SPRING GATE PLAZA

Single Tenant NNN Leased Office Investment Investment Grade Credit Tenant

1650 SPRING GATE LANE | LAS VEGAS, NV 89134

Rated “A+” by S&P

the offeringWe are pleased to offer to qualified investors an opportunity to purchase (fee simple) a

single tenant NNN leased office investment that is occupied by OptumRx - Parent Company

UnitedHealth Care Group (NYSE: UNH - Rated “A+” by S&P) - located in the Las Vegas

master-planned community of Summerlin, NV. This lease offers secure income backed

by the highest credit rating available along with 2.50% annual rental increases, providing

rapid increase in NOI as well as protection against inflation.

Located in Summerlin, NV, Spring Gate Plaza, benefits from being positioned in one of

the premier master-planned communities in the U.S. as it was the 4th highest selling

U.S. community in 2017 and is consistently ranked in the top 10 of U.S. master-planned

communities nationwide. This is a rare opportunity to acquire the highest available rating

for an investment grade credit tenant (“A+” by S&P), located in one of the strongest

communities in America, and offers investors hedge against inflation with 2.50% annual

rental increases throughout the remaining term and options.

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Open Bid

PRICE

Request for Guidance

CAP RATE

$1,377,075

NOI

SUMMERLIN PKWY. 29,500 CPD

SPRING GATE LANE

LEASE ABSTRACT

Tenant Trade Name OptumRx / United Healthcare

Lease Start April 1, 2008

Lease Expiration March 31, 2024

Lease Term 16

Term Remaining On Lease 6

Annualized Base Rent $1,396,367

CAM Reimbursements $250,062

Total Rent $1,646,429

Operating Expenses $269,354

NOI $1,377,075

Rental Adjustments 2.5% Annual Rental Increases

Option Periods

2 - 5 Year Options 2.5% Annual Increases Each Option 4/1/2024: FMV 4/1/2029: FMV

Lease Type NN Lease

Roof & Structure Landlord

(12 Year Extension Signed 4/1/2012)NOI is from August 2018 to July 2019*Current Monthly Rent $115,402

PARCEL DETAILS

APN 138-19-420-007

Building Area 41,053 SF

Land Area 3.02 Acres

Year Built 2007

Occupancy 100%

Zoning P-C

Occupancy 100%

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SUMMERLIN PKWY.

29,500 CPD

N. TOWN CENTER DR.

21,261 CPD

SPRING GATE LANETRAI

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COUNTRY CLUBHILLS COMMUNITY

MONTERREYCOMMUNITY

ALLURETOWNHOMES

THE PEUBLOECOMMUNITYMOUNTAIN TRAILS

COMMUNITY

TRAILS VILLAGE CENTER

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INVESTMENT HIGHLIGHTS

• Single Tenant NNN Leased Office Investment - Investment Grade Credit Tenant

• OptumRx - Parent Company UnitedHealth Care Group (NYSE: UNH)

• Highest Investment Grade Credit Rating “A+” by S&P

• Attractive 2.50% Annual Rental Increases Including Options (2-5 Year Options)

• Approximately 6 Years Remaining on a 12 Year Lease Extension

• Tenant Reimburses for Operating Expenses Including 3rd Party Mgmt Fees

• Minimal Landlord Maintenance Responsibilities

• Located in Summerlin, NV - America’s 4th Highest Selling Master-Planned Community in 2017

• Consistently Ranked in the Top 10 of Master-Planned Communities Nationwide

• Excellent Demographics - 347,995 Residents within 5-Mile Radius

• Affluent Neighborhood - AHHI of $114,482 within 1-Mile Radius

• Diversified Surrounding Use Mix of Office, Retail, Residential, Entertainment

tenant overview | “A+” by S&PUnitedHealth Group (NYSE: UNH)

UnitedHealth Group Inc. is an American for-profit managed health care company based in Minnetonka, Minnesota. It is 5th in the

United States on the Fortune 500. UnitedHealth Group offers health care products and insurance services. UnitedHealth Group is the

largest healthcare company in the world by revenue $184 billion in 2016. UnitedHealth Group subsidiaries companies together serves

approximately 115 million individuals in 2016.

OptumRx, Inc.

OptumRx, Inc., a pharmacy benefit management company, manages prescription drug benefits of commercial, Medicare, and other

governmental health plans, as well as those of employers and unions in the United States. It operates a network of community

pharmacies in the United States, as well as mail service pharmacies in California and Kansas. The company also specializes in

the delivery, clinical management, and affordability of prescription medications and consumer health products; and offers specialty

pharmacy and mail service, clinical programs, and tools and strategies. In addition, it offers medical supplies to Medicare advantage;

and sells medical products online. OptumRx, Inc. was formerly known as Prescription Solutions, Inc. and changed its name to

OptumRx, Inc. in August 2012. The company was founded in 1989 and is based in Irvine, California. OptumRx, Inc. operates as a

subsidiary of OptumRx Holdings, LLC.

130 ~$3.3BThrough UnitedHealthcare and Optum, UnitedHealth Group offers health benefits and services to people residing in all 50 states in the United States and more than 130 other countries.

UnitedHealth Group invests more than $3.3 billion in technology and innovation, and processes approximately 1 trillion transactions annually.

285KMore than 285,000 people worldwide power UnitedHealth Group with their entrepreneurial spirit and commitment to quality, including more than 86,000 clinical professionals focused on helping people live healthier lives.

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UnitedHealth Group serves clients and consumers through two distinct platforms:

UnitedHealthcare provides health care

coverage and benefits services.

HEALTH BENEFITSOptum provides information and

technology-enabled health services.

HEALTH SERVICES

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The Metro Attracted a Record 39 MILLION VISITORS in 2017 With over 39 million visitors last year, a significant number of Las Vegas residents (even those

with white-collar jobs) are employed by the casinos and hotels along Las Vegas Boulevard.

In fact, just under one-third of employment is tied to leisure and hospitality. Employment in

the metro is growing, and the healthcare and construction sectors are gaining ground.

The Northwest Las Vegas Submarket, which includes communities such as Summerlin and

Sun City, is one of the largest office submarkets in the metro. About 65% of its office

inventory is rated 3 Star, and even most of this cycle’s deliveries fall into this bucket. Two

major hospitals provide the bulk of employment here, hence the large concentration of

medical offices. In fact, about one-third of the supply delivered in this cycle is of office/

medical designation.

Las Vegas net absorption has been positive for the past several years, outpacing deliveries,

and compressing vacancies. The city is hoping that its various incentive plans will help draw

a more diverse mix of companies to Las Vegas.

MSA OVERVIEW

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VISITOR CONVENTION GAMING

2017 YTD 2017 YTD 2017 YTD

VOLUME ATTENDANCE REVENUE

39 MILLION 6 MILLION $9.9 BILLION

*LAS VEGAS CONVENTION AND VISITORS AUTHORITY

MARKET OVERVIEWLas Vegas is the 28th-most populated city in the United States, the

most populated city in the state of Nevada, and the county seat of

Clark County. The city anchors the Las Vegas Valley metropolitan

area and is the largest city within the greater Mojave Desert. Las

Vegas is an internationally renowned major resort city, known

primarily for its gambling, shopping, fine dining, entertainment, and

nightlife. The Las Vegas Valley as a whole serves as the leading

financial, commercial, and cultural center for Nevada.

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Interstates 15, 515, and US 95 lead out of the city in four directions. Two major

freeways – Interstate 15 and Interstate 515/U.S. Route 95 – cross in downtown

Las Vegas. I-15 connects Las Vegas to Los Angeles, and heads northeast to and

beyond Salt Lake City.

TRANSPORTATION

The Summerlin Hospital Medical Center, a private hospital operated by the Valley

Health System, provides 485 beds to the local community. It is an accredited

Chest Pain Center and Primary Stroke Center. Other notable features include:

the Children’s Medical Center, the Breast Care Center, the Cancer Center, the

Rehab Center, and the Robotic Surgery Center. The Summerlin Hospital is also

recognized by the Healthcare Equality Index as a “Leader in LGBT Healthcare

Equality.” Its 40 acre campus is located in The Crossings village of Summerlin.

HEALTHCARE

Summerlin is home to more than two dozen schools, including nationally

recognized private schools, excellent public schools and magnet and charter

schools. Several colleges and specialized higher education facilities are also

located in the community, ensuring learning opportunities for residents of all

ages. The community’s many educational amenities have a well-established track

record of academic accomplishments, athletic victories and cultural accolades.

EDUCATION

116,391 CPD

AVG. DAILY AUTO TRAFFICALL MAJOR HIGHWAYS

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Summerlin is NO. 4 BEST-SELLING master-planned community in U.S. Summerlin is an affluent master-planned community in the Las Vegas Valley of Southern

Nevada. It lies at the edge of the Spring Mountains and Red Rock Canyon to the west;

partly within the official city limits of Las Vegas and partly within unincorporated Clark

County. This rapidly growing community occupies over 22,500 acres and according to its

developers, has grown to encompass more than 230 parks, more than two dozen public

and private schools, 14 houses of worship, nine golf courses, three resort hotels, world-

class recreational facilities, retail and entertainment centers, well-established office parks,

a state-of-the-art medical center, and more

• In 2017, 1,052 new homes were sold in Summerlin, a 37 percent increase over 2016,

when it was ranked No. 5.

• The 22,500-acre Las Vegas community, which started taking shape in 1990, has appeared

on RCLCO’s annual list 22 times since the firm began tracking sales 24 years ago.

• The community was ranked No. 1 as the nation’s top-selling master-planned community

eight times between 1994 and 2002.

summerlin master-planned community

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Quick Facts:• 22,500 acres total• 12 minutes from downtown Las Vegas, 20 minutes from the Las Vegas Strip• More than 100,000 residents• More than 200,000 residents projected • More than 40,000 households in 19 villages• More than 80,000 households in 31 villages projected at completion• More than 22,000 employees• Ranked as one of the country's top 10 bestselling master-planned communities for nearly two decades, according to independent surveys by Arthur Andersen Real Estate Services Group and Robert Charles Lesser & Co.

Notable businesses with

locations in Summerlin:

• Bank of America Call Center• Capital One• Le Cordon Bleu Culinary Institute• Williams-Sonoma Call Center• AT&T Call Center• R&R Advertising, LLC• Wyndham Vacation Ownership• Life Time Athletic• Red Rock Casino Resort & Spa• Element Hotel by Westin

Quick Facts:• 22,500 acres total• 12 minutes from downtown Las Vegas, 20 minutes from the Las Vegas Strip• More than 100,000 residents• More than 200,000 residents projected • More than 40,000 households in 19 villages• More than 80,000 households in 31 villages projected at completion• More than 22,000 employees• Ranked as one of the country's top 10 bestselling master-planned communities for nearly two decades, according to independent surveys by Arthur Andersen Real Estate Services Group and Robert Charles Lesser & Co.

Notable businesses with

locations in Summerlin:

• Bank of America Call Center• Capital One• Le Cordon Bleu Culinary Institute• Williams-Sonoma Call Center• AT&T Call Center• R&R Advertising, LLC• Wyndham Vacation Ownership• Life Time Athletic• Red Rock Casino Resort & Spa• Element Hotel by Westin

SUMMERLIN PKWY. 29,500 CPD

BRUCE WOODBURY BELTWAY 77,200CPD

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SPRING GATE LANE

215

CANYON POINTE

DOWNTOWN SUMMERLIN

PALO VERDEHIGH SCHOOL

RED ROCKVILLAS

FALLING WATERAPARTMENTS

SUMMERLINWEST

BREAMOOR HEIGHTS

TRAILS VILLAGE CENTER

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POPULATION DENSITY

Distance 1-MILE 3-MILE 5-MILE

2018 14,509 143,616 347,995

2023 15,853 156,415 378,697

BUSINESS FACTS

Distance 1-MILE 3-MILE 5-MILE

Businesses 795 4,380 11,802

Employees 8,637 46,064 111,065

143,616POPULATION

DENSITY3-MILE RADIUS

The CliffsSummerlin’s southernmost village draws its name and

inspiration from the Spring Mountains ridgeline that forms

the backdrop to the village. The sloping topography naturally

demands rugged contemporary architectural designs.

Downtown SummerlinA stylish, urban core with bustling city blocks of fashion,

dining and entertainment will include urban-style residences.

Constellation, a luxury leasing complex is the first residential

option in the downtown area.

The PaseosThis village offers a blend of Hacienda- and Mission-inspired

architecture with views of the Las Vegas Strip and Red Rock

Canyon National Conservation Area.

ReverenceSummerlin’s northernmost village is perched atop 300

elevated acres and borders Red Rock Canyon National

Conservation Area. Reverence offers guard-gated luxury in

both contemporary and traditional home designs.

The RidgesAn unparalleled and exclusive guard-gated village

distinguished by stunning topography that reaches an

elevation of 3,200 feet—presenting breathtaking views and

encompassing luxury custom and production homesites.

StonebridgeNestled against an impressive backdrop of Red Rock Canyon

along its western edge, Stonebridge offers incredible views

and seclusion. Its Prairie Highland-inspired architecture

reflects the natural desert surroundings.

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$89,917HOUSEHOLD

INCOME3-MILE RADIUS

HOUSEHOLDS

Distance 1-MILE 3-MILE 5-MILE

2018 5,805 59,632 135,771

2023 6,337 64,839 147,490

HOUSEHOLD INCOME

Distance 1-MILE 3-MILE 5-MILE

Average 2018 $114,482 $89,917 $83,570

Median 2018 $89,431 $68,217 $61,044

Ranked as one of the country’s TOP 10 BESTSELLING

master-planned communities for nearly two decades

Colliers International | 3960 Howard Hughes Parkway, Suite 150 | Las Vegas, NV 89169

Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. This publication is the copyrighted property of Colliers International and /or its licensor(s) 2015. All rights reserved

This Offering Memorandum contains select information pertaining to the business and affairs of Spring Gate Plaza - Las Vegas, NV. It has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Colliers International. The material is based in part upon information supplied by the Seller and in part upon financial information obtained from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum from Colliers, you agree:

1. The Offering Memorandum and its contents are confidential;

2. You will hold it and treat it in the strictest of confidence; and

3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.

Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of Spring Gate Plaza - Las Vegas, NV or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Colliers International or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum. For More Information Contact:

Eric Carlton

Executive Vice President

License No. S.0172067

949.724.5561

eric.carlton@colliers.com