WHITNEY MESA BUSINESS PARK II

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WHITNEY MESA BUSINESS PARK II 1850 1860 WHITNEY MESA DRIVE HENDERSON, NV 89104 MULTI-TENANT

1 WHITNEY MESA BUSINESS PARK II WHITNEY MESA DRIVE HENDERSON, NV MULTI-TENANT INDUSTRIAL INVESTMENT 41,445 SQUARE FEET 10 INDIVIDUAL CONDO UNITS POTENTIAL USER SALES Industrial Logistics

2 Contents 03 EXECUTIVE SUMMARY 05 PROPERTY INFORMATION INVESTMENT CONTACTS Kevin Higgins, SIOR Executive Vice President Lic. #BS.0016109 702.369.4944 kevin.j.higgins@cbre.

2 2 Contents 03 EXECUTIVE SUMMARY 05 PROPERTY INFORMATION INVESTMENT CONTACTS Kevin Higgins, SIOR Executive Vice President Lic. #BS Garrett Toft, SIOR First Vice President Lic. #BS DEBT & STRUCTURE FINANCE Bob Ybarra Vice President LEASE ABSTRACTS CBRE - Las Vegas 3993 Howard Hughes Parkway, Suite 700 Las Vegas, NV

3 WHITNEY MESA BUSINESS PARK II 03 EXECUTIVE SUMMARY

4 4 THE OFFERING CBRE is exclusively offering the opportunity to acquire a 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 89% occupied with nine (9) 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: ADDRESS: DESCRIPTION: TOTAL SIZE: Whitney Mesa Business Park II Whitney Mesa Dr. Industrial Condo Units ±41,445 SF OFFICE SF / %: 22,172 SF / 53% NUMBER OF TENANTS / UNITS: 9/10 OCCUPANCY 1860 Whitney Mesa Dr.: 87% 1850 Whitney Mesa Dr. Suites 120 & 130: 100% LOADING: Grade level CLEARANCE: 21 POWER: ZONING: YEAR BUILT: 2008 FINANCIALS*/** 120/208 V, 3-Phase IP (Industrial Park) City of Henderson PRICE: $4,350, **IN PLACE NOI (JAN ANNUALIZED): **PROFORMA YEAR 1 NOI (1/1/17-12/31/17): **IN PLACE CAP RATE: 6.69% **PROFORMA YEAR 1 CAP RATE: 6.3% 10 YR. UNLEVERED IRR: 9.57% $291, $274, YR. LEVERED IRR: 15.55% *See Financial Analysis for Discounted Cash Flow Model **Includes seller rent guarantee on vacant unit 1860 Whitney Mesa #160 LEASE ABSTRACTS INVESTMENT HIGHLIGHTS 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 near full 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 ±35% below replacement cost. POTENTIAL USER SALES the property consists of 10 individual units with the potential to sell individually to users.

5 WHITNEY MESA BUSINESS PARK II 05 PROPERTY INFORMATION

6 PROPERTY INFORMATION LOCATION OVERVIEW Distance to: US 95 & Russell Rd...2.

..14.1 miles McCARRAN INTERNATIONAL AIRPORT EASTERN AVE. PATRICK LN.

Airport and the Las Vegas Strip Surrounded by numerous retail amenties PECOS RD. SUNSET RD.

NEIGHBORING BUISNESSES INCLUDE Apria Healthcare Ethel M Chocolates Roseman University of

6 6 PROPERTY INFORMATION LOCATION OVERVIEW Distance to: US 95 & Russell Rd miles US 95 & Tropicana Ave miles McCarran International Airport via Russell Rd miles I-15 via I miles McCARRAN INTERNATIONAL AIRPORT EASTERN AVE. PATRICK LN. LOCATION HIGHLIGHTS East Airport/Henderson location Minutes away from McCarran International Airport and the Las Vegas Strip Surrounded by numerous retail amenties PECOS RD. SUNSET RD. RUSSELL RD. WHITNEY MESA BUSINESS PARK II GREEN VALLEY PKWY. NEIGHBORING BUISNESSES INCLUDE Apria Healthcare Ethel M Chocolates Roseman University of Health Sciences Pierre Fabre VRS Industries Pan Am International Flight Academy MOUNTAIN VISTA ST. National Technical Institute Painters WestCare Foundation

Business Park II 1850 Whitney Mesa Dr. Henderson, NV 89104, Suites 120-130 Multi-Tenant Business Park Condominiums 3,212 SF YEAR BUILT 2008 CONSTRUCTION ZONING 1850 WHITNEY MESA DR.

7 7 WHITNEY MESA BUSINESS PARK II // 1850 WHITNEY MESA DR. & 1860 WHITNEY MESA DR. // HENDERSON, NV PROPERTY NAME ADDRESS DESCRIPTION TOTAL SIZE ±6,424 OFFICE SF% 3,890/60% OCCUPANCY 100% NUMBER OF UNITS 2 UNIT SIZES NUMBER OF TENANTS 2 CLEARANCE 21 LOADING POWER Whitney Mesa Business Park II 1850 Whitney Mesa Dr. Henderson, NV 89104, Suites Multi-Tenant Business Park Condominiums 3,212 SF YEAR BUILT 2008 CONSTRUCTION ZONING 1850 WHITNEY MESA DR., HENDERSON, NV Grade level loading 120/208 V, 3-Phase Concrete tilt up IP (Industrial Park) City of Henderson APN & 014 PROPERTY NAME Whitney Mesa Business Park II ADDRESS 1860 Whitney Mesa Dr. Henderson, NV DESCRIPTION TOTAL SIZE ±35,021 OFFICE SF/% 18,282/52% OCCUPANCY 87% NUMBER OF UNITS 8 UNIT SIZES NUMBER OF TENANTS 7 CLEARANCE 21 LOADING POWER YEAR BUILT 2008 CONSTRUCTION ZONING 1860 WHITNEY MESA DR., HENDERSON, NV Multi-Tenant Business Park Condominiums 3,472-5,719 SF Grade level loading 120/208 V, 3-Phase Concrete tilt up IP (Industrial Park) City of Henderson PROPERTY INFORMATION APN , 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.

8 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 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 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

9 9 LEASE ABSTRACTS

LEASE ABSTRACTS INVESTMENT CONTACTS Kevin Higgins, SIOR Executive Vice President Lic. #BS.0016109 702.369.4944 kevin.j.higgins@cbre.com Garrett Toft, SIOR First Vice President Lic. #BS.0061824 702.

10 LEASE ABSTRACTS INVESTMENT CONTACTS Kevin Higgins, SIOR Executive Vice President Lic. #BS Garrett Toft, SIOR First Vice President Lic. #BS 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 Robert.Ybarra@cbre.com CBRE - Las Vegas 3993 Howard Hughes Parkway, Suite 700 Las Vegas, NV

FOR LEASE OFFICE. Professionally Managed By:

FOR LEASE OFFICE. Professionally Managed By: Hughes Airport Center is the premier business park in Las Vegas with 3.3 million sq. ft. of office and industrial space in close proximity to the Las Vegas Strip, McCarran International Airport, Town Square