WHITNEY MESA
WHITNEY MESA
BUSINESS PARK II 1850 – 1860 WHITNEY MESA DRIVE HENDERSON, NV 89104
MULTI-TENANT INDUSTRIAL INVESTMENT
41,445 SQUARE FEET 100% OCCUPIED
Industrial | Logistics
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
2
LEASE ABSTRACTS
Contents 03 EXECUTIVE SUMMARY 05 PROPERTY INFORMATION
INVESTMENT CONTACTS Kevin Higgins, SIOR Executive Vice President Lic. #BS.0016109 702.369.4944 [email protected]
Garrett Toft, SIOR First Vice President Lic. #BS.0061824 702.369.4868 [email protected]
DEBT & STRUCTURE FINANCE Bob Ybarra Vice President 702.369.4859 [email protected]
CBRE - Las Vegas 3993 Howard Hughes Parkway, Suite 700 Las Vegas, NV 89169 www.cbre.com/lasvegas
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
WHITNEY MESA BUSINESS PARK II
03
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
4
LEASE ABSTRACTS INVESTMENT HIGHLIGHTS
THE OFFERING CBRE is exclusively offering the opportunity to acquire a 100% leased multi-tenant industrial investment in Henderson, NV. Whitney Mesa Business Park II is located on Whitney Mesa Dr. and Mountain Vista St at the east end of the Airport Industrial submarket. Whitney Mesa Business Park II is a ±41,445 SF industrial condo project with 10 units ranging from 3,212 – 5,719 SF. Each unit features attractive, fully finished, 2-story office improvements and white box warehouses with grade level loading. The project is currently 100% occupied with ten (10) tenants. The property is situated near numerous retail and business amenities. Nearby residential developments and bus service along Mountain Vista and Russell Rd. Corporate neighbors include Apria Health Care, Roseman University, and Ethel M Chocolates. PROPERTY NAME:
Whitney Mesa Business Park II
ADDRESS:
1850 - 1860 Whitney Mesa Dr.
DESCRIPTION:
Industrial Condo Units
TOTAL SIZE:
±41,445 SF
OFFICE SF / %: NUMBER OF
22,172 SF / 53%
TENANTS / UNITS: OCCUPANCY
10/10 1860 Whitney Mesa Dr.: 100% 1850 Whitney Mesa Dr. Suites 120 & 130: 100%
LOADING:
Grade level
CLEARANCE:
21’
POWER:
120/208 V, 3-Phase
ZONING:
IP (Industrial Park) City of Henderson
YEAR BUILT:
2008
FINANCIALS* PRICE:
$4,350,000.00
IN PLACE NOI (JUL. 2017 ANNUALIZED):
$299,148.00
IN PLACE CAP RATE:
6.88%
10 YR. UNLEVERED IRR:
9.19%
10 YR. LEVERED IRR:
14.78%
*See Financial Analysis for Discounted Cash Flow Model
• BELOW MARKET RENTS current rents are 14% below market which provides investors with significant potential upside in net operating income as leases rollover and the market continues to appreciate. • NO NEW CONSTRUCTION there is currently no new development of this product type in the Henderson or Airport submarket. • LOCATION the property is located in the East Airport submarket with close proximity to McCarran International Airport and the Las Vegas Strip. • STRONG DEMAND strong demand in the market is validated by 100% occupancy in this project and very low vacancy in competing projects. • BELOW REPLACEMENT COST increasing construction costs and land values coupled with lack of available land have created barriers to new development. This provides an opportunity to purchase this property at ±40% below replacement cost. • POTENTIAL USER SALES the property consists of 10 units with the potential to sell individually to users.
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
WHITNEY MESA BUSINESS PARK II
05
PROPERTY INFORMATION
P R O P E R T Y I N F O R M AT I O N
LOCATION OVERVIEW MOUNTAIN VISTA ST.
Distance to: US 95 & Russell Rd......................................................2.3 miles US 95 & Tropicana Ave...............................................2.4 miles McCarran International Airport via Russell Rd......3.9 miles
McCARRAN INTERNATIONAL AIRPORT
RUSSELL RD.
WHITNEY MESA BUSINESS PARK II
GREEN VALLEY PKW Y.
PATRICK LN.
PECOS RD.
I-15 via I-215..............................................................14.1 miles
SUNSET RD. EASTERN AVE.
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
6
LOCATION HIGHLIGHTS
NEIGHBORING BUISNESSES INCLUDE
• East Airport/Henderson location
• Apria Healthcare
• National Technical Institute
• Minutes away from McCarran International Airport and the Las Vegas Strip
• Ethel M Chocolates
• Painters
• Surrounded by numerous retail amenties
• Pierre Fabre
• Roseman University of Health Sciences • WestCare Foundation • VRS Industries • Pan Am International Flight Academy
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
7
P R O P E R T Y I N F O R M AT I O N WHITNEY MESA BUSINESS PARK II // 1850 WHITNEY MESA DR. & 1860 WHITNEY MESA DR. // HENDERSON, NV 89104
1860 WHITNEY MESA DR., HENDERSON, NV 89104
1850 WHITNEY MESA DR., HENDERSON, NV 89104
PROPERTY NAME
Whitney Mesa Business Park II
PROPERTY NAME
Whitney Mesa Business Park II
ADDRESS
1850 Whitney Mesa Dr. Henderson, NV 89104, Suites 120-130
ADDRESS
1860 Whitney Mesa Dr. Henderson, NV 89104
DESCRIPTION
Multi-Tenant Business Park Condominiums
DESCRIPTION
Multi-Tenant Business Park Condominiums
TOTAL SIZE
±6,424
TOTAL SIZE
±35,021
OFFICE SF%
3,890/60%
OFFICE SF/%
18,282/52%
OCCUPANCY
100%
OCCUPANCY
100%
NUMBER OF UNITS
2
NUMBER OF UNITS
8
UNIT SIZES
3,212 SF
UNIT SIZES
3,472 - 5,719 SF
NUMBER OF TENANTS
2
NUMBER OF TENANTS
8
CLEARANCE
21’
CLEARANCE
21’
LOADING
Grade level loading
LOADING
Grade level loading
POWER
120/208 V, 3-Phase
POWER
120/208 V, 3-Phase
YEAR BUILT
2008
YEAR BUILT
2008
CONSTRUCTION
Concrete tilt up
CONSTRUCTION
Concrete tilt up
ZONING
IP (Industrial Park) City of Henderson
ZONING
IP (Industrial Park) City of Henderson
APN
161-32-714-013 & 014
APN
161-32-714-003, 004, 005, 006, 007, 008, 009, 010
P R O P E R T Y I N F O R M AT I O N
Patrick Airport Business Center 3155 Patrick Ln.
Arrowhead Commerce Center
1840-1860 Whitney Mesa Dr.
95
E SUNSET RD
Whitney Ranch Shopping Center Target Galleria Commons Ross Euphoria Salon Vons Burlington Coat Factory Applebee’s Stein Mart Subway Marie Callendar’s Hobby Lobby
W WARM SPRINGS RD
Driving Times/Distances US-95 & Russell Rd. Green Valley & I-215 (The District) McCarran International Airport (via Russell Rd.) I-15 via I-215
6 minutes 12 minutes 15 minutes 21 minutes
2.3 miles 4.9 miles 7.0 miles 14.1 miles
AR
Green Valley Town Center Stephanie Street Shopping Center Smith’s DSW Shoe Warehouse Galaxy Green Valley Theater Barnes & Noble Olive Garden Old Navy TGI Friday’s Pier 1 Imports Joe’s Crab Shack Michaels Nordstrom Rack Eastgate Ulta Walmart Total Wine Office Depot Tony Romas Red Lobster
W SUNSET RD
Y VALLE
Legend Gallery at Sunset JCPenney Dillard’s Kohl’s Macy’s Dicks Sporting Goods Chevys Fresh Mex Red Robin Famous Dave's Buffalo Wild Wings
Sandhill Airport Park
BLVD DE N YO G R A RO
Park 2000
VERDE DR
Bigfoot Business Center
V ALLEY PKWY
Patrick Airport Business Center
STEPHANIE ST
Patrick Airport Center
DR NCH A WH I TN E Y R
Patrick Lane Industrial Center
MOUNTAIN VISTA
E RUSSELL RD
Eastern Commerce Center
GRE EN
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
8
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
9 LEASE ABSTRACTS
LEASE ABSTRACTS
INVESTMENT CONTACTS Kevin Higgins, SIOR Executive Vice President Lic. #BS.0016109 702.369.4944 [email protected]
Garrett Toft, SIOR First Vice President Lic. #BS.0061824 702.369.4868 [email protected]
WHITNEY MESA BUSINESS PARK II, HENDERSON, NV | Affiliated Business Disclosure and Confidentiality Agreement CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum. This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived. By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc. PMStudio_May2016
DEBT & STRUCTURE FINANCE Bob Ybarra Vice President 702.369.4859 [email protected]
CBRE - Las Vegas 3993 Howard Hughes Parkway, Suite 700 Las Vegas, NV 89169 www.cbre.com/lasvegas
BUSINESS PARK II 1850 – 1860 WHITNEY MESA DRIVE HENDERSON, NV 89104
MULTI-TENANT INDUSTRIAL INVESTMENT
41,445 SQUARE FEET 100% OCCUPIED
Industrial | Logistics
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
2
LEASE ABSTRACTS
Contents 03 EXECUTIVE SUMMARY 05 PROPERTY INFORMATION
INVESTMENT CONTACTS Kevin Higgins, SIOR Executive Vice President Lic. #BS.0016109 702.369.4944 [email protected]
Garrett Toft, SIOR First Vice President Lic. #BS.0061824 702.369.4868 [email protected]
DEBT & STRUCTURE FINANCE Bob Ybarra Vice President 702.369.4859 [email protected]
CBRE - Las Vegas 3993 Howard Hughes Parkway, Suite 700 Las Vegas, NV 89169 www.cbre.com/lasvegas
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
WHITNEY MESA BUSINESS PARK II
03
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
4
LEASE ABSTRACTS INVESTMENT HIGHLIGHTS
THE OFFERING CBRE is exclusively offering the opportunity to acquire a 100% leased multi-tenant industrial investment in Henderson, NV. Whitney Mesa Business Park II is located on Whitney Mesa Dr. and Mountain Vista St at the east end of the Airport Industrial submarket. Whitney Mesa Business Park II is a ±41,445 SF industrial condo project with 10 units ranging from 3,212 – 5,719 SF. Each unit features attractive, fully finished, 2-story office improvements and white box warehouses with grade level loading. The project is currently 100% occupied with ten (10) tenants. The property is situated near numerous retail and business amenities. Nearby residential developments and bus service along Mountain Vista and Russell Rd. Corporate neighbors include Apria Health Care, Roseman University, and Ethel M Chocolates. PROPERTY NAME:
Whitney Mesa Business Park II
ADDRESS:
1850 - 1860 Whitney Mesa Dr.
DESCRIPTION:
Industrial Condo Units
TOTAL SIZE:
±41,445 SF
OFFICE SF / %: NUMBER OF
22,172 SF / 53%
TENANTS / UNITS: OCCUPANCY
10/10 1860 Whitney Mesa Dr.: 100% 1850 Whitney Mesa Dr. Suites 120 & 130: 100%
LOADING:
Grade level
CLEARANCE:
21’
POWER:
120/208 V, 3-Phase
ZONING:
IP (Industrial Park) City of Henderson
YEAR BUILT:
2008
FINANCIALS* PRICE:
$4,350,000.00
IN PLACE NOI (JUL. 2017 ANNUALIZED):
$299,148.00
IN PLACE CAP RATE:
6.88%
10 YR. UNLEVERED IRR:
9.19%
10 YR. LEVERED IRR:
14.78%
*See Financial Analysis for Discounted Cash Flow Model
• BELOW MARKET RENTS current rents are 14% below market which provides investors with significant potential upside in net operating income as leases rollover and the market continues to appreciate. • NO NEW CONSTRUCTION there is currently no new development of this product type in the Henderson or Airport submarket. • LOCATION the property is located in the East Airport submarket with close proximity to McCarran International Airport and the Las Vegas Strip. • STRONG DEMAND strong demand in the market is validated by 100% occupancy in this project and very low vacancy in competing projects. • BELOW REPLACEMENT COST increasing construction costs and land values coupled with lack of available land have created barriers to new development. This provides an opportunity to purchase this property at ±40% below replacement cost. • POTENTIAL USER SALES the property consists of 10 units with the potential to sell individually to users.
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
WHITNEY MESA BUSINESS PARK II
05
PROPERTY INFORMATION
P R O P E R T Y I N F O R M AT I O N
LOCATION OVERVIEW MOUNTAIN VISTA ST.
Distance to: US 95 & Russell Rd......................................................2.3 miles US 95 & Tropicana Ave...............................................2.4 miles McCarran International Airport via Russell Rd......3.9 miles
McCARRAN INTERNATIONAL AIRPORT
RUSSELL RD.
WHITNEY MESA BUSINESS PARK II
GREEN VALLEY PKW Y.
PATRICK LN.
PECOS RD.
I-15 via I-215..............................................................14.1 miles
SUNSET RD. EASTERN AVE.
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
6
LOCATION HIGHLIGHTS
NEIGHBORING BUISNESSES INCLUDE
• East Airport/Henderson location
• Apria Healthcare
• National Technical Institute
• Minutes away from McCarran International Airport and the Las Vegas Strip
• Ethel M Chocolates
• Painters
• Surrounded by numerous retail amenties
• Pierre Fabre
• Roseman University of Health Sciences • WestCare Foundation • VRS Industries • Pan Am International Flight Academy
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
7
P R O P E R T Y I N F O R M AT I O N WHITNEY MESA BUSINESS PARK II // 1850 WHITNEY MESA DR. & 1860 WHITNEY MESA DR. // HENDERSON, NV 89104
1860 WHITNEY MESA DR., HENDERSON, NV 89104
1850 WHITNEY MESA DR., HENDERSON, NV 89104
PROPERTY NAME
Whitney Mesa Business Park II
PROPERTY NAME
Whitney Mesa Business Park II
ADDRESS
1850 Whitney Mesa Dr. Henderson, NV 89104, Suites 120-130
ADDRESS
1860 Whitney Mesa Dr. Henderson, NV 89104
DESCRIPTION
Multi-Tenant Business Park Condominiums
DESCRIPTION
Multi-Tenant Business Park Condominiums
TOTAL SIZE
±6,424
TOTAL SIZE
±35,021
OFFICE SF%
3,890/60%
OFFICE SF/%
18,282/52%
OCCUPANCY
100%
OCCUPANCY
100%
NUMBER OF UNITS
2
NUMBER OF UNITS
8
UNIT SIZES
3,212 SF
UNIT SIZES
3,472 - 5,719 SF
NUMBER OF TENANTS
2
NUMBER OF TENANTS
8
CLEARANCE
21’
CLEARANCE
21’
LOADING
Grade level loading
LOADING
Grade level loading
POWER
120/208 V, 3-Phase
POWER
120/208 V, 3-Phase
YEAR BUILT
2008
YEAR BUILT
2008
CONSTRUCTION
Concrete tilt up
CONSTRUCTION
Concrete tilt up
ZONING
IP (Industrial Park) City of Henderson
ZONING
IP (Industrial Park) City of Henderson
APN
161-32-714-013 & 014
APN
161-32-714-003, 004, 005, 006, 007, 008, 009, 010
P R O P E R T Y I N F O R M AT I O N
Patrick Airport Business Center 3155 Patrick Ln.
Arrowhead Commerce Center
1840-1860 Whitney Mesa Dr.
95
E SUNSET RD
Whitney Ranch Shopping Center Target Galleria Commons Ross Euphoria Salon Vons Burlington Coat Factory Applebee’s Stein Mart Subway Marie Callendar’s Hobby Lobby
W WARM SPRINGS RD
Driving Times/Distances US-95 & Russell Rd. Green Valley & I-215 (The District) McCarran International Airport (via Russell Rd.) I-15 via I-215
6 minutes 12 minutes 15 minutes 21 minutes
2.3 miles 4.9 miles 7.0 miles 14.1 miles
AR
Green Valley Town Center Stephanie Street Shopping Center Smith’s DSW Shoe Warehouse Galaxy Green Valley Theater Barnes & Noble Olive Garden Old Navy TGI Friday’s Pier 1 Imports Joe’s Crab Shack Michaels Nordstrom Rack Eastgate Ulta Walmart Total Wine Office Depot Tony Romas Red Lobster
W SUNSET RD
Y VALLE
Legend Gallery at Sunset JCPenney Dillard’s Kohl’s Macy’s Dicks Sporting Goods Chevys Fresh Mex Red Robin Famous Dave's Buffalo Wild Wings
Sandhill Airport Park
BLVD DE N YO G R A RO
Park 2000
VERDE DR
Bigfoot Business Center
V ALLEY PKWY
Patrick Airport Business Center
STEPHANIE ST
Patrick Airport Center
DR NCH A WH I TN E Y R
Patrick Lane Industrial Center
MOUNTAIN VISTA
E RUSSELL RD
Eastern Commerce Center
GRE EN
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
8
EXECUTIVE SUMMARY | PROPERTY DESCRIPTION | MARKET OVERVIEW | LAS VEGAS OVERVIEW | FINANCIALS
9 LEASE ABSTRACTS
LEASE ABSTRACTS
INVESTMENT CONTACTS Kevin Higgins, SIOR Executive Vice President Lic. #BS.0016109 702.369.4944 [email protected]
Garrett Toft, SIOR First Vice President Lic. #BS.0061824 702.369.4868 [email protected]
WHITNEY MESA BUSINESS PARK II, HENDERSON, NV | Affiliated Business Disclosure and Confidentiality Agreement CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum. This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived. By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc. PMStudio_May2016
DEBT & STRUCTURE FINANCE Bob Ybarra Vice President 702.369.4859 [email protected]
CBRE - Las Vegas 3993 Howard Hughes Parkway, Suite 700 Las Vegas, NV 89169 www.cbre.com/lasvegas
