.8 Miles

AVAILABILITY


Available SF: -

Asking Rent: -

PROPERTY


Year Built: Delivers Aug 2019

RBA: 855,000 SF

Ceiling Height: 32'

Docks: -

Power: 277-480v 3p

Cranes: -

Rail Served: -


CONSTRUCTION


Completion Date: Aug-2019



CONTACTS

Developer: -

Owner: -


KEY TENANTS

Amazon 855,000 Jun-2018 Aug-2034



702.250.6504




17 NEC N Sloan Ln. & E Ann Rd - SephoraDistance to Subject Property: 2.8 Miles

AVAILABILITY


Available SF: -

Asking Rent: -

PROPERTY


Year Built: Delivers Aug 2019

RBA: 715,460 SF

Ceiling Height: 36'

Docks: -

Power: 277-480v 3p

Cranes: -

Rail Served: -


CONSTRUCTION





CONTACTS

Developer: -

Owner: -


KEY TENANTS

Sephora 715,460 Jun-2018 Aug-2031



702.250.6504


Properties

15Square Feet

4,891,826Percent Leased

73.5%Asking Rent

$0.42COMPLETED CONSTRUCTION PAST 12 MONTHS

CONSTRUCTION SUMMARY STATISTICS

Low Average Median High

RBA 38,400 326,122 215,804 813,120


Docks 7 52 39 124

Leases Signed 0 1 1 3

Percent Leased 0% 73.5% 100% 100%

Asking Rent $0.39 $0.42 $0.43 $0.53

Star Rating 4.1

Completed Construction Past 12 Months3950-3970 Las Vegas Blvd



702.250.6504

Completed Construction Past 12 Months3950-3970 Las Vegas Blvd

Property Name/Address Rating RBA Ceiling Ht Complete Leased Developer/Owner

Jul-20184640 Nexus Way

Building # 4215,804 32' 0%


-1

Jun-20184305 N Lamb Blvd

Lamb Industrial Park122,291 28' 33.4%

Viawest Group

-2

May-20184325 Corporate Center Dr

Matter @ Craig155,790 30' 100%


Christie Lites Chicago3

Apr-20184265 Corporate Center Dr

Prologis Corporate Cent…131,750 32' 100%

Prologis

Prologis4

Mar-20183910 Alto Ave

DHL Supply Chain338,520 32' 100%


Clarion Partners5

Feb-20185430 Donovan Way

5430 Donovan Way - Bld…731,561 36' 0%


Global Logistic Properties6

Feb-20184050 Corporate Center Dr

Prologis Corporate Cent…130,515 32' 41.0%

TWC Construction

Prologis7

Dec-20172855 E Lone Mountain Rd

Phase II247,126 32' 100%


-8

Oct-20175840 Donovan Way

Northgate Distribution C…191,026 32' 0%



Oct-2017Corporate Center Dr & Civ

Prologis Corporate Cent…100,633 32' 100%

-

-10

Oct-20172855 E Lone Mountain Rd

38,400 - 100%-

-11

Sep-20173515 N Las Vegas Blvd

LogistiCenter at Las Veg…546,480 36' 100%


Dermody Properties, Inc.12

Sep-20174550 Nexus Way

Amazon813,120 - 100%



Aug-20175550 Donovan Way

The Honest Co570,810 36' 100%



Jul-20174490 Nexus Way

Northgate Distribution C…558,000 36' 100%





702.250.6504
















Deliveries Past 12 Months3950-3970 Las Vegas Blvd

1 4640 Nexus Way - Building # 4Las Vegas, NV 89115 - North Las Vegas Ind Submarket

AVAILABILITY

Percent Leased: 0%


Asking Rent: -

PROPERTY

Type: Industrial Distributi…

Yr Blt/Renov: 2018

Property Size: 215,804 SF

Ceiling Height: 32'

Docks: 48 ext

Power: 277a/480v 3p


Distance To Subj… 2.5 Miles

-CONSTRUCTION

Start Date: Dec-2017

Completion Date: Jul-2018


Time Since Delivery: 2 Months

DEVELOPER


-

AVAILABLE SPACES

Rent

Space Type

Floor Use

Square Feet

Type SF AvailOccupancySuite Listing CompanyBldg Contig

CBREWithheld215,80450,000 - 215,804NewIndustrialE 1st - Vacant

All Spaces 215,804 215,804 -

-



702.250.6504



2 4305 N Lamb Blvd - Lamb Industrial ParkLas Vegas, NV 89115 - North Las Vegas Ind Submarket

AVAILABILITY



Asking Rent: -

PROPERTY

Type: Industrial Warehouse

Yr Blt/Renov: 2018


Ceiling Height: 28'

Docks: 7 ext

Power: 277-480v 3p


-CONSTRUCTION

Start Date: Dec-2017

Completion Date: Jun-2018


Time Since Delivery: 3 MonthsDEVELOPER

Viawest Group

-

AVAILABLE SPACES

Rent

Space Type

Floor Use

Square Feet


CBREWithheld10,29210,292NewIndustrialP 1st 200 Vacant






All Spaces 81,459 51,656 -

-



702.250.6504



3 4325 Corporate Center Dr - Matter @ CraigNorth Las Vegas, NV 89030 - North Las Vegas Ind Submarket

AVAILABILITY


Available SF: -

Asking Rent: $0.53

PROPERTY


Yr Blt/Renov: 2018


Ceiling Height: 30'

Docks: 32 ext

Power: 3,000a/277-480v 3p…



OWNER

Christie Lites Chicago

CONSTRUCTION

Start Date: Sep-2017

Completion Date: May-2018



DEVELOPER


-

AVAILABLE SPACES


-



702.250.6504



4 4265 Corporate Center Dr - Prologis Corporate Center-Bldg 14North Las Vegas, NV 89030 - North Las Vegas Ind Submarket

AVAILABILITY


Available SF: -

Asking Rent: -

PROPERTY


Yr Blt/Renov: 2018


Ceiling Height: 32'

Docks: 23 ext

Power: 2,500a Heavy


OWNER

Prologis

CONSTRUCTION


Completion Date: Apr-2018



Prologis

-

AVAILABLE SPACES


-



702.250.6504



5 3910 Alto Ave - DHL Supply ChainLas Vegas, NV 89115 - North Las Vegas Ind Submarket

AVAILABILITY


Available SF: -

Asking Rent: $0.38

PROPERTY


Tenancy: Single-Tenant

Yr Blt/Renov: 2018


Ceiling Height: 32'

Docks: 76 ext

Power: 3,000a/277-480v 3p…



OWNER

Clarion Partners

CONSTRUCTION

Start Date: Mar-2017




DEVELOPER


AMENITIES

Skylights

AVAILABLE SPACES


-



702.250.6504



6 5430 Donovan Way - 5430 Donovan Way - Bldg. 9North Las Vegas, NV 89081 - North Las Vegas Ind Submarket

AVAILABILITY

Percent Leased: 0%


Asking Rent: -

PROPERTY


Yr Blt/Renov: 2018


Ceiling Height: 36'

Docks: 124 ext

Power: 277-480v 3p Heavy



OWNER

Global Logistic Properties

CONSTRUCTION


Completion Date: Feb-2018



DEVELOPER


-

AVAILABLE SPACES

Rent

Space Type

Floor Use

Square Feet


CBREWithheld731,561250,968 - 731,561NewIndustrialE 1st Bldg. 9 Vacant

All Spaces 731,561 731,561 -

-



702.250.6504



7 4050 Corporate Center Dr - Prologis Corporate Center-Bldg 9North Las Vegas, NV 89030 - North Las Vegas Ind Submarket

AVAILABILITY



Asking Rent: -

PROPERTY


Yr Blt/Renov: 2018


Ceiling Height: 32'

Docks: 30 ext

Power: 2,500a Heavy


OWNER

Prologis

CONSTRUCTION


Completion Date: Feb-2018



TWC Construction

-

AVAILABLE SPACES

Rent

Space Type

Floor Use

Square Feet


CBREWithheld77,03042,935NewIndustrialP 1st A-1 Vacant

CBREWithheld77,03034,095NewIndustrialP 1st A Vacant

All Spaces 77,030 77,030 -

NOTES

Prologis Corporate Center is a 4 building industrial project totaling ±523,370 SF. The 2nd phase of the project, which is expected to be completed inQ1 2018, will include a 130,515 SF front loading building and a 131,750 SF front loading building. The LEED Certified buildings will be divisible to30,930 SF and will include dock & ramp to grade loading, 32 min clear height, R-19 roof batt insulation, 6" slab & ESFR sprinkler system.

The project is located less than 1/2 mile to I-15 via Craig Rd. and with over 2,200 LINEAR FEET OF I-15 FRONTAGE, the project providesunsurpassed VISIBILITY, EXPOSURE and ACCESS for future tenants.



702.250.6504



8 2855 E Lone Mountain Rd - Phase IINorth Las Vegas, NV 89081 - North Las Vegas Ind Submarket

AVAILABILITY


Available SF: -

Asking Rent: $0.45

PROPERTY


Tenancy: Multi-Tenant

Yr Blt/Renov: 2017


Ceiling Height: 32'

Docks: 64 ext

Power: 2,500a/277-480v 3p…



-CONSTRUCTION


Completion Date: Dec-2017



DEVELOPER


AMENITIES

Skylights

AVAILABLE SPACES


-



702.250.6504



9 5840 Donovan Way - Northgate Distribution Center Bldg 5Las Vegas, NV 89115 - North Las Vegas Ind Submarket

AVAILABILITY

Percent Leased: 0%


Asking Rent: -

PROPERTY



Yr Blt/Renov: 2017


Ceiling Height: 32'

Docks: 39 ext

Power: 277-480v 3p

Rail Served: None



OWNER

Global Logistic Properties Ltd

CONSTRUCTION

Start Date: Apr-2016




DEVELOPER


-

AVAILABLE SPACES

Rent

Space Type

Floor Use

Square Feet


CBREWithheld191,02695,000 - 191,026NewIndustrialE 1st - Vacant

All Spaces 191,026 191,026 -

NOTES

Northgate Distribution Center Buildings has entire buildings available from ±87,007 or ±731,561 SF with divisibility to ±53,352 SF. The buildings areeither cross dock or rear loading configured. Office space is BTS. The warehouse features 32' - 36' minimum clear height, ESFR sprinkler system,and 2% skylights. Abundant trailer parking is available along with monument signage. Build to suit options are available for future phases.

Northgate Distribution Center has immediate access to I-15 via Lamb Blvd. Interchange with building signage with I-15 frontage. The project is locatedin the City of North Las Vegas jurisdiction.



702.250.6504



10 Corporate Center Dr & Civic Center Dr - Prologis Corporate Center-Bldg 13North Las Vegas, NV 89030 - North Las Vegas Ind Submarket

AVAILABILITY


Available SF: -

Asking Rent: -

PROPERTY


Yr Blt/Renov: 2017


Ceiling Height: 32'

Docks: 21 ext

Power: 1,600-4,000a Heavy


-CONSTRUCTION

Start Date: Oct-2016




-

AMENITIES

Skylights

AVAILABLE SPACES


-



702.250.6504



11 2855 E Lone Mountain RdNorth Las Vegas, NV 89081 - North Las Vegas Ind Submarket

AVAILABILITY


Available SF: -

Asking Rent: -

PROPERTY


Yr Blt/Renov: 2017



-CONSTRUCTION





-

-

AVAILABLE SPACES


-



702.250.6504



12 3515 N Las Vegas Blvd - LogistiCenter at Las Vegas BoulevardLas Vegas, NV 89115 - North Las Vegas Ind Submarket

AVAILABILITY


Available SF: -

Asking Rent: $0.41

PROPERTY



Yr Blt/Renov: 2017


Ceiling Height: 36'

Docks: 103 ext

Power: 4,000a/277-480v 3p…



OWNER

Dermody Properties, Inc.

CONSTRUCTION

Start Date: Apr-2017

Completion Date: Sep-2017



DEVELOPER


AMENITIES

T5 Lighting

AVAILABLE SPACES


-



702.250.6504



13 4550 Nexus Way - AmazonNorth Las Vegas, NV 89081 - North Las Vegas Ind Submarket

AVAILABILITY


Available SF: -

Asking Rent: -

PROPERTY



Yr Blt/Renov: 2017



OWNER


CONSTRUCTION

Start Date: Nov-2016

Completion Date: Sep-2017



DEVELOPER


-

AVAILABLE SPACES


-



702.250.6504



14 5550 Donovan Way - The Honest CoLas Vegas, NV 89101 - North Las Vegas Ind Submarket

AVAILABILITY


Available SF: -

Asking Rent: -

PROPERTY



Yr Blt/Renov: 2017


Ceiling Height: 36'

Docks: 98 ext

Power: 4,000a/277-480v 3p…



OWNER


CONSTRUCTION





DEVELOPER


-

AVAILABLE SPACES


-



702.250.6504



15 4490 Nexus Way - Northgate Distribution Center Bldg 2Las Vegas, NV 89115 - North Las Vegas Ind Submarket

AVAILABILITY


Available SF: -

Asking Rent: -

PROPERTY



Yr Blt/Renov: 2017


Ceiling Height: 36'

Docks: 9 ext

Power: 4,000a/277-480v 3p…

Rail Served: None



OWNER


CONSTRUCTION


Completion Date: Jul-2017



DEVELOPER


-

AVAILABLE SPACES


-



702.250.6504



PREPARED BY

Casey Whiting


Sale Comps


Sale Comps3950-3970 Las Vegas Blvd

Sale Comparables

17Avg. Cap Rate

7.5%Avg. Price/SF

$114Avg. Vacancy At Sale

7.2%SALE COMPARABLE LOCATIONS

SALE COMPARABLES SUMMARY STATISTICS

Sales Attributes Low Average Median High

Sale Price $1,668,400 $3,376,967 $2,900,000 $7,000,000

Price Per SF $61 $114 $117 $203

Cap Rate 6.5% 7.5% 7.5% 8.4%

Time Since Sale in Months 0.6 11.5 12.8 22.7

Property Attributes Low Average Median High

Building SF 17,240 29,735 22,750 58,162


Docks 0 4 3 12

Vacancy Rate At Sale 0% 7.2% 0% 100%

Year Built 1972 1996 1996 2009

Star Rating 2.2



702.250.6504


Property Name - Address Rating Yr Built Bldg SF Vacancy Price Price/SF

Property

Sale Date

Sale

Cap Rate

-1 5421-5441 E Cheyenne Ave1984 31,800 0% $1,924,230 $618/23/2018 -

-2 3890 E Craig Rd1972 19,602 0% $2,450,000 $1257/13/2018 -

-3 3870 Losee Rd1989 50,200 0% $5,000,000 $1007/3/2018 -

-4 4620 Eaker St1996 58,162 0% $7,000,000 $1205/23/2018 -

-5 Building 42006 19,885 0% $2,700,000 $136

2955 Lincoln Rd2/16/2018 -

-5 Building 42006 19,885 0% $2,100,000 $106

2955 Lincoln Rd1/31/2018 -

-6 3828 Civic Center Dr2009 39,348 0% $4,775,000 $1211/3/2018 -

-7 Bldg D2008 22,750 0% $2,661,750 $117

4620 Calimesa St9/22/2017 -

-8 Bldg B22008 19,125 0% $2,237,625 $117

4480 Calimesa St8/18/2017 -

-9 Bldg-62006 28,427 0% $3,500,000 $123

3835 N Pecos Rd8/4/2017 6.5%

-10 Palm Street Building1987 36,538 100% $3,300,000 $90

1955 Palm St6/2/2017 -

-11 Bldg-32006 17,240 0% $1,950,000 $113

3935 N Pecos Rd5/9/2017 -

-12 Coastline Equipment1992 20,225 0% $2,900,000 $143

3540 N 5th St4/26/2017 -

-13 Flowers Foods1982 18,722 0% $1,668,400 $89

3348 Losee Rd3/31/2017 8.4%

-14 500 E Cheyenne Ave1980 22,124 0% $4,500,000 $2032/10/2017 -

-15 4120 Donovan Way1995 32,388 0% $4,741,429 $1461/31/2017 -

-16 Bldg-22007 49,070 0% $4,000,000 $82

2855 Coleman St10/20/2016 -



702.250.6504

http://gateway.costar.com/Gateway/Redir/RedirectToProduct.aspx?productId=PPW&redirUrl=%2Fredir%2Fdefault.aspx%3Feid%3D988338%26ProductMode%3DProperty%26SelectedTab%3Dsale%26external%3D1


















SALES VOLUME & MARKET SALE PRICE PER SF



702.250.6504


LAS VEGAS INVESTMENT TRENDS

Investment volume had been muted since the recession,but activity has picked back up recently, with transactionsin 2018 off to a solid start. Sales volume totaled just over$700 million in 2017, up from around $510 million in2016 and significantly higher than the metro’s historicalaverage of about $440 million.

In March 2018, the Phase I and II buildings in the LoneMountain Corporate Center were purchased by ClarionPartners for a combined $67 million ($96/SF). Thebuildings were sold by Pauls Real Estate Investments aspart of a 26-property portfolio. Two industrial buildings inthe Northgate Distribution Center were purchased byGlobal Logistic Properties Ltd. for a combined $55.4million ($74/SF) from developer VanTrust Real Estate inApril. Both properties were constructed in 2017, and atthe time of closing, the 558,000-SF building wasapproximately 85% leased, and the 191,000-SF buildingwas vacant. More recently, in May, a distribution buildingfully occupied by logistics firm DHL Supply Chain tradedfor $35.76 million, around $105/SF. The single-tenant,338,500-SF building was completed in the first quarterof 2018 and sold by developer Scannell Properties.

Singapore-based Global Logistic Properties Ltd. (GLP)has made several acquisitions in the Las Vegas marketrecently. In December 2017, GLP purchased the two-property Northgate Distribution Center portfolio for$124.8 million ($90/SF), which provided a significantboost to year-end sales volume in 2017. GLP acquiredthe approximately 1.4-million-SF portfolio fromdeveloper VanTrust Real Estate. Included in the tradewere the 813,000-SF Amazon distribution building andthe 570,000-SF Honest Co. warehouse building. In June2018, GLP purchased three more properties fromVanTrust Real Estate in the Northgate DistributionCenter. A two building portfolio was acquired for $55.4million ($74/SF), and included 4490 Nexus Way, is a558,000-SF warehouse building that was approximately85% occupied at the time of sale, and 5840 DonovanWay is a 95,000-SF warehouse building that wascompletely available at the time of sale. Both propertieswere completed in 2017. Later in the month, anotherwarehouse property of 731,500 SF was purchased for$51.9 million ($71/ SF). The building was recentlydelivered in February and was 100% available.

SALES VOLUME & MARKET SALE PRICE PER SF



702.250.6504

Sale Comps Details3950-3970 Las Vegas Blvd

1 5421-5441 E Cheyenne AveDistance to Subject Property: 1.3 Miles

SALE

Sale Date: 8/23/2018

Sale Price: $1,924,230

Price/SF: $61

PROPERTY

Type: Manufacturing

Year Built/Re… 1984

RBA: 31,800 SF

Ceiling Height: 14'

Docks: 3 ext

Power: 880a 3p Heavy

Vacancy At S… 0%

Cranes: None

Rail Served: None

Parking: 46 free Surface Spaces…

-

CONTACTS

Seller: 5421 East Llc

2 3890 E Craig RdDistance to Subject Property: 1.4 Miles

SALE

Sale Type: Owner/User


Time On Mar… 70 Days


Price/SF: $125

PROPERTY

Type: Warehouse


RBA: 19,602 SF

Ceiling Height: 20'

Docks: 7 ext

Power: 800a/277-480v 3p 4w He…

Vacancy At S… 0%

Cranes: None

Rail Served: Yes


SALE TERMS

Financing: 1st Mortgage: Nevad…

CONTACTS

Buyer: A2 Realty Group Llc

Seller: John Wallace

Buyer Broker: RealComm Advisors -…

Listing Broker: RealComm Advisors -…



702.250.6504




3 3870 Losee RdDistance to Subject Property: 2.7 Miles

SALE


Sale Date: 7/3/2018


Price/SF: $100

PROPERTY

Type: Distribution


RBA: 50,200 SF

Docks: None

Vacancy At S… 0%

Cranes: None

Rail Served: None


SALE TERMS


CONTACTS

Buyer: SA Recycling LLC

Seller: Friedman Properties Ltd

4 4620 Eaker StDistance to Subject Property: 1.2 Miles

SALE



Time On Mar… 1 Yr 4 Mos


Price/SF: $120

PROPERTY

Type: Manufacturing

Year Built/Re… 1996; Renov 2016

RBA: 58,162 SF


Docks: None

Power: 1,200a 3p Heavy

Vacancy At S… 0%

Cranes: None

Rail Served: None


SALE TERMS


CONTACTS

Seller: Remington Nevada

Buyer Broker: Diversified Realty Grou…

Listing Broker: CBRE - Donna Alderso…



702.250.6504




5 2955 Lincoln Rd - Building 4Distance to Subject Property: 1.6 Miles

PROPERTY

Type: Warehouse


RBA: 19,885 SF


Docks: 3 ext

Power: 400a/277-480v 3p 3w

Vacancy At S… 0%


SALE




Price/SF: $136

CONTACTS

Buyer: Wang Global Net

Seller: WCIG LLC

Buyer Broker: NAI Vegas - Phillip Keuch

Listing Broker: NAI Vegas - Phillip Keuch

SALE TERMS


5 2955 Lincoln Rd - Building 4Distance to Subject Property: 1.6 Miles

SALE





Price/SF: $106

PROPERTY

Type: Warehouse


RBA: 19,885 SF


Docks: 3 ext

Power: 400a/277-480v 3p 3w

Vacancy At S… 0%

Parking: 10 free Surface Spaces…SALE TERMS


CONTACTS

Buyer: Jean Philippe Merminod

Seller: James I Kozen Family T…

Listing Broker: NAI Vegas - Eric Larkin,…



702.250.6504




6 3828 Civic Center DrDistance to Subject Property: 2.3 Miles

SALE


Sale Date: 1/3/2018



Price/SF: $121

PROPERTY

Type: Warehouse


RBA: 39,348 SF

Ceiling Height: 24'

Docks: 12 ext


Vacancy At S… 0%

Rail Served: None

Parking: 59 Surface Spaces are…

SALE TERMS

Financing: Unknown: Umpqua…

CONTACTS

Buyer: Steve W Lim

Seller: Robert & Amy Robinson

Buyer Broker: Elite Realty - Bob Darling

Listing Broker: MDL Group - Galit Kime…

7 4620 Calimesa St - Bldg DDistance to Subject Property: 0.9 Miles

SALE





Price/SF: $117

PROPERTY

Type: Distribution


RBA: 22,750 SF


Docks: 3 ext

Power: 277a/480v 3p

Vacancy At S… 0%

Rail Served: None


SALE TERMS

Sale Conditio… Purchase By Tenant

Financing: 1st Mortgage Bal/P…

CONTACTS

Buyer: Aerosprays, Inc

Seller: JP DiNapoli Companies…

Buyer Broker: Colliers International -…

Listing Broker: Colliers International -…



702.250.6504




8 4480 Calimesa St - Bldg B2Distance to Subject Property: 0.7 Miles

PROPERTY

Type: Warehouse


RBA: 19,125 SF

Ceiling Height: 24'

Docks: 2 ext

Power: 600a

Vacancy At S… 0%


SALE





Price/SF: $117

CONTACTS

Buyer: Shaul Dadon

Seller: DiNapoli Family, LP

Buyer Broker: CBRE - Sean Zaher

Listing Broker: Colliers International -…

SALE TERMS

Financing: Unknown: Western…

TRANSACTION NOTES

The property was purchased as an owner/user and relocation. The buyer will be doing business as a moving company. No sale condition was m…

9 3835 N Pecos Rd - Bldg-6Distance to Subject Property: 1.8 Miles

PROPERTY

Type: Warehouse


RBA: 28,427 SF

Ceiling Height: 24'

Docks: 2 ext

Power: 600-800a/277-480v 3p 4…

Vacancy At S… 0%

Rail Served: None

Parking: Covered Spaces @ $0.0…

SALE

Sale Type: Investment

Sale Date: 8/4/2017



Price/SF: $123

Cap Rate: 6.5%

CONTACTS

Buyer: Mohsen Kazemi

Seller: Tony Canino

Listing Broker: Chocxo Chocolatier - T…

SALE TERMS

Financing: Unknown: Bank of A…

TRANSACTION NOTES

On August 4, 2017, the industrial property located at 3835 N Pecos Rd, Las Vegas, NV was sold. Bank of America financed a loan of $1,750,00…



702.250.6504




10 1955 Palm St - Palm Street BuildingDistance to Subject Property: 6.0 Miles

PROPERTY

Type: Warehouse


RBA: 36,538 SF

Ceiling Height: 15'

Docks: 3 ext

Power: 3p

Vacancy At S… 100%

Cranes: None

Rail Served: None


SALE


Sale Date: 6/2/2017



Price/SF: $90

CONTACTS

Buyer: Daniel R. Williams

Seller: Bentar Development, Inc.

Listing Broker: CBRE - Jake Higgins, K…

SALE TERMS


TRANSACTION NOTES

The property was purchased as an owner/user. Per the listing broker, the property was vacant at the time of sale. CBRE represented the seller o…

11 3935 N Pecos Rd - Bldg-3Distance to Subject Property: 1.7 Miles

PROPERTY

Type: Warehouse


RBA: 17,240 SF

Ceiling Height: 24'

Docks: 2 ext

Power: 400a/277-480v 3p 4w

Vacancy At S… 0%

Rail Served: None


SALE


Sale Date: 5/9/2017



Price/SF: $113

CONTACTS

Buyer: Panda Windows & Doors

Seller: The Exone Company

Buyer Broker: Berkshire Hathaway Ho…

Listing Broker: CBRE - Donna Alderso…

SALE TERMS


TRANSACTION NOTES

Comp information was confirmed by the buyers broker and the sellers broker.Panda Windows & Doors will expand to this location about July 1st.…



702.250.6504




12 3540 N 5th St - Coastline EquipmentDistance to Subject Property: 3.7 Miles

PROPERTY

Type: Service


RBA: 20,225 SF


Docks: None

Vacancy At S… 0%

Rail Served: None

Parking: 26 Covered Spaces are…

SALE




Price/SF: $143

CONTACTS

Buyer: Bragg Investment Com…

Seller: Blaine Equipment Com…

SALE TERMS

Sale Conditio… Excess Land

TRANSACTION NOTES

Sale consists of a single tenant 20,225 SF industrial building that sold for $2.9M. The buyer also bought the business Blaine Equipment as well a…

13 3348 Losee Rd - Flowers FoodsDistance to Subject Property: 3.2 Miles

PROPERTY

Type: Distribution


RBA: 18,722 SF


Docks: 4 ext

Vacancy At S… 0%

Cranes: None

Rail Served: None


SALE

Sale Type: Investment




Price/SF: $89

Cap Rate: 8.4%

CONTACTS

Buyer: Mark Anderson & Jie Y…

Seller: Anthony J Venti Jr & M…

Listing Broker: NAI Vegas - Mark Musser

SALE TERMS

Sale Conditio… Investment Triple Net

Financing: 1st Mortgage: One N…

TRANSACTION NOTES

Sale consists of single tenant 18,722 SF industrial building that sold for $1,668,400. The property is leased to Flowers Baking Company of Hend…



702.250.6504




14 500 E Cheyenne AveDistance to Subject Property: 3.7 Miles

PROPERTY

Type: Warehouse


RBA: 22,124 SF


Docks: None

Power: 3p

Vacancy At S… 0%

Cranes: None

Rail Served: None


SALE




Price/SF: $203

CONTACTS

Buyer: Steven Craig Cooper

Seller: Steven Trenk

SALE TERMS

Sale Conditio… 1031 Exchange

Financing: 1st Mortgage: Seller…

TRANSACTION NOTES

Sale consists of three industrial buildings totaling 22,124 SF that sold for $4.5M. The property will occupied by the buyer, sits on 3.24 acres, built…

15 4120 Donovan WayDistance to Subject Property: 2.4 Miles

PROPERTY

Type: Distribution


RBA: 32,388 SF

Docks: 12 ext

Vacancy At S… 0%

Cranes: None

Rail Served: None

Parking: 180 free Surface Space…

SALE



Price/SF: $146

CONTACTS

Buyer: Rush Enterprises, Inc.,…

Seller: 4150 Donovan Way LLC…

SALE TERMS

Sale Conditio… 1031 Exchange

Financing: 1st Mortgage: Seller…

TRANSACTION NOTES

CoStar was unable to verify further information regarding the transaction with either parties involved. The information has been provided by publi…



702.250.6504




16 2855 Coleman St - Bldg-2Distance to Subject Property: 6.2 Miles

PROPERTY

Type: Warehouse


RBA: 49,070 SF

Ceiling Height: 28'

Docks: 10 ext


Vacancy At S… 0%

Rail Served: None


SALE


Sale Date: 10/20/2016


Price/SF: $82

CONTACTS

Buyer: SGPS Holdings LLC

Seller: Credit Union 1

SALE TERMS

Sale Conditio… Expansion

Financing: 1st Mortgage: JPMo…

TRANSACTION NOTES

This property sold to an owner/user reportedly for $4,000,000. The buyer also owns and occupies the building next door. This purchase represe…



702.250.6504


Sales Volume3950-3970 Las Vegas Blvd

NORTH LAS VEGAS IND SUBMARKET SALES VOLUME IN SQUARE FEET

NORTH LAS VEGAS SUBMARKET CLUSTER SALES VOLUME IN SQUARE FEET

LAS VEGAS METRO SALES VOLUME IN SQUARE FEET



702.250.6504

Sales Pricing3950-3970 Las Vegas Blvd

NATIONAL PRICE INDICES

REGIONAL INDUSTRIAL PRICE INDICES



702.250.6504

Sales Pricing3950-3970 Las Vegas Blvd

PRICE PER SF INDEX

UNITED STATES INDUSTRIAL PRICE PER SF IN PAST YEAR LAS VEGAS INDUSTRIAL PRICE PER SF IN PAST YEAR

PRICE PER SF SUMMARY OF SALES IN PAST YEAR

Geography HighTop 25%AverageMedianBottom 25%LowTransactions

$755,556United States 18,173 $0.02 $21 $68 $3,640 $8,405

$731Las Vegas 193 $11 $68 $120 $96 $182

$242North Las Vegas 61 $11 $61 $96 $87 $148

$203Selected Sale Comps 17 $61 $84 $117 $114 $151



702.250.6504

Cap Rates3950-3970 Las Vegas Blvd

CAP RATE TRENDS

UNITED STATES LOGISTICS CAP RATES IN PAST YEAR LAS VEGAS LOGISTICS CAP RATES IN PAST YEAR

CAP RATE SUMMARY OF SALES IN PAST YEAR

Geography HighTop 25%AverageMedianBottom 25%LowTransactions

22.0%United States 2,007 1.6% 4.9% 7.0% 7.3% 10.1%

9.9%Las Vegas 34 5.0% 5.8% 6.5% 6.7% 8.0%

8.3%North Las Vegas 2 6.5% N/A 7.4% 7.4% N/A

8.4%Selected Sale Comps 2 6.5% N/A 7.5% 7.5% N/A



702.250.6504

3950-3970 las vegas blvd · 2018. 11. 28. · lease comps lease comps summary 42 lease comps...

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